The new minimum wage is GH¢14.88, effective 1st January, 2023

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The new minimum wage is GH¢14.88, effective 1st January, 2023

The new minimum wage is GH¢14.88 in Ghana, effective 1st January, 2023, Coverghana.com.gh has confirmed.

The new National Daily Minimum Wage (NDMW) was approved by National Tripartite Committee (NTC) in a joint meeting held on Wednesday, 16th November, 2022 in Accra.

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Who approved the New Minimum Wage for 2023? 

In a joint communique issued by the National Tripartite Committee (NTC) confirmed that, the decision to announce the 2023 National Daily Minimum Wage (NDMW) was made by Minister of Employment and Labour Relations (MELR), Ghana Employers’ Association and Trade Union Congress (TUC).

The National Tripartite Committee (NTC) concluded negotiations on the 2023 National Daily Minimum Wage (NDMW) in line with Section 113 (1) (a) of the Labour Act, 2003 (Act 651).

Factors considered for approving 2023 Minimum Wage

In determining the 2023 National Daily Minimum Wage, the National Tripartite Committee took into account the:

1. Current economic challenges

2. Cost of living of Ghanaians

3. Sustainability of businesses and

4. Desirability of attaining higher level of employment as well as

5. the need for rapid restoration of macroeconomic stability.

Resolution of the National Tripartite Committee

The National Tripartite Committee at its meeting has concluded as follows:

1. An increase in the National Daily Minimum Wage (NDMW) by 10% over the 2022 NDMW which translates into a new National Daily Minimum Wage (NDMW) of GH¢14.88; and

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2. A Cost-of-Living Allowance (COLA) of 15% over the 2023 National Daily Minimum Wage (NDMW).

Effective date for 2023 Minimum Wage

The National Tripartite Committee explained that, the effective date for the implementation of the 2023 National Daily Minimum Wage (NDMW) shall be 1st January, 2023.

Caution against violation of the 2023 Minimum Wage

The National Tripartite Committee has also cautioned institutions and persons against deliberate violation of the 2023 National Daily Minimum Wage.

All establishments, institutions or organizations whose daily minimum wages are below the new rates should adjust accordingly effective 1st January, 2023.

The agreement was signed signed by the Minister of Employment and Labour Relations (MELR) Hon. Ignatius Baffour Awuah representing government, President of Ghana Employers’ Association Mr. Dan Achampong representing employers’ and Secretary General of the Trade Union Congress (TUC) Dr. Anthony Yaw Baah representing organized labour said, any establishment, institution or organization that flouts the 2023 National Daily Minimum Wage (NDMW) shall be sanctioned in accordance with the law.

The National Tripartite Committee (NTC) recommends that the 2023 National Daily Minimum Wage (NDMW) should be tax exempt.

SOURCE: Coverghana.com.gh

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