Businessman and politician Nana Kwame Bediako has suffered another legal setback after an Accra High Court rejected his application seeking to prevent Cola Holdings Limited from enforcing a US$14.9 million judgment against him in Ghana.
The High Court’s Commercial Division 3 dismissed Nana Bediako’s application and awarded GH¢20,000 in costs against him in favour of Cola Holdings Limited.
Justice Mrs Awuah Dabanka-Bekoe, who presided over the case, dismissed the application filed on Nana Bediako’s behalf by his lawyer, Mr Bobby Banson.
Nana Bediako had asked the court to grant an injunction restraining Cola Holdings from enforcing an English High Court judgment pending the determination of his appeal against an earlier ruling.
The English judgment, dated January 23, 2025, was obtained against Nana Bediako personally and subsequently registered at the High Court in Ghana on May 20, 2025, paving the way for enforcement in the country.
The latest application followed an earlier legal setback suffered by Nana Bediako when the Commercial Division 3, on November 27, 2025, dismissed his application seeking to set aside the registration of the English judgment in Ghana.
The London judgment ordered Nana Bediako to pay US$14,928,314.70, or its equivalent in British pounds at the date of payment, to Cola Holdings Limited.
He was also ordered to pay continuing interest of US$3,271.96 per day from January 23, 2025, at an annual rate of eight per cent on the judgment sum.
The dispute stems from a Deed of Indemnity executed by Nana Bediako in connection with his share of the repayment of a loan obtained from the International Finance Corporation (IFC).
Cola Holdings Limited had guaranteed a loan granted to Kensington Residential Partners 1 Ltd, a company in which Nana Bediako and Azad Cola hold shares.
Following a default on the loan, the IFC reportedly called on Cola Holdings, as guarantor, to settle the outstanding amount.
Cola Holdings subsequently paid the amount and later acquired the IFC’s interest in the loan. The company then sought to recover from Nana Bediako the portion of the outstanding loan covered by the indemnity.
After attempts to recover the money proved unsuccessful, Cola Holdings commenced legal proceedings against Nana Bediako before the High Court in London.
The London court ultimately ruled in favour of Cola Holdings and ordered Nana Bediako to pay the multimillion-dollar sum.
Cola Holdings later registered the judgment at the Commercial Division of the High Court in Accra to enable it to pursue enforcement proceedings in Ghana.
Nana Bediako subsequently challenged the registration and, after losing that application, sought to prevent enforcement while pursuing an appeal.
However, the Accra High Court has now rejected that latest bid, leaving the registered English judgment subject to enforcement proceedings in Ghana, subject to any further orders from the courts.
The ruling represents a significant setback for Nana Bediako in his ongoing legal battle with Cola Holdings over the multimillion-dollar judgment.
