SEC warns public against 23 unlicensed online investment platforms
According to the SEC, the platforms have not been licensed under the Securities Industry Act, 2016, Act 929, as amended.
The Securities and Exchange Commission has warned the public not to invest through 23 entities it says are operating without licences in Ghana.
The entities are said to be offering investment products online and through social media despite not being authorised to operate in the country’s capital market.
According to the SEC, the platforms have not been licensed under the Securities Industry Act, 2016, Act 929, as amended.
The Commission said the entities are actively marketing investment opportunities to the public through digital channels, but are doing so outside Ghana’s regulatory framework.
The named entities are Afri Hub, BG Wealth, BP Investment, Creative Walker Promotion Company, Dallmayr, Expert Option, GAIP Securities Learning & Exchange Group, Ghana Vest, Harvest Fund, Infarms/Secure Farm, Kukafor Platform, Mazzuma, Medisyne Trade, NIO Platform, Profit Rise Invest and Quant Vest Stock Exchange.
Others are QVES, QX Broker/Qumatix, Smart Gain, Yepbit Trading, ZEC ZEC FX, Bonchat and Ultima Cryptocurrency Group.
“The SEC has NOT licensed any of the above-mentioned entities to carry out capital market activities,” the Commission stressed.
The regulator said it is working with law enforcement agencies to identify the people behind the operations and take steps to shut down the schemes.
It also cautioned the investing public to avoid the listed entities and any products or services they are promoting.
The SEC urged prospective investors to verify the licensing status of any company or individual offering investment products before committing money.
The warning forms part of efforts by the Commission to protect investors from fraudulent schemes and preserve confidence in Ghana’s capital market.
The regulator has also encouraged the public to report suspicious investment platforms for further action.
