Cheddar Debunks US$14.9 Million Debt to UK-based Company
Ghanaian businessman Nana Kwame Bediako has denied claims that he owes UK-based company Cola Holdings Limited a debt of US$14.9 million.
In a video broadcast on Friday, he classified a High Court of England and Wales judgement ordering him to pay the said debt as forged document.
According to him, the amount was accrued from a business loss from an oil bloc equally owned by both parties.
The 2024 Independent Presidential Candidate disclosed that his shares in the block have been seized by the company.
“If you own a company with a foreigner and you both owe a debt on the company, how can one person turn this debt into my personal debt? After they held every single document for the business, which is four times the debt, how does it become my debt?
“You already have collateral, and I have paid off debt here. Let’s talk like businesspeople. How did it become Nana Kwame Bediako? It’s a company, and you can’t say I have a debt I’m running away from. No, I don’t. I have not been handed any money of such, and I have proof.”
He challenged the company to come to Ghana to mount that argument using Ghana’s judicial system, as he served notice about his preparedness to face them.
“I will dictate my own history and let you remember that there was a man who came and he stood and fought and he won.”
He further chided the media for propagating falsehood.
Striking in his remarks was a disclosure that Cola was engaging in irresponsible mining in Ghana, destroying the natural resources of the country.
This broadcast comes after it was reported that the foreign judgment was formally registered in Ghana on May 20, 2025, after Cola Holdings Limited applied for the English court’s decision to be recognised and enforced locally.
It was also partly reported that the original judgment was delivered on January 23, 2025, by Deputy Master Sabic KC of the High Court of England and Wales, with variations granted in March and April 2025. Once registered, the judgment became binding and enforceable in Ghana.
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