Sao Tome & Principe HR Outsourcing

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.

Country Profile - Sao Tome & Principe

Population: 0.21 mn

Gross Domestic Product (GDP): $0.47 bn

GDP Growth: -6.4%

Inflation: 6.4%

Foreign Direct Investment (% of GDP): –

Unemployment Rate: 13.9 %

Capital: São Tomé

Currency: São Tomé and Príncipe dobra

Languages: Portuguese

Sao Tome & Principe

Sao Tome & Principe's Economy

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.

Interesting Facts About Sao Tome & Principe

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

Public Holidays in Sao Tome & Principe

New Year’s Day

Martyrs’ Day

Good Friday

Labour Day

Independence Day

Armed Forces Day

Agricultural Reform Day

Sao Tome Day

Christmas

Employment in Sao Tome & Principe

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.