Since the past few years, Somalia has experienced political and institutional progress and is thus less vulnerable. The country’s private sector is known to be resilient and innovative while the political aspects in the Horn of Africa and Red Sea regions are going through major changes where Somalia to tap into the closeness to Ethiopia and explore trading opportunities.
As the country experiences rapid urbanisation, increasing use of technologies, investments in key sectors such as energy, education and healthcare. Africa HR Solutions provides comprehensive HR-related solutions in Somalia, ranging from Professional Employer Organisation (PEO), Employer of Record, payroll and other ancillary services, to help you expand to the country even if you do not hold a legal entity in Somalia yet.
Country Profile - Somalia
Population: 14.3 mn
Gross Domestic Product (GDP): $4.92 bn
GDP Growth: -1.5%
Foreign Direct Investment (% of GDP): 9.04%
Unemployment Rate: 6.6 %
Currency: Somali Shilling
Most of the citizens are employed in small businesses such as traders, herders and agricultural producers. The primary source of revenue remains foreign trade. Somalia is significantly dependent on foodstuffs namely pasta, sugar, flour and rice, which are imported by African countries like Ethiopia and Kenya. Somalia exports products such as livestock, charcoal, skins and hides. The country is also engaged in exporting livestock products to the Gulf countries like UAE, Yemen and Oman.
Interesting Facts About Somalia
The camel is very popular in Somalia as it represents a source of meat, milk, transport, revenue and prestige for those who have one
Young adults who are from a well to do background and have access to education speak five languages or more
It is one of the poorest countries in the world
Fish and meat canneries, mild processing plants, leather tanning factories, electrical and pharmaceutical factories are the only factories that you can see in Somalia
Most citizens are self-employed, as farmers, herders, and business owners
Public Holidays in Somalia
New Year’s Day
Eid al-Fitr Holiday
Somaliland Sovereignty Day
Somaliland Sovereignty Day Holiday
Eid al-Adha Holiday
Islamic New Year
Prophet Muhammad’s Birthday
Employment in Somalia
Employment agreements are made in either oral or written formats in Somalia, though many employees prefer a written agreement that outlines all details about their salary, compensation, leaves and termination requirements. At Africa HR Solutions, our in-country experts rest assured your HR outsourcing strategy is aligned to your international expansion goals, and follow the country’s policies, laws and norms. To ensure you attract the right talent, we devise a competitive compensation scheme to attract the best talent to your organisation in Somalia.