Good News as National Tripartite Committee Increases Minimum Wage

November 16th, 2022 at 08:20 pm

Good News as National Tripartite Committee Increases Minimum Wage

The National Tripartite Committee (NTC) has concluded negotiations on the determination of the 2023 National Daily Minimum Wage (NDMW) at its meeting held on Wednesday, 16th November, 2022 in Accra.

In determining the 2023 NDMW, the NTC 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 need for rapid restoration of macroeconomic stability.

The Committee concluded as follows:

An increase in the NDMW by 10% over the 2022 NDMW which translates into a new NDMW of GHS14.88; and 2. A Cost-of-Living Allowance (COLA) of 15% over the 2023 NDMW.

The effective date for the implementation of the 2023 NDMW shall be 1st January 2023.

All establishments, institutions or organizations whose daily minimum wages are below the new rates should adjust accordingly effective 1st January, 2023. Any establishment, institution or organization that flouts the 2023 NDMW shall be sanctioned in accordance with the law.

The NTC recofirimends that the 2023 NDMW should be tax exempt.

HON. IGNATIUS BAFFOUR AWUAH (MP), MINISTER
MINISTRY OF EMPLOYMENT AND LABOUR RELATIONS
FOR: GOVERNMENT

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