Investment Scams in Mozambique
Fraudulent investment schemes in Mozambique promise outsized returns from forex, mining, or natural-gas ventures and target savers with limited access to regulated financial products.
Part of: Investment Scams
Last reviewed: 1 June 2026
Mozambique's significant natural resource wealth — including natural gas discoveries and coal reserves — makes 'investment in local resources' a credible-sounding pitch for fraudsters. Scammers exploit public excitement around Mozambique's economic potential to sell fake investment opportunities promising extraordinary returns within short timeframes.
With limited access to regulated investment products and relatively low financial literacy in some areas, many Mozambicans have lost significant savings to Ponzi-style schemes that collapse once recruitment slows down.
How this scam works on Mozambique
Investment scams in Mozambique frequently take the form of informal investment clubs or 'stokvels' (known locally as xitique) that are structured as Ponzi schemes rather than genuine mutual savings. Early participants receive returns paid from new members' contributions, encouraging them to recruit friends and family before the scheme collapses.
Forex trading scams are also prevalent: promoters claim to trade currency or commodities on behalf of clients, showing fabricated account statements that display growing balances. Withdrawals are initially possible in small amounts to build trust; then withdrawals are blocked when the scammer is ready to exit.
Natural-gas-linked investment fraud has emerged alongside Mozambique's LNG development, with fraudsters selling fake stakes in 'associated projects' to individuals who have no way to verify the claim.
Common red flags
- Promised monthly returns of 20% or more — far above any legitimate investment product
- Pressure to recruit others to earn your own returns
- Inability to withdraw funds without paying an additional 'release fee'
- No registration with the Banco de Moçambique or any regulated authority
- Investment details are vague or described only in generic terms like 'international forex trading'
- Promoter is well-known in the community — familiarity is used to lower defences
How to protect yourself
- Check that any investment firm is licensed by the Banco de Moçambique before committing funds
- Be sceptical of schemes where returns depend on recruiting new investors
- Start with the smallest possible amount and test withdrawals before investing more
- Seek independent financial advice from a registered adviser
- Report suspiciously high-return schemes before investing — not just after losing money
How to report it
- Report to the Banco de Moçambique's supervisory division, which oversees financial intermediaries
- File a complaint with the PRM's financial crimes unit
- Warn community members through trusted local leaders and community radio
Frequently asked questions
Are xitique (informal savings clubs) in Mozambique dangerous?
Traditional xitique are legitimate community savings tools. Danger arises when a scheme promises returns beyond the pooled contributions — that structure is a Ponzi scheme, not a genuine savings club.