- Cheddar plans to establish a National Sovereign Wealth Fund to secure Ghana's wealth and resources
- The fund aims to compete with and challenge the traditional role of the IMF
- Cheddar promises to halt the export of Ghana’s minerals
Nana Kwame Bediako, founder and leader of the New Force Movement, has announced that if he wins the 2024 general election, he will establish a National Sovereign Wealth Fund.
Bediako, popularly known as Cheddar, stated that this fund would serve as Ghana’s new economic backbone, designed to secure the nation’s wealth and resources.
He added that the new fund would be positioned to compete with the International Monetary Fund (IMF), challenging the traditional reliance on the Bretton Woods institution.
Speaking at the New Force Key Policy Launch on Sunday, September 1, Bediako emphasised the transformative impact this fund would have on the country’s economy.
Cheddar also criticised the longstanding practice of exporting Ghana’s minerals for minimal returns, pledging to end such 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.
“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.”
