Nana Kwame Bediako Denies $14.9M Debt to British Firm, Announces Appeal Against Court Judgment
- Nana Kwame Bediako has publicly spoken after reportedly suffering a major legal setback at the Accra High Court
- In a video, the business mogul and politician clarified the circumstances surrounding the court's judgment
- Nana Kwame Bediako also shared his plans to appeal against the court's decision and vindicate himself in the matter
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Prominent Ghanaian business mogul and politician Nana Kwame Bediako, popularly known as Cheddar, has broken his silence after an Accra High Court reportedly ordered him to pay out a debt of $14,928,314.70 to the British company Cola Holdings Limited.
Source: Facebook
According to a Daily Graphic publication on January 22, 2026, the judgment was an enforcement of an earlier order issued by the High Court of England and Wales against Cheddar in a case stemming from a business deal between the two parties that went wrong.
Cola Holdings subsequently sued the real estate developer for breach of contract and won in a judgment delivered by the Deputy Master Sabic KC of the High Court of England and Wales on January 23, 2025.
On May 20, 2025, the British company registered the judgment in Ghana and subsequently sought an order from the Accra High Court to have it locally enforced.
Per the High Court's ruling, Nana Kwame Bediako is to pay back US$14,928,314.70 as the principal judgment debt at an interest rate of eight per cent per annum at a prevailing exchange rate of GH₵16.15 per dollar.
The judgment also included costs of GH₵15,000 against the Ghanaian businessman.
According to Citinewsroom, the debt currently stands at GH₵258.76 million.
The High Court ordered that the judgment be served by posting copies at Nana Kwame Bediako's residence at 13 Avenue Lincoln, Osu, as well as via the Daily Graphic publication.
Below is a Twitter post with details of the case against Cheddar:
Nana Kwame Bediako denies US$14.9 million debt
In a video he shared on Instagram on Friday, January 23, 2026, Nana Kwame Bediako dismissed claims that he personally owed Cola Holdings Limited US$14.9 million.
The New Force party leader noted that the debt was related to a separate company, Kensington Residential Partners 1 Limited, and not to him as an individual.
He clarified that although he is connected to a business venture involving Azad Cola of Cola Holdings, the debt had not been incurred by him in his personal capacity.
Bediako stressed that the obligation arose solely from a corporate partnership arrangement and had not extended to his individual finances.
According to him, no personal funds or loans were used in the transaction, and the judgment debt should not be attributed to him as an individual.
Source: Facebook
He alleged that the UK judgment was made through non-disclosure and fraud and that his lawyers failed to properly defend the case.
Cheddar argued that enforcing the same debt against multiple parties amounted to an abuse of the court process and that he had filed an appeal in Ghana to contest the judgment.
The business mogul added that he had taken steps to halt enforcement of the judgment and expressed confidence that the legal process will ultimately exonerate him from any wrongdoings.
Cheddar therefore urged the public to distinguish between his personal affairs and the liabilities of the business entity involved.
The Instagram video of Nana Kwame Bediako speaking about the reported US$14.9 million debt after the court ruling is below:
Nana Kwame Bediako's remarks stir reactions
YEN.com.gh has gathered some comments from social media users below:
Waddlemoni commented:
"They can’t bring you down. Still, we go vote give you."
Elikemdablor said:
"Same thing they're probably doing to Kevin Okyere."
Mace__ny wrote:
"Don't explain, koraa. Who has no debt in this world?"
Cheddar's son Goddy Bediako returns to Ghana
Earlier, YEN.com.gh reported that Cheddar Bediako's son had returned to Ghana after many months of schooling abroad.
In a viral video, Goddy Bediako made a grand appearance at the Supercar Spectacle event in Accra on December 21, 2025.
He courted attention from netizens as he cruised in an expensive luxury car with his younger brother and their close associate.
Proofreading by Bruce Douglas, copy editor at YEN.com.gh.
Source: YEN.com.gh
