Michael Blackson on Ghana’s debt exchange programme on his investment

Comedian and actor Michael Blackson has voiced his deep disappointment with the Ghanaian government following its default on Eurobond payments.

Blackson, who is of Ghanaian descent, had invested in Eurobonds to support his charitable project, the Michael Blackson Academy, located in Agona Nsaba. In a series of posts on X (formerly Twitter), he expressed frustration over the government’s decision to prioritize debt repayments to other nations, particularly China.

He explained that his investment was meant to ensure the long-term sustainability of the free school he established, but the government’s actions have put these plans at risk. Blackson also criticized the Ghanaian Finance Minister, highlighting the government’s two unfavorable options for bondholders: either a significant haircut with lower interest rates and a longer maturity period, or a lower interest rate with an even longer maturity.

Despite his disappointment with the government’s handling of the situation, Blackson remains dedicated to the success of his academy.

Founded three years ago, the Michael Blackson Academy provides free education from kindergarten to Basic 3, along with free uniforms for its students. His investment in Eurobonds was intended to secure the future of the academy, but the government’s default has created significant uncertainty around his plans.

Source:Omanghana.com