This paper provides comprehensive analyses of Ghana’s minimum wage. It provides researched information on various aspects of the minimum wage in Ghana including the history, the legislative and institutional structures for the fixing of the minimum wage and detailed review of both the theoretical and empirical debates regarding the desirability or otherwise of having a minimum wage. The paper addresses the technical and political processes involved in the fixing of the minimum wage. Further, it analyses the strengths and weaknesses of the minimum wage in Ghana. It also evaluates the minimum wage in the context of its poverty reduction objective. The paper provides the basis for the transformation of the existing minimum wage into a Living Wage.