Ghanaian-American comedian and actor, Michael Blackson has revealed that he turned down an alleged request for a 10% bribe in exchange for recovering his $1.2 million investment trapped in Ghana’s domestic debt exchange program (DDEP).
Michael Blackson detailed how his funds, originally intended to support philanthropic projects, were locked when the government announced its debt restructuring program.
“I had money in Eurobonds because I wanted a stable currency, but when Ghana’s debt crisis hit, they stopped payments. Then someone in the government said he could get my money back, but he needed 10% and I refused.”
Michael Blackson
The comedian, known for building a free school in Ghana, expressed disappointment in how the previous administration handled the situation.
He claimed that instead of honoring their obligations to investors, they redirected funds to settle external debts.
Blackson added that he was given two options: accept an immediate 37% loss with lower interest rates or wait 15 years to get his full investment back but with significantly reduced returns.
The comedian said he chose to fight for his money instead of paying a bribe, believing that as long as the funds remained unpaid, he could continue advocating for their release.
“This money was supposed to fund free education. I’m doing the government’s job by using my money to build schools, and yet this happens.”
Michael Blackson
Despite his grievances, Michael Blackson emphasized that he does not blame Ghana as a nation but holds the previous NPP government responsible for the financial losses suffered by investors.
He also expressed hope that the new administration would handle the situation differently.
“I love Ghana. It’s a great country with great people. My issue is with those in office at that time.”
Michael Blackson
Blackson’s revelations add to the growing concerns among investors who suffered losses under Ghana’s debt restructuring program. Many have called for government intervention to address their grievances.
Michael Blackson Apologizes Over Past Criticisms
The American-Ghanaian actor and comedian expressed regret over his past criticisms of Ghana, clarifying that his frustration stemmed from the handling of his $1.2 million investment in the country’s domestic debt exchange program (DDEP).
Michael Blackson alleged that funds he invested in Ghana’s Eurobond market were misappropriated by the previous New Patriotic Party (NPP) administration to service foreign debts, including those owed to China.
“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, you know we have Democrats and Republicans here, in Ghana the big ones are NPP and NDC.
“This particular time, NPP was in office, so 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.”
Michael Blackson
The comedian, who has invested heavily in philanthropic projects in Ghana, said he initially considered paying an alleged bribe to retrieve his money but ultimately chose to wait.
Frustrated by the ordeal, Blackson took to social media to voice his concerns, a move he believes contributed to the NPP’s defeat in the 2024 elections. “My Twitter rants probably helped NPP to lose the 2024 election,” he said.
Despite his frustrations, Blackson says he still believes in Ghana’s potential and intends to engage the new National Democratic Congress (NDC) administration in hopes of resolving the matter. “I’m going to talk to the new leader and explain why I did this,” he said.
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