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New Minimum Wage Now GH¢14.88 Effective January 1, 2023

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The National Tripartite Committee in line with Section 113 (1) (a) of the Labour Act, 2003 (Act 651) has reviewed the National Daily Minimum Wage (NDMW) to GH₵14.88 pesewas.

The new minimum wage will take effect from January 1, 2023. The Committee concluded on this new wage after a meeting held on Wednesday, November 16, 2022.

 

The Tripartite Committee said in arriving at this new wage, it took into account the current economic challenges, cost of living, sustainability of businesses and desirability of attaining a higher level of employment, as well as the need for rapid restoration of macroeconomic stability.

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“An increase in the NDMW by 10% over the 2022 NDMW which translates into a new NDMW of GH₵14.88; and a Cost-of-Living Allowance (COLA) of 15% over the 2023 NDMW,” the Committee said in a communique issued on Wednesday.

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It also recommended that the new minimum wage should be tax exempt. It is expected that effective January 2023 all institutions or organizations that flout the revised wage will be sanctioned in accordance with the law.

The previous daily minimum wage was GH¢13.53 pesewas.

 

 

 

 

 

 

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Source:  TodayGhanaMedia.com 

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