Cheddar ordered by High Court to pay over US$14.9 million debt

The High Court (Commercial Division) in Accra has ordered 2024 presidential candidate for the New Force, Nana Kwame Bediako, popularly known as Cheddar, to pay more than US$14.9 million, plus interest and costs, to Cola Holdings Limited, a UK-based company.

The ruling was cited in a publication by the Daily Graphic on Thursday, January 22, 2026. The enforcement follows a judgment issued by the High Court of England and Wales against Chadder, who also doubles as a business mogul.

The report indicated that the foreign judgment was formally registered in Ghana on May 20, 2025, after Cola Holdings Limited applied to have the English court’s decision recognised and enforced locally.

The original judgment was delivered by Deputy Master Sabic KC of the High Court of England and Wales on January 23, 2025, with subsequent variations granted. In addition, the court awarded GH¢15,000 in legal costs to Cola Holdings Limited.

“At the prevailing Treasury exchange rate of GH¢16.15 to the US dollar, the total amount due, including interest and costs, translates to approximately GH¢258.76 million,” the report quoted court records as stating.

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The total sum remains subject to further increase as interest continues to accrue until the debt is fully settled.

The court also granted an order for substituted service, allowing the judgment to be served by posting copies at the respondent’s residence at 13 Avenue Lincoln, Osu, on the High Court notice board, and through a one-time publication in the Daily Graphic.

The notices are to remain posted for seven days between March and April 2025. Once registered, the judgment became legally binding and enforceable in Ghana.

Per the news report, the court has ordered Nana Kwame Bediako to pay US$14,928,314.70 as the principal judgment debt, together with interest at a rate of eight percent per annum, calculated from January 23, 2025, until full payment is made.

As of December 23, 2025, the accrued interest alone amounted to US$1,092,834.64.

AM

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