The National Tripartite Committee (NTC), comprising representatives from the government, employers, and organised labour/associations, has begun negotiations to determine the minimum wage for the year 2025.
The discussions, which commenced on Monday, February 3, 2025, aim to set a fair and balanced wage floor that reflects current economic conditions and the interests of all stakeholders.
These negotiations are critical, as the minimum wage serves as the baseline for wages across various sectors, particularly impacting low-income workers in both the formal and informal sectors of the economy.
The agreed minimum wage will also influence future deliberations on base pay for public sector employees, a process scheduled to follow the completion of the current minimum wage discussions.
Despite the commencement of negotiations, there is growing concern that both the minimum wage and base pay discussions are significantly behind schedule.
According to the Public Financial Management (PFM) Act, these deliberations were expected to be completed by April 2024 to allow sufficient time for their inclusion in the 2025 national budget planning process.
This delay poses challenges for the preparation of the 2025 budget, which relies heavily on finalised wage agreements to allocate resources effectively.
The government, therefore, is urging all social partners including employers, organised labour, and other stakeholders, to expedite the negotiation process.
In a statement issued by Felix Kwakye Ofosu, the Acting Spokesperson to the President, the government reiterated its commitment to fostering a collaborative and inclusive approach to resolving wage issues.
The statement emphasised the importance of completing the negotiations promptly to ensure their timely incorporation into the 2025 Budget.
The minimum wage is a critical tool for protecting the most vulnerable workers in the economy. It sets the standard for fair compensation and is often adjusted to account for inflation, cost of living, and economic growth.
For many workers, the minimum wage represents their primary means of supporting themselves and their families.
Below is the government’s statement.