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Ponzi Scheme Thousands of Ghanaians lose millions to Savana Brokerage

Investigations have shown that Savana Brokerage has no license to receive and invest funds in Ghana.

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Thousands of Ghanaians are counting their loss after they invested in an online financial facility, Savana Brokerage.

It is estimated that funds amounting to over GHC2million was invested across the country by Ghanaians.

The major financial regulators in Ghana; the Bank of Ghana and the Securities and Exchange Commission are yet to comment on the matter.

However, investigations have shown that Savana Brokerage has no license to receive and invest funds in Ghana.

The address of the company on its website indicates that Savana Brokerage is a Kenyan Company pointing to a location in Nairobi.

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Currently, the website is down.


According to the website, the company started operations in Ghana from 2014.

They were operating three packages; Knight Package, Queen Package and Kings Package.

Knight Package was a weekly form of investment – every customer was to invest more than GH 50. You were promised 10% on your money on a weekly basis so you get 40% return on your capital at the end of the month.

Queen package; you get 60% on your investment money after a month.

Kings Package promised 100% return on an investment. The investment was to last for three months.

Interested clients were expected to send the money through an MTN Merchant and the operators of the scheme get access to the funds.

Currently, MTN appears to have blocked all the merchant accounts. But there are huge monies stack in the accounts.

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The customers who have fallen victim to a Ponzi scheme have started gathering for a class action.

They have formed regional and intercity Telegram and WhatsApp groups to push their concern.

One of the affected customers told Accra-based Starr FM that, “the calibre of people who have invested in Savanna belong to the Elite. Some students also used their Student Loans and Fees to invest. I know someone who has invested GHC60,000. He is going mad. This is a very troubling development.”

The customers are hopeful that they might retrieve some of the funds due to the fact that MTN has blocked the merchant accounts which has about GHC2 million.

Meanwhile Banking consultant, Nana Otuo Acheampong has called on the general public to be more vigilant and check for regulatory approval before any investment.

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