September 10, 2019
5705 employees and € 49.6 million in wages and social insurance, Balfin Group transparency in figures for 2019

Investment and employment are intertwined, but they get more value when carried out in a business conglomerate, where the opportunity to grow professionally and make a career is a tangible and a real chance given to anyone, based on meritocracy.

Thanks to the new investments it has made in the last year alone, Balfin Group now employs 5705 employees in the countries where it operates.

Of these employees, 3,769 are employed in companies operating in Albania, and 1936 are employed in other countries where Balfin operates.

For these employees, the Balfin Group contributes a salary and social insurance fund of approximately €49.6 million.

Of this fund, about €33.3 million is the fund allocated to Albania alone, while about €16.2 million is part of the fund for company employees in other countries.

We help other people do business and increase their well-being. When we open new businesses in a country, it creates jobs and thus affects people’s lives. But what I’m most proud of, is creating a different lifestyle for Albanians. By bringing innovations such as shopping malls, home appliances and more, for the first time another lifestyle was introduced in Albania, similar to what is possible in Western countries.”

This is how the President of the Balfin Group, Mr. Samir Mane, stated some time ago to prestigious German daily Die Welt.

Today, the Group he leads is the largest and most innovative investment group in Albania and one of the largest in the region, known for investments in TEG, QTU, SEG shopping centers, residential and commercial development, tourism, with projects such as Green Coast Resort and Vala Mar Residences, mining industry with AlbChrome and Newco Ferronikeli, banking with Tirana Bank, as well as retail activities with Neptune, SPAR, Jumbo etc.

The Balfin Group is in an ongoing process of growth, both in terms of operations and geographically. Recently, the Group is active in Albania, Austria, North Macedonia, Montenegro, Kosovo, Bosnia and Herzegovina and the Netherlands and has plans for its further expansion in the countries of the region and beyond.

In a recent televised appearance, President Mane clearly outlined his vision of having a growing presence and influence of the Group as an important regional actor in the business field.

In fact, according to the World Bank, in 2018 the unemployment rate ranged from 12 percent in Albania and Serbia to 29 percent in Kosovo.

While youth employment has improved and the region as a whole has experienced a substantial reduction in long-term unemployment, from 1.5 million unemployed in 2011 to 776,000 in the second quarter of 2018, it still remains a social problem.

The Balfin Group has had an impact in reducing this unemployment in countries such as Albania, Kosovo, Bosnia and Herzegovina, Northern Macedonia and Montenegro, with its 5,705 employees, who 2,000 more people, compared to the recent past.

These transparent monetary figures and values take on even greater significance, at a time when the phenomenon of informality, unregulated labor, and lack of regular employee disclosure are a detriment to the economy and the state budget. On the whole, serious investors like the Balfin Group are committed to demonstrating full transparency and continuing to contribute to both fighting unemployment and enhancing employee well-being.