The founder and leader of the New Force Movement, Nana Kwame Bediako (Cheddar), has declared that if elected in the 2024 general election, he will create a National Sovereign Wealth Fund.
Cheddar described this fund as the future backbone of Ghana’s economy, intended to safeguard the nation’s wealth and resources.
He highlighted that the new fund would rival the International Monetary Fund (IMF), aiming to reduce Ghana’s dependency on the traditional Bretton Woods system.
During the New Force Key Policy Launch on Sunday, September 1, Bediako stressed the transformative potential of this initiative for the country’s economic future.
Cheddar also condemned the long-standing practice of exporting Ghana’s minerals for minimal returns, vowing to end such exploitation if given the mandate.
“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.
“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.”