Michael Blackson Criticizes Government Over Eurobond Losses Affecting School Funding

Ghanaian-American comedian and actor Michael Blackson has expressed frustration with the Ghanaian government, claiming it has negatively impacted his investments intended to fund his free school, the Michael Blackson Academy, in Agona Nsaba.

In a series of posts on X (formerly Twitter), Blackson explained that he invested in Eurobonds to support the long-term operation of his school.

However, he said his investment returns have been severely affected by the government's debt restructuring efforts.

"Ghana decided to use our money to pay their debt to China or whoever and leave us hanging," Blackson wrote.

He went on to criticize the Finance Ministry for offering bondholders challenging terms, including either a 37% cut with 5% interest over 11 years or a smaller cut with only 1.9% interest over 15 years.

Despite these financial setbacks, Blackson remains committed to running his academy, which offers free education and uniforms to children from kindergarten to Basic 3.

“If it wasn’t for the love and passion I have for the unprivileged youth of Ghana, I would just hand my school to the people and walk away,” he added.

The Michael Blackson Academy, founded three years ago, continues to provide educational support to children in the community despite the obstacles Blackson faces in securing sustainable funding.graphiconline