SEC warns against 23 unlicensed investment firms, urges public to verify operators

The Securities and Exchange Commission (SEC) has cautioned the public against investing in 23 entities operating without licences to offer investment products in Ghana.

In a public notice dated July 22, 2026, the SEC said the entities have been operating on social media and online, promoting and offering unlicensed investment products.

According to the Commission, none of the listed entities has been licensed to undertake capital market activities as required under Section 3 of the Securities Industry Act, 2016 (Act 929), as amended.

The entities named by the SEC are:

1. Afri Hub
2. BG Wealth
3. BP Investment
4. Creative Walker Promotion Company (CWPC)
5. Dallmayr
6. Expert (Expect) Option
7. GAIP Securities Learning & Exchange Group
8. Ghana Vest

9. Harvest Fund
10. Infarms/Secure Farm
11. Kukafor Platform
12. Mazzuma
13. Medisyne Trade
14. NIO Platform
15. Profit Rise Invest
16. Quant Vest Stock Exchange (QVSE) 17. QVES
17. QX Broker/Qumatix
18. Smart Gain
19. Yepbit Trading 21. ZEC ZEC FX
20. Bonchat
21. Ultima Cryptocurrency Group

The SEC said it is collaborating with law enforcement agencies to clamp down on the individuals behind the entities and their investment schemes. It has therefore advised the public to remain vigilant and refrain from investing in products offered by the listed entities.

The Commission also urged prospective investors to verify the licensing status of any entity offering investment products or services in the capital market before committing funds.

The SEC said members of the public can confirm the licensing status of investment firms by contacting the Commission through its toll-free line, 0800 100065, its main lines 0302 768970-2, or by email atinfo@sec.gov.gh.

The notice was issued pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as amended.

Source: classfmonline.com