Ghanaian Businessman Cheddar Fights $14.9M UK Court Ruling

Prominent Ghanaian entrepreneur and former presidential candidate Nana Kwame Bediako, widely known as Cheddar, has returned to the UK High Court in a bid to overturn a hefty $14.9 million judgment. The legal battle stems from a property development dispute involving the No. 1 Oxford Street luxury apartment complex in Accra.

The original January 2025 ruling ordered Bediako to pay the multimillion-dollar sum to Cola Holdings Limited, the property investment arm of the London-based Cola family. The financial dispute traces back to an $18 million loan secured from the International Finance Corporation to fund the 108-unit apartment project. When the loan was called in April 2023, the Cola family asserted that Bediako was liable for half of the outstanding balance, ultimately leading to the UK court judgment.

However, Bediako’s legal team has filed a new claim challenging the authenticity of the paperwork used to establish his liability. His lawyers argue that the signature on the deed of indemnity was neither authorized nor made by him. Furthermore, court filings indicate that immigration records place Bediako in Nigeria on the exact date the document was purportedly signed in his Accra office.

The defense has raised questions regarding an electronic version of Bediako’s signature and the involvement of his former executive assistant, Reginald Sittie. While refraining from making direct bribery accusations, Bediako’s legal representatives pointed out that Sittie received a luxury Rolex watch from Azad Cola in 2018, questioning the independence of his actions during the business dealings. Bediako is now seeking to set aside the original judgment and claim compensation for losses incurred, while also defending his business interests in ongoing Ghanaian receivership proceedings concerning the property. Cola Holdings has strongly denied the fraud allegations, with a representative confirming the family intends to mount a robust defense in the UK court.

Read the full report on Nile Post.