Ghanaian-American comedian and actor Michael Blackson has announced his intention to sue the Ministry of Finance over the mismanagement of his Eurobond investment. Blackson, who is widely known for his philanthropic work, especially in funding the Michael Blackson Academy, a free school he established in Agona Nsaba, expressed frustration at being unable to access his investment, which was meant to support the school.
In a series of social media posts on October 14, 2024, Blackson voiced his discontent with the government’s handling of the situation and revealed his plan to take legal action. “I’m seeking legal actions against the finance ministry of Ghana. I have a free school I’m financing on my own, and they took away the potential earnings I was going to use to fund the school. Now I have to figure something else out for those poor kids,” Blackson wrote.
The comedian had invested in Eurobonds, believing it would provide a steady return to fund the sustainability of his school project. However, due to financial challenges, his funds have been locked up, leaving him unable to recover the investment.
Blackson further expressed his disappointment, claiming that the government prioritized paying debts to other countries while leaving investors like him “hanging.” He said, “Ghana decided to use our money to pay their debt to China or whoever and leave us hanging.”
The legal action, as announced by Blackson, underscores the growing frustration among investors who have been affected by Ghana’s debt management strategies, particularly regarding its Eurobond repayments. Many, like Blackson, have seen their funds locked up, sparking concerns over the impact on personal and philanthropic ventures.
As he now seeks alternative sources of funding for his school, Blackson’s legal battle against the Ministry of Finance is set to highlight the broader challenges investors are facing in Ghana’s current economic climate.
