Luanda – The new national minimum monthly salary of 70k kwanzas, for Angolan workers in general, and Akz 50k for micro-enterprises and start-ups, will enter into force in September this year.
According to the presidential decree of 17 July 2024, published in the State Gazzette on Friday (19), the new wages represent an update for workers at that level.
The objective of the measure is to promote dignity of the person in light of the country’s economic and social conditions, as well as stimulate increase of productivity and the formalization of economic undertakings, reads the decree.
The document also explains that twelve months later that minimum must rise to AKz 100k per month.
Meawhile, employers and the unions can define other minimum salaries (not bellow the legal one) through collective agreements, in accordance with the law.
In the same ambit, the new limits for retirement and vulnerability pensions that stand at Akz 70k minimum and Akz 729,448 maximum will enter into force in July this year, reads another presidential decree published on the same day.
The referred pensions have to do with old age retirement, survival and incapacity state benefits.
IZ/jmc
