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I BORROWED FROM THE WORLD BANK TO FINANCE MY NO.1 OXFORD STREET HOTEL – Cheddar

Nana Kwame Bediako, popularly known as Cheddar, has claimed that he borrowed money from the World Bank to build his Number 1 Osu Oxford Street hotel.

In a January 12, 2024, interview with Joy News, he talked candidly about the difficulties he faced financially and how he eventually overcame them to pay off the debt that had initially been necessary to construct the fourteen-story structure with 104 rooms.

Cheddar clarified that he and a business associate had obtained the financing to finance the project, which was situated in the Accra neighborhood of Osu.

“I think that Ghana wants to know ‘how are you funding all of this when you build, they say how are you building all of this?’

“People are not even asking; do you owe some banks? If so, how do you sleep?

“I used to owe the World Bank; they were the first people I decided to borrow from when we were building the number 1 Oxford hotel.

“My partner and I we just wanted that badge, you know myself and my partner and we have managed to pay it off because we realized that we were becoming slaves to the loan, it is a tough thing and now I am quite that free,” he said.

 

 

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