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It is unreasonable to pay anyone GH¢14.88 equivalent to $1 a day – John Kwakye

Cedi notes

The Director of the Institute of Economic Affairs, Dr. John Kwakye has described as “unconscionable” the pegging of the minimum wage at GH¢14.88 equivalent to $1 dollar a day.

The dollar is currently selling at GH¢14.95 as of today, November 17, 2022.

His comments come after the National Tripartite Committee (NTC) increased the minimum wage to GH¢ 14.88 from the earlier GH¢13.53.

Dr. Kwakye in a Twitter post on November 17, 2022, wrote: “It’s unconscionable for Govt to pay anybody GHc14.88 (equivalent to US$1.00) a day. It shows the failure of economic management.”

The increase follows the conclusion of negotiations on the determination of the 2023 National Daily Minimum Wage (NDMW) at its meeting held on Wednesday, November 16, 2022, in Accra.

The determination was based on Section 113 (1) (a) of the Labour Act, 2003 (Act 651).

At the end of the meeting, it was concluded that beginning January 1, 2023, the minimum wage would be pegged at GH¢14.88, an increase in the NDMW by 10% over the 2022 NDMW.

This, they noted, was strongly influenced by the current economic crisis.

“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,” a statement by the Committee read.

Ghana’s current inflation stands at 40.4% as of October 2022. This has depleted the purchasing power of most Ghanaians as they have de-cried the stagnant nature of salaries.

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Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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