Cheddar pledges to establish National Sovereign Wealth Fund as Ghana’s economic backbone

Nana Kwame Bediako, widely known as Cheddar and the founder of the New Force Movement, has unveiled a bold plan to establish a National Sovereign Wealth Fund if he secures victory in the 2024 general election.

Bediako explained that this fund would serve as the cornerstone of Ghana’s economy, aimed at safeguarding the nation’s wealth and resources. He positioned the proposed fund as a direct competitor to the International Monetary Fund (IMF), suggesting that it would diminish Ghana’s dependency on the Bretton Woods institution.

During the New Force Key Policy Launch on Sunday, September 1, Cheddar highlighted the transformative potential of this initiative, promising that it would revolutionize the country’s economic landscape.

He also took a strong stance against the longstanding practice of exporting Ghana’s mineral resources for meager returns, vowing to put an end to such practices.

“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.”