Africa Angola Banking Economy Industry Labour

Angola spends over US$2B a year on foreign labour wages

José Severino disclosed this during a debate to mark national industry day held Saturday in Lubango, southern Huila province.

The economist said that according to National Reserve Bank (BNA), there is USD 500 million per month for economic operations, but regrets that 45 percent of the said amount is spent on the wages for foreigners.

He said that AIA suggests to follow the German “Dual” training method. This means that in addition to schools, the students should attend practical training in sectors the country most needs external workforce.

The AIA official also defends reduction of the amount spent on wages for foreigners by at least 25 percent by 2021.

In turn businessman in the field of ornamental stones, José Dias, complained about the serious difficulties they face in paying the foreign workforce, stressing banks have not been able to make the transfer since July.

More than 60 industrial firms attended the so-called “Debate Vector”, ahead of 20th anniversary of Vector radio programme.

The event was sponsored by Huila’s Integrated Economic Development Office.

Source: Angop

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