SIMCEL ONLINE

In a COMMUNIQUÉ BY THE NATIONAL TRIPARTITE COMMITTEE (NTC) ON THE
2023 NATIONAL DAILY MINIMUM WAGE, they stated that 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, 16h November 2022.
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:

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 1t January 2023.
   Any establishment, institution, or organization that flouts the 2023 NDMW shall be sanctioned in accordance with the law.
   They recommend that the 2023 NDMW should be tax-exempt.