{"id":1123958,"date":"2022-06-16T10:35:04","date_gmt":"2022-06-16T10:35:04","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/06\/16\/ghana-pays-lowest-salaries-sells-petrol-dearest-and-runs-highest-inflation-in-africa\/"},"modified":"2022-06-16T10:35:04","modified_gmt":"2022-06-16T10:35:04","slug":"ghana-pays-lowest-salaries-sells-petrol-dearest-and-runs-highest-inflation-in-africa","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/06\/16\/ghana-pays-lowest-salaries-sells-petrol-dearest-and-runs-highest-inflation-in-africa\/","title":{"rendered":"Ghana pays lowest salaries, sells petrol dearest and runs highest inflation in Africa"},"content":{"rendered":"

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Ghana is about the most expensive country to live in in Africa. This is because, while inflation is zooming through the roofs, salaries are at the lowest ebbs and petrol sells at the ex-pump at a cut-throat price.<\/p>\n

What this means is that \u2013 in Ghana \u2013 most workers get less than peanuts in the name of salaries, spend almost all on food and transport the cost of which are very high; and, the situation keeps worsening because of galloping inflation.<\/p>\n

Our Adom Brands Research Team came to the conclusion after unearthing startling figures of inflation, minimum wage, and fuel prices in Ghana as they contrast sharply with a section of African economies.<\/p>\n

Just this past month, May, 2022, whereas Ghana\u2019s inflation was as high as 27.6 percent (racing towards 30 percent), inflation in the Republic of South Africa was as low as \u2013 5.9 percent. If you consider South Africa distant or more advanced, the research finding on neighbouring La Cote d\u2019Ivoire could perplex you even the more. The Ivory Coast\u2019s inflation is as low as 4 percent!<\/p>\n

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What comes close to consolation to Ghana in terms of inflation is oil-rich Angola which posted an inflation figure of 24.42 percent in May. <\/p>\n

But, even at 24 percent, the Angolan inflation is less bad than Ghana\u2019s. Even Africa\u2019s biggest economy \u2013 Nigeria \u2013 whose leaders are historically noted for economic mismanagement has a wieldier figure than Ghana\u2019s: 17.4 percent.<\/p>\n

It is further worthy of note that, as all nations wail against the scourge of coronavirus, its attendant global economic meltdown and the Russian-Ukrainian war which is spiralling oil prices; there are some African economies still managing inflation at single digits.<\/p>\n

As already mentioned in this research finding story, South Africa posted 5.9 percent and Ivory Coast \u2013 4 percent in May. But there are more: Kenya \u2013 7.1; Togo \u2013 7.5; and, Botswana \u2013 9.6 percent.<\/p>\n

And, there are those economies with double digit inflation figures that are nowhere near 20 percent: The Gambia \u2013 11.6; Rwanda \u2013 12.6; and Africa\u2019s third biggest economy, Egypt \u2013 13.5 percent.<\/p>\n

In terms of purchasing power, the financial ability to buy products and services, which is dependent on wages and salaries; Ghana gives her employees some of the lowest salaries.<\/p>\n

Currently, minimum wage in Ghana is 13.53 Cedis \u2013 which translates into just one dollar, 69 cents ($1.69). Cross the border to neighbouring Togo and the minimum wage is $2.32. If you turned westwards rather to Cote d\u2019Ivoire, you would be luckier \u2013 $3.99 is the minimum wage there. <\/p>\n

In South Africa, minimum wage is calculated per hour; not per day. South Africa\u2019s minimum wage per hour is $1.44 \u2013 $11.44, if you work eight hours a day, for that matter. Botswana is in the category that pays per hour \u2013 60 cents per hour \u2013 which means $4.8 for a full day\u2019s work in eight hours.<\/p>\n

Nigeria\u2019s minimum wage for the full month is 30,000 Naira or $72.27; in other words, in the about-24 working days, the daily minimum wage is $3.0. South Africa\u2019s daily minimum wage is $11.52. Egypt\u2019s is around $174 per month \u2013 or, $7.25 per day; Kenya: $129.07 per month \u2013 or, $5.37. Angola, which has a considerably high inflation figure of 24.42 percent, kind of compensates for that in her minimum wage. Angola\u2019s minimum monthly salary is $74.26 \u2013 or, $3.09 per day.<\/p>\n

The only economy that Ghana beats in terms of minimum wage is the tiny Gambia. In Banjul and neighbouring towns, minimum wage is 50 dalasi or $1.25 \u2013 44 cents less than Ghana\u2019s $1.69.<\/p>\n

In Ghana where inflation is at 27.6 percent, the smallest worker is paid $1.69 cents to travel on commercial vehicles and buy food conveyed on trucks \u2013 the drivers of which buy fuel at 11.00 Cedis per litre. That is $1.38 per the litre.<\/p>\n

Contrast that with Nigeria where inflation is at 17.4 percent, minimum wage \u2013 $3.0 and a litre of fuel sells at only 42 cents. Ivory Coast\u2019s petrol is almost as expensive as Ghana\u2019s \u2013 $1.206 per litre. But, as pointed out already, Ivory Coast\u2019s inflation is at just 4 percent; her minimum wage, is $3.99 (almost 4 dollars). Egypt: inflation \u2013 13.5percent; minimum wage \u2013 $7.25; petrol \u2013 52 cents. Kenya: inflation \u2013 7.1percent; minimum wage \u2013 $5.37; petrol \u2013 $1.301 per litre.<\/p>\n

Botswana: inflation \u2013 9.6percent; minimum wage \u2013 $4.8; petrol \u2013 $1.166 per litre. Rwanda: inflation \u2013 12.6percent; minimum wage \u2013 $2.50; petrol price \u2013 $1.321 per litre. Togo: inflation \u2013 7.5%; minimum wage \u2013 $2.32; petrol price \u2013 $1.025 per litre. Angola: inflation \u2013 24.42percent; minimum wage \u2013 $3.09; petrol price \u2013 0.374 cents per litre. RSA: inflation \u2013 5.9%; minimum wage \u2013 $11.52; petrol price $1.545.<\/p>\n

Again, Ghana has none other to compare with favourably than tiny Gambia. The Gambia: Inflation \u2013 11.6 percent; minimum wage \u2013 $1.25; petrol price \u2013 $1.29 per litre.<\/p>\n

Even here, it is not quite; for, whereas Ghana has an inflation figure of 27.6percent, Gambia\u2019s is only 11.6 percent!<\/p>\n

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