Skip to main content

2009 Minimum Wage up by 18%

… Are workers enthused?

By Bernard Ato ARTHUR
After exhaustive consultations for over the past four weeks, the National Tripartite Committee (NTC) has agreed on an increase on the 2008 National Daily Minimum Wage, which stood at Gh¢2.25 with effect from April 1, this year.

The committee, which started a series of meetings late February this year, concluded its negotiations on the 2009 daily minimum wage last Friday, April 3.

Kofi Asamoah, the secretary-general of the Ghana Trades Union Congress (TUC) disclosed that there was serious agitation at certain points of negotiations because government had budgeted for a 12.5% increase and argued that if it is pushed further it will affect government’s expenditure for the year.

He also blamed the delay in determining the new minimum wage largely on the political transition process. The sub-technical committee also works out modalities to restore the face value lost as a result of inflation, among other things.

In a communiqué issued and signed by Stephen Amoanor Kwao, Minister for Employment and Social Welfare, Alex Frimpong, acting Executive Director of Ghana Employers Association and Kofi Asamoah, Secretary-General of TUC, it is noted that the minimum wage is tax exempt, and all institutions and establishments which currently pay below the new wage are mandated to adjust wages accordingly.

While a cross-section of workers who spoke to BusinessWeek noted that they had anticipated government would have been much more magnanimous to workers, a labour analyst noted that the time is rife for government to desist from invariably calling on labour to make sacrifices.

Government has therefore been admonished to consider areas of the national budget where cuts can be made to cushion labour in next year’s public spending plans.

“The government knows the untold economic hardship that workers in the country endure, we therefore need to be sufficiently motivated in order to give off our best,” some workers lamented.

Comments

Popular posts from this blog

Fitch Solutions retains 2025 growth rate projection at 4.2%

 Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...

BoG injects $20m into FX market to support 11 BDCs

  The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

  As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...