A friend shows you an app on WhatsApp. You deposit GH₵500, and every day your “balance” grows by 3%. You withdraw a small amount and it works, so you put in more, and bring your cousins in for a bonus. Then one day withdrawals are “under maintenance”, the group goes quiet, and the app disappears.
That is how most fake investment platforms in Ghana work. In July 2026 alone, the Securities and Exchange Commission (SEC) published a list of 23 unlicensed online schemes.
The warning signs
- Guaranteed or very high returns, such as 2% a day, 30% a month or “double your money”. Real investments do not guarantee returns.
- Money for recruiting. If you earn mainly by bringing in new members, it is a pyramid or Ponzi scheme. The SEC links recruitment-driven earnings to Ponzi schemes.
- No licence, or a licence that turns out to belong to a different company or country.
- Pressure to act now: “offer closes tonight”, “VIP level ends soon”.
- Payments to personal MoMo numbers instead of a company account.
- Small withdrawals work at first, then a big one gets “delayed”, needs a “tax” or an “unlock fee”.
- It lives only on WhatsApp, Telegram or a mobile app, with no physical office you can visit.
Check the licence before you invest
Under Ghana’s Securities Industry Act, 2016 (Act 929), anyone acting as a broker, fund manager or market operator needs an SEC licence. To check:
- Search the SEC licensees register at licensees.sec.gov.gh.
- Call the SEC toll-free on 0800 100 065, or email info@sec.gov.gh.
- For savings, deposits or loans, check that the company is licensed by the Bank of Ghana.
Schemes SEC Ghana flagged in 2026
In public notice SEC/PN/002/07/2026 (22 July 2026), the SEC listed 23 entities offering unlicensed investment products online: Afri Hub, BG Wealth, BP Investment, Creative Walker Promotion Company (CWPC), Dallmayr, Expert (Expect) Option, GAIP Securities Learning & Exchange Group, Ghana Vest, Harvest Fund, Infarms/Secure Farm, Kukafor Platform, Mazzuma, Medisyne Trade, NIO Platform, Profit Rise Invest, Quant Vest Stock Exchange (QVSE), QVES, QX Broker/Qumatix, Smart Gain, Yepbit Trading, ZEC ZEC FX, Bonchat and Ultima Cryptocurrency Group. Earlier in 2026 it also warned about Mekanism Marketing Ltd.
New names appear all the time, so a platform not being on the list does not make it safe. Check the licence.
If you have already put money in
- Stop adding money, including any “fee” to unlock withdrawals.
- Do not recruit anyone else.
- Gather evidence: screenshots of the app, chats, payment receipts and the numbers you paid.
- Report it to the SEC (sec.gov.gh/complaint), the police and the Cyber Security Authority.
- Contact your bank or MoMo provider straight away in case funds can be held.
If it pays every day and grows faster than anything else, ask where the money really comes from. Usually, it is the next person to join.
This guide was checked in October 2026. Menus and services change, so if something looks different on your phone, check with your provider.
Common questions
How do I check if an investment company is licensed in Ghana?
Check SEC Ghana’s licensees register at licensees.sec.gov.gh, or call the SEC toll-free on 0800 100 065. For banks and savings companies, check with the Bank of Ghana.
Which platforms has SEC Ghana warned about?
In July 2026 the SEC named 23 unlicensed online schemes, including Yepbit Trading, BonChat, BG Wealth, QX Broker/Qumatix and Ultima Cryptocurrency Group. See the SEC’s public notice for the full list.
Can I get my money back from a fake platform?
It is hard once money has moved. Report immediately to the SEC, the police and the Cyber Security Authority, and contact your bank or MoMo provider in case funds can be held.
Are crypto platforms licensed in Ghana?
Be careful. The SEC has flagged unlicensed crypto investment schemes. Check the SEC and Bank of Ghana before putting money into any platform.
