Local Markets 5 African countries with the lowest minimum wage at the start of 2024

Low minimum wage levels have a significant and wide-ranging effect on African economies. The effects are complex and linked, ranging from a worsening of social and economic inequality to impeding growth and stability. The minimum wage is crucial as many nations are fighting to keep their citizens out of poverty and maintain ethical work practices. But the minimum wage is still quite low in many African countries.

A report by Yahoo Finance shows that 4 of the 5 countries in the world with the lowest minimum wage as a measure of minimum hourly wage, are African.

The data from the report which dates back to January 18, 2024, takes into consideration a 'total' as a sex label to get wages for both men and women and 'skill level 1, low' to get data for the minimum wage that can be earned with low or no skill level.

It also defines minimum wage as the wage that can be earned with no to minimal skills, with data from the International Labour Organization's Average Hourly Earnings database, consulted.

Yahoo Finance also used sources such as the World Bank and government websites of the respective countries, to cite GDP per capita, population data, economic outlook, and minimum wage for each item on the list.

The result is a list of 20 countries in the world with the lowest minimum wage, 7 of which are African countries.

With that said, below are 5 African countries with the lowest minimum wage per hour according to Yahoo Finance.