Don't do business with 'Tizaa Ghana Fund' - SEC warns investors, public

Tizaa Ghana Fund not licensed or regulated by SEC

'Tizaa Ghana Fund' offering 50% return on investments, Report

37,000 clients registered under unlicensed Fund, Report

The Securities and Exchange Commission (SEC) has cautioned investors and the general public against doing business with one 'Tizaa Ghana Fund'.

A statement issued by the Commission said the Fund has not been licensed to perform any activities in the capital market.

It further cautioned that 'Tizaa Ghana Fund' is also not under the regulation of the Securities and Exchange Commission and urged the public to be circumspect and desist from making investments with the firm.

“TIZAA GHANA FUND has not been licensed to carry out any Capital Market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929),” the Commission warned.

Prior to SEC's caution, 'Tizaa Ghana Fund' is said to be offering a guaranteed 50 percent return on investments to clients within 10 ten days.

The Fund, according to reports is said have so far registered 37,000 clients in 3 weeks while operating via popular messaging platform, Telegram.

Meanwhile, 'Tizaa Ghana Fund' is said to be accepting a minimum of GH¢100 to as high as GH¢300,000.

Read SEC's statement below:

Source: ghanaweb.com