SEC warns against 23 unlicensed online investment firms

The Securities and Exchange Commission (SEC) has cautioned the public against engaging with 23 entities offering investment products online and through social media without the requisite licences to operate in Ghana.

The entities named by the SEC are Afri Hub, BG Wealth, BP Investment, Creative Walker Promotion Company (CWPC), Dallmayr, Expert (Expect) Option, GAIP Securities Learning & Exchange Group, Ghana Vest, Harvest Fund, Infarms/Secure Farm, Kukafor Platform, Mazzuma, Medisyne Trade, NIO Platform, Profit Rise Invest, Quant Vest Stock Exchange (QVSE), QVES, QX Broker/Qumatix, Smart Gain, Yepbit Trading, ZEC ZEC FX, Bonchat and Ultima Cryptocurrency Group.

According to the Commission, the entities have not been authorised to undertake capital market activities under the Securities Industry Act, 2016 (Act 929), as amended, despite actively marketing investment opportunities to the public via digital platforms.