‘Ghana has robbed me of my $1 million investment, set me back financially’ — Michael Blackson cries

Renowned Ghanaian comedian and actor based in the United States Michael Blackson has expressed frustration with Ghana's debt restructuring.

The entertainer says it has set him back financially and cost him a major investment in the country.

In a series of social media posts on Tuesday, September 17, Blackson revealed he had invested $1 million in bonds to use returns to fund a free school he had built.

However, he noted that Ghana's debt haircut has left him and other bondholders receiving less returns.

"Ghana is a great peaceful fun place to visit just be carful when it comes to any business move," Blackson wrote. "Ghana has set me back financially and I'll never forgive them for this.”

Blackson said this will leave him receiving just 1.95% interest over 15 years on his investment, compared to the original 10% over a shorter period.

"I had no plans on opening up a nonprofit because I hate asking for anything but Ghana took the $1m I invested to use to pay for the life of the school," added Blackson.

Ghana submitted debt restructuring scenarios to bondholders in October 2023 which led to a haircut of 30% to 40% on principal, a coupon of not more than 5%, and a final maturity of not more than 20 years.

Check his full tweets below: