Michael Blackson has lamented he needs help to keep his Agona Nsaba school running because "the money I invested to keep this school going for life has been held hostage without pay by the Finance Minister of Ghana".
He spoke in a series of posts on X.
The Michael Blackson Academy was famously established in 2022.
"Coming back home to give back feels like the worst decision I’ve made," Blackson wrote. "Even at the free school I built, for the electric and water bill, I’m charged as if it’s a commercial building, and they know it’s a charity. There’s zero gain but I’m charged commercial price. Ghana frustrates me so much makes me want to give up."
The comic and TV star admonished: "To whoever that Finance Minister of Ghana is or was, you not just taking from me, you are taking from the children at Michael Blackson Academy in Agona Nsaba in the Central Region".
| X (Pic): Michael Blackson surrounded by pupils of the Michael Blackson Academy "People of the diaspora decided to invest in our continent and they used our money to pay their debt and gave us two options: either take a 37% cut and receive 5% interest with 11 years’ maturity date or no cut but 1.9% interest with 15 years’ maturity date. I’m very disappointed in my people for this," the US-based Ghanaian entertainer said.
"I did the euro bonds because I figured that will help pay for the life span of the free school I built," he explained.
Even though he repeatedly expressed his profound love for his country of birth, Blackson grieved Ghana, though "a great, peaceful, fun place to visit," was terrible "when it comes to any business move". Thus, he advised prospective investors in the West African country to "just be careful".
Ultimately, however, Blackson emphasised his resolve to not abandoning the Michael Blackson Academy project despite the setbacks.
"If it wasn’t for the love and passion I have for the unprivileged youth of Ghana, I would just hand my school to the people and walk away but I can’t. I’ll have to work a little longer than I expected to help those kids out," he said.
To manage its debt and stay solvent, Ghana's government rolled out a Domestic Debt Exchange Programme (DDEP) with new rates and maturities for bonds with a value loss for investors.
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