What D-Black said about Michael Blackson's locked-up investment

Ghanaian rapper and entrepreneur D-Black has weighed in on US-based Ghanaian comedian and actor Michael Blackson's recent social media rants about his lost investments in the country.

It could be recalled that Michael Blackson, in a series of fiery posts on X in September 2024, expressed his frustration with the Ghanaian government over the mishandling of his investments.

He had invested in Eurobonds to fund his school, the Michael Blackson Academy, in Agona Nsaba.

However, he claims the government used these funds to pay off debts to China and other creditors, leaving him and other investors in a difficult position and unable to access their funds.

Commenting on the issue in an exclusive interview with GhanaWeb’s Elsie Lamar on Talkertainment, D-Black described how foreign investors already incurred financial losses due to the depreciation of the Ghanaian cedi before the ‘haircuts’ even came into effect.

D-Black explained that if an investor brought $50,000 to Ghana last year, the exchange rate would have converted it to 550,000 Ghanaian cedis. With a promised 30% annual interest, the investor would have earned 200,000 cedis in interest, totalling 750,000 cedis by the end of the year. However, due to the cedi's depreciation, converting this amount back to dollars would result in a loss, yielding only $46,000.

With these happenings, D-Black questioned how foreign investments would survive under such conditions.

“So why will foreign people come and invest in Ghana at this point with foreign currency? I mean, there's no foreign investments. Michael Blackson came with dollars. First of all, he made a loss because look at where the dollar has gone. And then now they are saying you have to wait for 15 years. How is that right?” he questioned.

Lamenting on Michael Blackson’s situation, D-Black described it as ‘not fine.’

“You have to pay teachers, you have to pay maintenance, you have to pay feeding. You have to pay a lot of stuff. So you decided, 'Oh, I'll take the money from here and invest it in the school,' but now he doesn't have access to that money anymore. It's not fine.

"And this is not political talk. This is just. This is just being real about the situation,” he said.

ID/BB

See the full interview below:

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