Nana Kwame Bediako is a business mogul and President of the Kwarleyz Group
The 2024 presidential candidate for the New Force, Nana Kwame Bediako has clarified circumstances surrounding a US$14.9 million judgment being enforced in Ghana following a ruling from a court in the United Kingdom, stressing that legal processes are still ongoing.
In a statement addressed to the public on January 23, 2026, the business mogul and President of the Kwarleyz Group, Bediako said recent reports circulating in both traditional and social media had misrepresented the facts surrounding the judgment, which was obtained by Cola Holdings Limited.
According to Bediako, he never contracted any loan from Cola Holdings Limited nor did the company make any payment to him personally.
“I have not contracted any loan from Cola Holdings Ltd and Cola Holdings Ltd has not paid any money to me. The transaction leading to the said judgment is based on a loan contracted by Kensington Residential Partners 1 Limited (KRP 1) from the International Finance Corporation (IFC).
“The shareholders of KRP 1 are myself and Mr Azad Cola, who is the owner of Cola Holdings Limited. I was therefore surprised when I was informed that Cola Holdings Limited had commenced an action against me personally in the United Kingdom (UK) to recover the loan which was contracted by KRP 1 from IFC.
Cheddar ordered by High Court to pay over US$14.9 million debt
“Whiles I was still in discussions with the representatives of KRP 1 to ascertain what has truly gone on, I was informed that a date has been set for judgment to be delivered in the UK in respect of that suit.
“I found out later that the lawyers I hired to engage the lawyers of Cola Holdings in the UK did not file any processes in defence to the action, “part of the statement said.
Following the registration of the UK judgment in Ghana, Bediako said he instructed his Ghanaian lawyers to oppose its enforcement, arguing that the judgment was fraudulently obtained and that enforcing it would be contrary to public policy.
“I instructed my lawyers in Ghana to resist the enforcement of the judgment in Ghana on grounds that the judgment was obtained by fraud and its enforcement will be against public policy.
“After the High Court Judge refused to set aside the registration of the foreign judgment, I have instructed my lawyers in Ghana to file an appeal against that decision.
“I have also instructed my lawyers to file processes to ensure that the purported judgment from the UK is not enforced pending the exhaustion of all appeal processes.”
He described this as unjust enrichment and an abuse of the court process, arguing that Cola Holdings failed to disclose to the UK court that it had already commenced proceedings against KRP 1 in Ghana over the same debt.
According to him, this alleged concealment of material facts amounted to fraudulent misrepresentation, which misled the UK court into granting judgment against him.
“It is also worthy of note that Cola Holdings did not disclose to the Courts in U.K that it had also commenced proceedings to enforce that same debt against KRP 1 in Ghana. This concealment of material facts from the courts in U.K is the fraudulent misrepresentation which misled the court in UK to grant the judgment against me.
“I wish to assure the general public that I believe in the rule of law and the justice delivery system in Ghana.
“I am certain that after all the processes have been exhausted, truth will stand and no amounts of machinations by foreigners and their Ghanaian cohorts will derail my efforts to contributing my quota to the development of Ghana and Africa as a whole,” the statement added.
AM
