Accra High Court dismisses Bediako's application in Cola Holdings case

The High Court in Accra has dismissed an application by businessman Nana Kwame Bediako, also known as Cheddar, to restrain the enforcement of a $14.9 million judgment in favor of UK-based Cola Holdings Limited. Justice Doris Awuah Dabanka-Bekoe of the Commercial Division also awarded GH¢20,000 in costs against Bediako.

The dispute originated from a Deed of Indemnity signed by Bediako regarding his share of a loan repayment to the International Finance Corporation (IFC). Cola Holdings had guaranteed the loan for Kensington Residential Partners 1 Ltd, a company in which Bediako and Azad Cola hold shares. After a default occurred, Cola Holdings settled the loan with the IFC and subsequently sought repayment from Bediako.

A judgment was obtained against Bediako personally in the English High Court on January 23, 2025, and was registered in Ghana on May 20, 2025. The English court ordered Bediako to pay $14,928,314.70 plus 8% annual interest. Bediako has argued that the debt is a corporate obligation rather than a personal one and has challenged the propriety of the judgment, but the court found his grounds for appeal did not establish arguable points to stay the execution.