SEC Releases List of 23 Unlicensed Investment Platforms Operating in Ghana

• Ghana's Securities and Exchange Commission published a public notice naming 23 entities operating without regulatory approval
• The listed platforms include Afri Hub, Mazzuma, Yepbit Trading, Ultima Cryptocurrency Group and more than a dozen others
• The SEC confirmed it is working with law enforcement to investigate the individuals behind the unlicensed operations

Ghana's Securities and Exchange Commission (SEC) has identified 23 entities it says are illegally offering investment products to the public without the required regulatory authorisation.

In a public notice, the SEC warned Ghanaians to avoid committing funds to any of the named platforms, stating that none of them hold a valid licence to operate within the country's capital market.

unlicensed platforms named by SEC

Among the entities flagged by the Commission are Afri Hub, BG Wealth, BP Investment, Creative Walker Promotion Company (CWPC), Ghana Vest, Harvest Fund, Mazzuma, Medisyne Trade, Profit Rise Invest, Smart Gain, Yepbit Trading, ZEC ZEC FX and Ultima Cryptocurrency Group, alongside several others.

Read also

Aerial view of Cheddar's No. 1 Oxford Street Hotel emerges after High Court orders police-assisted seizure

In a report by Graphic Online, the SEC stated that these platforms are promoting and soliciting investment products in contravention of the Securities Industry Act, 2016 (Act 929), as amended, which requires all entities offering such services in Ghana to be duly licensed by the Commission.

"The General Public is consequently warning the General Public to be vigilant and to desist from investing in these unlicensed products," the SEC stated in its notice.

SEC urges verification before investing

The regulator confirmed it is collaborating with law enforcement agencies to investigate the individuals responsible for running the unlicensed operations, with a view to shutting them down.

It also issued practical guidance to investors, advising them to contact the SEC directly through its official channels to verify whether any investment platform holds a valid licence before making financial commitments.

The warning comes amid growing concerns over the proliferation of informal and unregulated investment schemes targeting Ghanaian households, many of which promise high returns and operate through digital and social media channels.

Read also

Lord Ibrahim Sani: Renowned Ghanaian businessman declares presidential bid for 2028 elections

The SEC's intervention signals a renewed effort to protect retail investors and enforce compliance across Ghana's capital market.

Gold Coast Fund customers demand payout

Meanwhile, YEN.com.gh had earlier reported that customers of the defunct Gold Coast Fund Management had demanded full compensation ahead of Ghana’s 2026 Mid-Year Budget Review.

The coalition had urged President John Mahama to fulfil his 2024 campaign promise to reimburse affected investors within his first year in office.

The group had said retirees, widows, and small business owners had been pushed into poverty, with some victims dying before recovering their locked-up funds.

Source: YEN.com.gh