American comedian and actor with Ghanaian roots, Michael Blackson, has expressed his frustration with the Ghanaian government for jeopardizing his investments.
In a recent series of posts on social media, Michael revealed that he had purchased Eurobonds to fund his school in Agona Nsaba, known as the Michael Blackson Academy. However, he has encountered difficulties in reclaiming his investment.
Michael explained that he opted for Eurobonds as a way to sustain the free school he had established. However, he lamented that the Ghanaian government diverted the funds to settle debts with China or other entities, leaving investors like him stranded.
This decision forced investors to choose between accepting a 37% reduction in returns with a 5% interest rate over an 11-year period or forgoing the cut but receiving a meager 1.9% interest over 15 years.
Expressing his disappointment, Michael called out the Finance Minister for the predicament.
He expressed his disappointment in the government’s handling of the situation, particularly towards the African diaspora who had shown interest in investing in the continent.
The Michael Blackson Academy, established three years ago, offers free education to children from kindergarten to Basic 3, including providing free uniforms to the pupils.
Despite the challenges, Michael remains resolute in his commitment to keeping the school operational.
In a social media post, Michael stated, “If it wasn’t for the love and passion I have for the underprivileged youth of Ghana, I would just hand my school to the people and walk away.”
