Hire in Mali
The Republic of Mali, commonly known as Mali, is a small country in West Africa. It is abundant in natural resources and has a desert, a savanna and two rivers in its territory. Due to this, the economy of Mali is dominated by the mining and agricultural sectors. Mali is one of the poorest countries in the world, which translates to very few job opportunities. The unemployment rate of Mali is very high, leaving its citizens unemployed for extended periods. This is a major contributing factor in the low economy of Mali.
Overview of Mali
The financial matters of Mali are handled by the Central Bank of West African States. The major revenue is generated from agricultural activities practised in rural areas. Mali has taken loans and debts from several foreign bodies, including the World Bank, African Development Bank and Arab Funds, etc.
Total population – 23,683,372 people in 2024
GDP – US $101.42 billion (2024 est.)
Economic Overview
The economy in Mali is driven by the agriculture and export sectors. The PPP GDP of Mali is US $44.329 billion (24,712.57 billion CFA). This gives it a per capita income of US $2,271 (1,266,038.90 CFA). But the nominal GDP of Mali is far less. The PPP GDP of Mali is 2.5 times greater than its nominal GDP, US $17.407 billion (9,704.07 billion CFA). Based on the nominal GDP, the per capita income of Mali is US $891 (496,715.39 CFA).
Market size
The agricultural sector rules the market of Mali. The next most revenue-generating sector stands to be mining. Mali is a developing nation which explains the lack of huge market size. Apart from these Mali has two major revenue generating companies viz. the Société de Télécommunications du Mali (SOTELMA) and the Cotton Ginning Company (CMDT).
A brief glimpse of the industries
- The energy sector of Mali is making significant developments year by year. Mali is responsible for efficiently producing its hydroelectricity. Energie du Mali is a major producer of energy and provides it to around 55% of the Malian population.
- Mali has abundant gold mines. This gold is mined and sold globally to earn revenue for the country. The mining sector is the second largest sector of Mali. Along with gold, Mali also has stores of salt, kaolin, limestone and phosphate.
- The agriculture sector of Mali produces maize, rice, millet, sorghum, mango, cotton, watermelon, onion, okra, sugar cane, peanuts, sweet potato, potato, shea nut, cowpea, banana, cashew nuts, beans, tomatoes, etc.
Cost of living in Mali
Mali is one of the cheapest countries to live in. The cost of living in Mali is very low on a global scale. Mali has beautiful nature and authentic experiences to offer. You will get to experience grassroots level work and culture in Mali. Even with all of this to offer, the cost of living in Mali is low.
| Category
|
Area of expense
|
Estimated cost
|
Range
|
| Utilities
|
Electricity, Water, Heating, Internet services, Prepaid mobile tariff
|
US $420.48 (234,409.53 CFA)
|
US $232.41 to US $749.32 (129,564.11 CFA to 417,731.51 CFA)
|
| Rental rates
|
Apartment (1 room) in city and outside city,
Apartment (2-3 rooms) In the city and outside the city.
|
US $780 (434,835.02 CFA)
US $1,258.33 (701,494.82 CFA)
|
US $280 to US $1,500 (156,094.62 CFA to 836,221.20 CFA)
US $500 to US $2,800 (278,740.40 CFA to 1,560,946.24 CFA)
|
| Transportation Cost
|
One way ticket, local transport, Taxi tariff, Gasoline.
|
US $80 (44,598.46 CFA)
|
US $60 to US $120 (33,448.85 CFA to 66,897.70 CFA)
|
| Food and Beverage
|
Grocery, Vegetables, Meat and Poultry
|
US $459.54 (256,184.73 CFA)
|
US $210.8 to US $896 (117,516.95 CFA to 499,502.80 CFA)
|
| Salaries and Financing
|
Average annual net salary
Interest rates
|
US $2015 (1,123,323.81 CFA)
12%
|
US $1,798.41 to US $2,598.32 (1,002,579.05 CFA to 1,448,513.51 CFA)
8% to 15%
|
Cost of Renting
The cost of renting in Mali is cheap. You can easily rent a one-room apartment in the city centre for US $780 or less. The rent varies depending on the area of your housing facility. Some facilities even consider the cost of additional amenities within the rent, such as water and electricity charges.
Cost of living depending upon your location
The cost of living in Mali is very low. It is one of the cheapest countries to live in. If you are looking for such a place, then Mali is your location. Each region in Mali has different facilities and amenities. Based on them, the cost of living in each city varies accordingly.
- Cities categorized as Tier 1 cities in Mali are cities such as Bamako, Sikasso, Kalabancoro, etc.
- Cities categorized as Tier 2 cities in Mali are Kayes, Kati, Mopti, etc.
- Cities categorized as Tier 3 cities in Mali are Koro, Bla, Bougouni, etc.
Mentioned below are details regarding the cost of living in the leading Tier 1 and Tier 2 cities of Mali.
| Cities
|
(Cost of living) CFA
|
(Cost of living)
|
| Bamako
|
1,103,354.85 CFA
|
US $1,979.18
|
| Kalabancoro
|
1,056,565.49 CFA
|
US $1,895.25
|
| Kayes
|
1,047,707.12 CFA
|
US $1,879.36
|
| Mopti
|
995,381.97 CFA
|
US $1,785.50
|
The top sectors that are expected to hire in 2024 in Mali are: -
| S.No
|
Top Industries looking to hire
|
|
1.
|
Healthcare
|
|
2.
|
Technology
|
|
3.
|
Warehousing
|
|
4.
|
Agriculture
|
|
5.
|
Manufacturing
|
|
6.
|
Export
|
|
7.
|
Food processing
|
|
8.
|
Government schools
|
|
9.
|
Aged care residential services
|
|
10.
|
Welfare services
|
Top skills in Mali
Mali, being a developing nation, lacks several skills. It is one of the most underdeveloped nations in the world. The top skill that a major group of people in Mali have is agriculture. Mali is looking to develop, which gives rise to opportunities for individuals all around the world. Vividly skilled and talented individuals are sought after in Mali.
Major skills and areas which have witnessed a recent growth rate
- Mining
- Agriculture
- Construction
- Food Processing
- Art
Top skills city-wise occupation-wise
Mali is a developing country in Africa. It does not have a wide variety of occupations as most other countries. Almost every city and province in Mali practices agriculture. Several cities have their speciality and job opportunities created around them.
Hiring Cost
The cost of hiring is an essential expenditure for every organization. It is very critical since it is used for determining the future of the organization. Following factors are covered under hiring cost
- Onboarding costs
- Advertisement cost
- Investment of time
- Training costs
Salary structure for various roles
The following table gives you an idea about the average salaries that different sectors offer to their employees in Mali
| Business Sector
|
Average Annual Salary
|
| Education and Training
|
US $7,533.89 (4,200,000 CFA)
|
| Wholesale Trade
|
US $8,287.28 (4,620,000 CFA)
|
| Transport, Postal, Warehousing
|
US $6,005.59 (3,348,000 CFA)
|
| Accommodation, Cafes and Restaurants
|
US $1,798.41 (1,002,578 CFA)
|
| Retail Trade
|
US $3,854.78 (2,148,965 CFA)
|
| Other Services
|
US $2,417.29 (1,347,592 CFA)
|
| Professional, Scientific and Technical Services
|
US $2,075.05 (1,156,800 CFA)
|
| Financial and Insurance Services
|
US $1,349 (2,548,961 CFA)
|
| Information Media and Telecommunications
|
US $9,794.06 (5,460,000 CFA)
|
| Construction
|
US $11,817.45 (6,588,000 CFA)
|
| Manufacturing
|
US $5,123.05 (2,856,000 CFA)
|
| Rental, Hiring and Real Estate Services
|
US $4,213.04 (2,348,691 CFA)
|
| Arts and Recreation Services
|
US $2,324.74 (1,296,000 CFA)
|
| Electricity, Gas, Water and Waste Services
|
US $1,836.21 (1,023,650 CFA)
|
| Administrative and Support Services
|
US $1,822.45 (1,015,983 CFA)
|
| Health Care and Social Assistance
|
US $2,815.98 (1,569,856 CFA)
|
| Public Administration and Safety
|
US $20,15.60 (1,123,658 CFA)
|
| Mining
|
US $1,852.06 (1,032,489 CFA)
|
Employment laws in Mali
The Republic of Mali has developed excellent labor laws for all employers and employees. These laws do not bind the civil servants, military personnel and attorneys of Mali
- Seniority bonus
- Annual leave
- Retirement
- Maternity leave
The regulatory bodies that are responsible for the government of employment laws in Mali are
- The Malian Labor Code
- Legislation
- French legal code
- General laws
How Can Skuad Help You with Hiring in Mali?
Conducting recruitment in Mali requires you to follow various rules and regulations specified by the authorities; this can be a challenge for your company as it requires considerable time and money to be invested. But when you partner with Skuad, all your hiring requirements are taken care of by experienced consultants. Connect with Skuad Experts to know more.
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