Businessman and 2024 presidential candidate Nana Kwame Bediako, alias Cheddar, has suffered a major setback in court.
The Accra High Court has dismissed his application seeking to block Cola Holdings Limited from enforcing a massive US$14.9 million judgment against him in Ghana.
US$14.9M PLUS US$3,271 DAILY INTEREST
The judgment at stake is US$14,928,314.70 – about US$14.9 million – with an additional interest of US$3,271.96 every day since 23rd January 2025 at 8% per annum.
The case traces back to a Deed of Indemnity linked to a loan from the International Finance Corporation (IFC) to Kensington Residential Partners 1 Ltd., a company in which both Bediako and Azad Cola are shareholders.
After the company defaulted on the loan, Cola Holdings Limited is said to have paid the IFC and then turned to Bediako to recover the portion he personally guaranteed under the indemnity deed.
Cola Holdings sued in the UK and won at the English High Court. The judgment was then brought to Ghana and registered for enforcement on 20th May, 2025.
CHEDDAR’S BID FAILS
Bediako first tried to set aside the registration of the judgment in Ghana. The court dismissed that attempt in November 2025.
He has appealed that decision, and in the meantime asked the court for an injunction to stop all enforcement until his appeal is decided.
Presiding judge, Her Ladyship Justice Mrs. Awuah Dabanka-Bekoe of the Commercial Division 3, Accra High Court, has refused the application.
The court ruled that Bediako failed to meet the legal threshold for an injunction to stay execution.
In addition, the court slapped Bediako with *GH¢20,000 costs* in favour of Cola Holdings Limited.
WHAT IT MEANS
For now, the US$14.9 million English judgment remains fully registered and enforceable in Ghana. Cola Holdings Limited can proceed with steps to recover the money with the daily interest ticking, unless the Court of Appeal overturns the High Court’s decision. Ghanacrimereport.com and ghanatalk.com