The 2023 National Daily Minimum Wage has gone up by 10 percent to GH¢14.88 effective January 1, 2023, from the GH¢12.53 that took effect on June 4, 2021.

This is in line with Section 113 (1)(a) of the Labour Act, 2003 (Act 651), and comes after negotiations were concluded by the National Tripartite Committee (NTC) at its meeting held on Wednesday, November 16, 2022.

The statement announcing the new wage said it was determined taking “into account current economic challenges, cost of living, sustainability of businesses, and desirability of attaining a high level of employment, as well as the need for rapid restoration of macroeconomic stability.”

It also imposed “a 15 percent cost of living allowance over the 2023 NDMW.”

The National Tripartite Committee (NTC) recommended that the National Daily Minimum Wage be exempted from taxation.

The Committee further cautioned organizations against paying employees below the new minimum wage.

All establishments, institutions, or organizations whose Daily Minimum Wage is below the 2021 National Daily Minimum Wage should adjust their wages accordingly effective January 1, 2023. Any establishment, institution, or organization that flouts the new rate shall be sanctioned in accordance with the law.