Nana Kwame Bediako, the founder and leader of the New Force Movement, has pledged to establish a National Sovereign Wealth Fund if he wins the 2024 general election. Known popularly as Cheddar, Bediako envisions this fund as Ghana’s new economic cornerstone, aimed at safeguarding the nation’s wealth and resources.
This proposed fund is intended to position Ghana as a formidable economic force, challenging the country’s traditional reliance on the International Monetary Fund (IMF). Speaking at the New Force Key Policy Launch on Sunday, September 1, Bediako highlighted the transformative potential of the fund, stating it would serve as a new “IMF” for Ghana—one that is independent and autonomous.
Cheddar also condemned the practice of exporting Ghana’s minerals for minimal returns, vowing to end this exploitation if elected.
“We are going to create the National Sovereign Wealth Fund; this is the new IMF. Well, at this very point, Ghana will help me launch the new IMF. Because verbally it is said but physically and mentally, we are about to implement it. This pillar is a new policy and it will disrupt and dissolve but eventually, it will rebuild our heritage value.
He continued, “In the past, our minerals have been extracted and exported for pennies, we are ending it. The National Sovereign Wealth Fund is the new IMF, independent and autonomous. It will collect every reserve and will keep it and protect it.”
