On 17 September 2024, Blackson took to X to share his frustration over the lost funds, which he had invested to support his school in Ghana.
Popular Ghanaian comedian Michael Blackson is facing a serious financial setback after losing $1 million from his Eurobond investment.
Michael Blackson
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Blackson's school, which opened in Agona Nsabaa in 2023, was first announced in 2020, offering free education to children from kindergarten to Basic 3.
Michael Blackson
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To help fund the school's operations, Blackson invested $1 million in Eurobonds, hoping the returns would secure the institution's future.
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However, after losing the entire investment, he expressed concerns about how to keep the school running.
In a series of posts, Blackson explained that the loss could affect the school's lifespan, and he might have to rely on charity to keep its doors open.
‘The Michael Blackson Academy’
‘The Michael Blackson Academy’
Pulse Ghana
According to him, the Eurobonds were intended to sustain the school over its lifetime. However, he lamented: "Ghana decided to use our money to pay their debt to China or whoever and leave us hanging."
Michael Blackson publicly calls out the Finance Minister.
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Unhappy with the situation, he publicly called out the Finance Minister.
"Who’s the minister of finance in Ghana? I have beef with this guy. People of the diaspora decided to invest in our continent, and they used our money to pay their debt, giving us two options. Either take a 37% cut and receive 5% interest with an 11-year maturity date or no cut but 1.9% interest with a 15-year maturity date. I’m very disappointed in my people for this," he posted.
The Michael Blackson Academy, founded three years ago, provides free education to children from kindergarten to Basic 3, as well as free uniforms.
Despite the seriousness of the issue, the comedian found a way to inject humour.
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He joked that, due to the financial hit, he would now have to feed the school's children Nigerian jollof rice instead of Ghanaian jollof.
"Now that Ghana has taken the money I invested in my school I’ll have to feed the kids Naija jollof."
The joke plays on the light-hearted rivalry between Ghana and Nigeria over which country has the better jollof rice.
