Bank of Ghana warns public against unlicensed investment platform

Key Takeaways

• Bank of Ghana declared a recent investment platform unlicensed.
• The platform’s solicitation qualifies as illegal deposit‑taking under Act 930.
• Regulators warned investors of potential total loss of funds.
• Public urged to report suspicious activities to the Financial Stability Department.

The Bank of Ghana issued a formal notice on September 1, 2026, signed by Secretary Aimee Vyda Quashie, stating that a publicly promoted investment platform operates without the required deposit‑taking licence.

The notice characterises the platform’s invitation to the public as a breach of the Banks and Specialised Deposit‑Taking Institutions Act, 2016 (Act 930), and alerts citizens to the financial danger posed by the scheme.

Regulatory Framework

Act 930 defines deposit‑taking institutions and mandates a licensing process to safeguard depositor interests. By operating outside this framework, the platform circumvents supervisory oversight, exposing participants to unmitigated risk.

The Bank of Ghana’s Financial Stability Department monitors compliance and has the authority to issue enforcement directives, including cease‑and‑desist orders, when entities breach statutory requirements.

Risks to Investors

Investors who allocate capital to the unlicensed platform face the possibility of total loss, as the entity lacks the capital buffers and consumer‑protection mechanisms imposed on licensed banks.

Without a regulated audit trail, recovery of funds becomes unlikely, reinforcing the regulator’s warning that the public’s money is at stake.

Broader Financial Stability Concerns

Unlicensed deposit‑taking activities can erode confidence in the formal banking sector, prompting capital flight and destabilising liquidity flows. The Bank of Ghana monitors such threats to maintain systemic resilience.

By publicising the violation, the regulator aims to deter similar schemes and reinforce the integrity of Ghana’s financial ecosystem.

Looking Ahead

The Bank of Ghana encourages any individual with information on illicit deposit‑taking to contact its Financial Stability Department at The Bank Square, 42 Castle Road, Ridge, Accra. Ongoing surveillance and swift enforcement are expected to curtail further unauthorized offerings.

Continued public education on licensing requirements is likely to feature in the regulator’s outreach agenda, aiming to protect savers and preserve market confidence.