Ghanaian-American comedian and actor Michael Blackson has opened up about his struggles to retrieve his $1.2 million investment, which was locked in Ghana’s domestic debt exchange programme (DDEP).
In an interview with VladTV, Blackson explained that his money, originally meant for philanthropic projects, was caught in the government’s debt restructuring efforts.
“I had money in Eurobonds for stability, but when Ghana’s debt crisis hit, they stopped payments,” he said. “Then someone in the government said he could get my money back, but he needed 10%. I refused.”
Blackson, known for building a free school in Ghana, expressed disappointment in how the previous administration managed the crisis.
He accused the NPP administration of prioritising external debt payments over the concerns of local investors.
Instead of honouring their financial obligations, he claimed the government gave him two difficult choices: accept an immediate 37% loss with reduced interest rates or wait 15 years for full repayment with significantly lower returns.
Determined not to pay a bribe, Blackson chose to fight for his investment. He emphasised that the money was meant to fund free education, highlighting his frustration over how funds were mismanaged.
“This money was supposed to educate kids for free. I’m doing the government’s job by building schools, and yet this happens,” he lamented.
Despite his frustration, Blackson made it clear that he holds no grudge against Ghana as a country, but rather against the previous NPP government and officials for mishandling investors’ funds.
“I love Ghana. It’s a great country with great people. My issue is with those in office at that time,” he said.
His revelations add to the growing concerns among investors affected by Ghana’s debt restructuring, with many calling for government intervention to address their financial losses.
Below is the full interview:
