Nana Kwame Bediako vows to create Sovereign Wealth Fund to rival the IMF

The founder and leader of the New Force Movement, Nana Kwame Bediako, has outlined plans to establish a National Sovereign Wealth Fund if given the nod in the upcoming general elections.

According to him, the Fund will serve as Ghana’s economic backbone to secure the country’s wealth and natural resources.

Presenting a set of policy ideas to launch his manifesto on September 1, 2024, the New Force leader said the Fund will be positioned to rival foreign support from the International Monetary Fund (IMF) and World Bank to reduce over-reliance and dependency.

“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,” Bediako explained.

He concluded that the Fund will ensure a transformative impact on Ghana’s economy and its natural resources when established.

MA/AE