There’s no denying the wealth of South Africa in aquaculture resources. And with a rising global fish demand, this sector is poised to grow further and even bring wealth to investors.
However, this promising growth has been weaponized by fraudulent companies – exploiting investors’ optimism with their get-rich-quick promises.
One investment company that has been making noises is the RNI Aquaculture Investment. According to the company, an investor can invest in fish and abalone for a guaranteed 30% monthly return.
Does its promise ring a bell? In this TRU Insight, we’ll walk through the RNI Aquaculture operation and the fraud allegations surrounding them. Read on and discover whether RNI Aquaculture Investment is legit and regulated in South Africa.
RNI Aquaculture at a Glance
What Happened?
In 2020, RNI Aquaculture entered the South African financial markets with its promise of 30% guaranteed ROI from aquaculture (fish and abalone) investment. Its thousands of managers and alleged collaboration with several government bodies contributed to the expansion and reach of the investment company.
What Do We Know?
In 2024, around 3,000 investors filed reports against RNI Aquaculture as the company started delaying withdrawals and publishing inconsistent reports. Upon scrutinizing the company, everything about it exudes the characteristics of a typical Ponzi scheme.
What Is RNI Aquaculture Investment?
RNI Aquaculture dubbed itself as a leading investment company that transformed how investors invest their money.
In several of their marketing materials, RNI Aquaculture claimed to expand the company’s success from the United States to South Africa.
Their investment opportunities for South African investors were purported to have support from the SA Government and the Department of Agriculture, Forestry, and Fisheries.
Now, let’s move on to RNI Aquaculture’s actual investment product – fish and abalone.
According to the promoter found on YouTube, investors can enjoy a 30% monthly return on investment by investing in or renting aquaculture products. The company then used the investments to expand and improve aquaculture centers.
In other words, you rent or invest in their fish and abalones, and your investment is used to enhance and continue their aquatic operations. You receive a guaranteed 30% monthly income from it.
Where do you get your profits? RNI Aquaculture was said to distribute 50% of its aquatic sales among the investors. The sales ultimately came from its exports to European and Asian countries.
At first glance, this sounds realistic and even profitable to some.
However, are these claims true? Or are they just there to create the impression of credibility and profitability – the two winning factors to snatch trust of unsuspecting investors?
Related: Pyramid Scam Tiger Agriculture Gets Warning from the FSCA 2025
Is RNI Aquaculture Investment Legit?
Its active marketing, thousands of promoters, and alleged partnership with the South African Government contributed to the wide acceptance and penetration of the public with RNI Aquaculture.
However, does this public penetration constitute the legitimacy of the investment company?
No – the public’s wide acceptance shouldn’t mean anything about the company’s legitimacy.
Many investors noticed the fraud-like characteristics of RNI Aquaculture, leading to a massive report to different South African authorities. The Financial Sector Conduct Authority alone has received over 3,000 claims against the investment company.
The FSCA Warned the Public About RNI Aquaculture Investment
Two years after its emergence in South Africa, RNI Aquaculture has received a public warning from the FSCA, South Africa’s financial regulator.
According to the regulator, RNI Aquaculture solicits investments from the South African public without authorization or necessary license. The FSCA was concerned with unrealistic investment profits marketed on various social media platforms, including Facebook, TikTok, and YouTube.
Related: How Fraud Brokers Use Social Media to Scam Traders 2025 : Is RNI Aquaculture Investment Legit and Regulated in South Africa? [2025 Update]Despite not offering financial securities, the regulator claimed that RNI Aquaculture should carry out the necessary license for the investment product they offer to comply with the Financial Intermediary and Services Act (FAIS Act).
Investors Were Asked to Deposit More Money to Withdraw Their Investment
One publicized dispute against RNI Aquaculture Investment revealed the exploitation of the operator towards the investments.
According to the investor, the agent encouraged them to deposit more money into their account to be able to withdraw their account balance.
In the documented instance, RNI Aquaculture reported that the platform had been hacked, causing investors to lose access to their investment balance. However, the investor can still withdraw their money by depositing ZAR 2222 – which will be added to the actual investment balance.
After a few years of operation, many investors noticed the fraud-like characteristics of RNI Aquaculture Investment.
Around 3,000 RNI Aquaculture investors contacted the authorities to file a claim against the investment company.
Remember, Ponzi Schemes Were Legit Until They Weren’t
The Ponzi scheme’s legitimacy exudes during the operation’s first phase.
Early investors could receive payments from the investment platform – creating an air of legitimacy and profitability.
But where does the operator get the payment? It’s through the investments of the new investors.
However, the scheme starts to slow down when the entry of new investors becomes illiquid. When this happens, the revenue stream follows suit.
This ultimately caused the scheme to collapse.
Does RNI Aquaculture Collapse Now?
Many users reported that the platform became inaccessible in June 2024. This followed the problem of straight-up rejection in withdrawal and the inevitable taking down of its website.
With these in mind, it’s safe to say that the RNI Aquaculture Ponzi scheme has collapsed now.
However, beware of other emerging agriculture or aquaculture investment schemes as they begin penetrating the South African financial market. Always be vigilant about the investment products they offer to ensure you’re putting your money into a legitimate investment.
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