2023 National Daily Minimum Wage Pegged at GHC14.88 pesewas
2023 National Daily Minimum Wage Pegged at GHC14.88 pesewas.
The long wait seems to be over on the 16th day of November when the National Tripartite Committee delivered a communique on the 2023 National Daily Minimum Wage.
In the wake of the current economic hardship, the Ghanaian citizens are beginning to question when negotiations will begin for the 2023 National Daily Minimum Wage.
But before close of day on Wednesday 16th November, 2022, the Minister of Employment and Labour Relations, Ignatius Baffuor Awuah announced that the daily minimum wage will rise to GHC14.88 pesewas from 2022’s figure of GHC13.53.
In a press conference on Wednesday in Accra, the Minister made it known that the National Tripartite Committee have concluded the negotiation and sees the moment as the best time to disclose to Ghanaians the outcome of the negotiation.
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He disclosed that the National Tripartite Committee took into account the current economic challenges, cost of living, sustainability of businesses and desirability of attaining higher level of employment, as well as the rapid restoration of macroeconomic stability.
The committee came to an agreement on the need to increase the daily minimum wage by 10% over the 2022 National Daily Minimum Wage which computes to GHC14.88 pesewas.
A Cost-of-Living Allowance (COLA) of 15% over the 2023 National Daily Minimum Wage.
And the implementation will take effect from 1st January 2023.
The Minister admonished all establishments, institutions or organizations whose daily minimum wage is below the new rate to adjust accordingly effective 1st January 2023.
He further cautioned that any establishment, institution or organization that flouts the National Daily Minimum Wage shall be sanctioned in accordance with the law.
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