14.88 minimum wage can only buy a loaf of bread, pint of beer – Director of Research IEA

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The Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwabena Kwakye has stated that the recently increased minimum wage of 14.88 minimum wage can only buy a loaf of bread, litre of petrol or a pint of beer.

Taking on his Twitter page at the early hours of March 2, 2023, Dr. Kwakye voiced his dissatisfaction with the recently adjusted minimum wage.

Ghana’s minimum wage was updated by the National Tripartite Committee (NTC) from 13.53 cedis .

The 10% minimum wage increment was added to the 15% Cost-of-Living Allowance (COLA) as announced by the Minister of Employment and Labour Relations, Mr. Ignatius Baffour-Awuah.

The Minister after a three day negotiation with stakeholders; Organised Labour led by Dr. Anthony Yaw Baah, General Secretary of the Trade Union Congress (TUC) and Mr. Dan Acheampong, President of the Ghana Employers’ Association (GEA).

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