Angolan Executive will regulate and give more dignity to the informal professions, in order to increase employment and therefore improve the organisation of the economy.
The move was announced by minister of Economy and Planning, Sérgio Santos, who spoke to the Public Television on Tuesday, stating that the initiative covers the professional categories, such as taxi drivers, domestic workers and street vendors.
The taxi sector alone generates more than US$1B annually, he said, stressing that the government plans to support the formalisation of some professional categories.
Recent data from the Angolan National Institute of Statistics (INE) show that the informal market in Angola absorbs around nine million people, who represent a third of the population.
Also read: Angola AIPEX CEO stresses foreign investment
As example, he said, the taxi sector still operates in informal sector, adding that it represents an annual billion-dollar business (around €900M) and does not generate tax collection.
In 2019, the Action Plan for the Promotion of Employability (PAPE) was created, which made available €58.3M to promote employment in the country in the coming years.
The Government recently approved the Informal Economy Transition Programme, the transition strategy from the informal to the formal economy and the respective action plan for 2020-2022 period.