Minimum Wage increased by 10% to GH¢14.88 of 15% COLA over the 2023 NDMW

COMMUNIQUÉ BY THE NATIONAL TRIPARTITE COMMITTEE (NTC) ON THE 2023 NATIONAL DAILY MINIMUM WAGE

In line with Section 113 (1) (a) of the Labour Act, 2003 (Act 651), the National Tripartite Committee (NTC) concluded negotiations on the determination of the 2023 National Daily Minimum Wage (NDMW) at its meeting held on Wednesday, 16 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:

1. 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 1 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 recofimends that the 2023 NDMW should be tax exempt.

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

FOR: GOVERNMENT MR. DAN ACHEAMPONG, PRESIDENT GHANA EMPLOYERS ASSOCIATION (GEA)

FOR: EMPLOYERS

DR. ANTHONY YAW BAAH, SECRETARY GENERAL TRADES UNION CONGRESS (TUC), GHANA

FOR: ORGANISED LABOUR

DATED IN ACCRA THIS 16TH DAY OF NOVEMBER, 2022