In a significant legal development, the High Court's Commercial Division in Accra has mandated Nana Kwame Bediako, famously known as Cheddar and a 2024 presidential candidate for the New Force party, to settle a debt exceeding US$14.9 million. This ruling also includes additional costs and accrued interest owed to Cola Holdings Limited, a company based in the United Kingdom.
According to a report by citinewsroom, this decision was highlighted in an article published by the Daily Graphic on January 22, 2026. The order comes as a result of a prior judgment made by the High Court of England and Wales against Cheddar, who is not only a political figure but also recognized as a business entrepreneur.
The report notes that the initial foreign judgment was officially registered in Ghana on May 20, 2025, following Cola Holdings Limited's application to have the English court’s ruling acknowledged and enforced within the country.
This judgement was handed down by Deputy Master Sabic KC of the High Court in England on January 23, 2025, with subsequent adjustments being granted. Furthermore, the court awarded legal fees amounting to GH₵15,000 to Cola Holdings Limited.
At the current Treasury exchange rate of GH₵16.15 for each US dollar, the total amount owed, factoring in both interest and costs, reaches approximately GH₵258.76 million. This figure is expected to rise as interest continues to accumulate until the debt is completely paid off.
Additionally, the court approved an order for substituted service, permitting the judgment to be served through various methods, including posting copies at Cheddar's residence on 13 Avenue Lincoln, Osu, displaying it on the High Court notice board, and through a one-time announcement in the Daily Graphic newspaper.
These notices are set to remain on display for seven days during March and April 2025, and once registered, the judgment becomes enforceable under Ghanaian law.
Per the news report, Nana Kwame Bediako is required to pay a principal judgment amount of US$14,928,314.70, which will accrue interest at an annual rate of eight percent, effective from January 23, 2025, up until the debt is fully cleared. As of December 23, 2025, the accumulated interest alone had reached US$1,092,834.64.
In a related note, there’s a buzz among Ghanaians regarding political developments, especially surrounding Ofori-Atta's recent detention, showcasing the dynamic discourse in the nation.
