Sao Tome is a small, lower-middle-income economy. The country is in a remote location and is thus more fragile to terms-of-trade challenges. Currently, the World Bank Group’s Country Partnership Strategy (CPS) is actively working towards “supporting macroeconomic stability and national competitiveness, and reducing vulnerability and strengthening human capacity.”
Africa HR Solutions help organisations with a comprehensive HR outsourcing strategy that enables them to move with peace of mind to Sao Tome. Our Sao Tame HR outsourcing services include Professional Employer Organisation (PEO), Employer of Record, payroll outsourcing and other ancillary solutions, all with the objective to assist companies with their international expansion plans.
Population: 0.21 mn
Gross Domestic Product (GDP): $0.47 bn
GDP Growth: -6.4%
Foreign Direct Investment (% of GDP): –
Unemployment Rate: 13.9 %
Capital: São Tomé
Currency: São Tomé and Príncipe dobra
Being an African nation close to the equator, São Tomé is known not to have been severely impacted health-wise by the Covid-19 pandemic. However, just like most countries, the tourism sector has been affected due to the closure of its borders. The country has robust ties with Portugal and Portuguese-speaking economies such as Angola and Brazil. São Tomé is dependent on agriculture (cocoa, coffee, pepper), whereby exports are expected to recover this year. There are high imports and exports costs due to the remote location of the country. São Tomé still receives international aid from public bodies such as the World Bank, the African Development Bank (AfDB), European Union (EU) among others to boost the development of the country.
It is the second-smallest African country after Seychelles
It is known for its biodiversity, comprising of native animals such as São Tomé shrew, different species of bats, the smallest Ibis, and the largest sunbird in the world
Music is an important part of the country’s culture
The population is diverse, with origins from Europeans, Angolan, Asians, and Chinese
New Year’s Day
Armed Forces Day
Agricultural Reform Day
Sao Tome Day
Employment contracts are prepared in either oral or written formats in Sao Tame, though many employees would choose a written agreement that defines all information about their wage, compensation, leaves, and termination information. At Africa HR Solutions, our in-country experts can assist and advise you on employment procedures, and help you manage a competitive benefits scheme for your team in Sao Tome and Principe.
Central African Republic
Democratic Republic of Congo
Republic of Congo
Sao Tome and Principe