Michael Blackson Blames NPP Government for Loss of $1.2 Million Investment .
Ghanaian-American comedian Michael Blackson has blamed the New Patriotic Party (NPP) government, led by former President Nana Addo Dankwa Akufo-Addo, for financial losses he incurred due to Ghana’s debt restructuring program.
Speaking in an interview on Vlad TV, Blackson revealed that he had invested $1.2 million in Ghana’s Eurobond, but the government’s decision to restructure its external debt left his funds trapped.
Initially, Blackson expressed frustration over his financial loss, but he later clarified that Ghana as a country was not the problem. Instead, he placed the blame on the Ministry of Finance under the NPP administration.
“I apologize for blaming my problem on Ghana; Ghana is not the problem. It’s usually the people that are in office that are the problem. So the particular Ministry of Finance from the NPP regime… they are the ones to be blamed for it, not Ghana. Ghana is a great country, with great people. I apologize to my country Ghana for what I said, but I blame it on the NPP, the Ministry of Finance, and the people of that regime,” he stated.
In 2024, the Government of Ghana introduced a Eurobond debt exchange program as part of a broader IMF-backed debt restructuring strategy aimed at stabilizing the country’s struggling economy. The move, however, affected both local and foreign investors, including Michael Blackson.
According to him, the funds he invested were intended to support a free school he had built in Agona Nsabaa to provide education for underprivileged children.
He narrated how he initially reached out to some government officials to retrieve his investment, but was told to pay a 10% fee to a middleman before accessing his money. He refused, believing that he could resolve the issue through direct engagement with higher authorities.
Blackson later approached a cousin of the then-President, who assured him that his investment would be safe. However, he ultimately lost a significant portion of his funds due to the debt exchange program.
“I regret not agreeing to the terms of the middleman because, in the end, I still lost part of my investment,” he lamented.
Michael Blackson’s revelations have sparked debates about Ghana’s financial policies, particularly the impact of the Eurobond debt restructuring on investors. His story highlights the challenges many investors faced during the period and raises concerns about transparency in government financial dealings.
As the Ghanaian economy continues its recovery, many affected investors are hoping for better financial reforms to prevent similar losses in the future. Meanwhile, Blackson remains committed to his philanthropic work in Ghana, despite his financial setback.