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    Nigeria’s national debt hits an all time as the country struggles with repayment

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    Deadline for debt exchange program moved to February 7 with new terms

    Government finally makes progress on Debt Exchange Program

    Policy Rate increased by 100 basis points; now at 28%

    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telecel

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

  • TECHNOLOGY

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

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Govt, Organized labour agree on 30% base pay increment

bycitibusinessnews
January 13, 2023
in Business, News, Top Stories
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Government has agreed to increase the base pay on the Single Spine Salary Structure by 30% for all public sector works.

This comes after several negotiations it had with Organized Labour.

The group earlier demanded a 60% increment as compensation for the harsh economic conditions.

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Minister for Employment and Labour Relations, Ignatius Baffour Awuah said the payment takes effect from January 1, 2023.

The Civil and Local Government Staff Association of Ghana (CLOGSAG) has assured of also working collectively with government to increase its revenue base to aid in the development of the country.

Finance Minister, Ken Ofori-Atta also said even though the increment will have a toll on the budget, government is committed to ensuring a peaceful environment on the labour front.

UPDATE ON ORGANIZED LABOUR MEETING WITH GOVERNMENT ON BASE PAY

“Today, January 12, 2023, organized labour honoured the invitation by Fair Wages and Salaries commission to continue with the deliberation on the base pay.

Present at the meeting were the Minister for Employment and Labour Relations with his deputy, the Deputy Minister of Finance, and her team and Chief Executive Officer for the Fair Wages and Commission.

The Minister for Employment opened the meeting and informed the house that government was ready to offer 25% and labour also revised it position from 50% to 35%.

After several caucuses government side moved to 27% which was rejected by labour and labour also moved to 30% which happens to be the fall back that will never be revised.

The meeting was joined by the Minister of Finance and pleaded with labour to accept 27% and later moved to 28.5%. After several discussions it was agreed by both Government and labour to increase the base pay by 30%.

Therefore It is for our information that the base pay for 2022 is increased by 30% for 2023.

Official signed MoA will be released soon.

Thank you!!!”

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