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, 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 a 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
- 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 by the law.
NTC further explained that this year National Daily Minimum Wages (NDMW) is exempted from tax.