The Securities and Exchange Commission (SEC) has issued a sweeping public alert against 23 unregistered entities currently operating on social media and digital platforms, warning Ghanaians against falling victim to what it describes as high-risk, unlicensed investment schemes.
In an official notice dated July 22, 2026, the SEC made it unequivocally clear that none of the named entities possess the requisite license to conduct capital market activities, a direct violation of Section 3 of the Securities Industry Act, 2016 (Act 929), as amended.
The blacklisted entities span a wide range of sectors, including digital asset trading, cryptocurrency, agricultural investments, and forex trading. The full list includes: AfriHub, 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, QuantVest Stock Exchange (QVSE), QVES, QX Broker/Qumatix, Smart Gain, Yepbit Trading, ZEC ZEC FX, Bonchat, and Ultima Cryptocurrency Group.
The SEC disclosed that it is currently collaborating with national law enforcement agencies to clamp down on the individuals and syndicates behind these schemes. The Commission cautioned that the entities are aggressively using social media influencers and targeted online ads to lure unsuspecting investors, often promising unrealistic returns on investment with little to no risk—a classic hallmark of Ponzi-style fraud.
“The public is advised to desist from investing in these unlicensed products,” the SEC stated emphatically, adding that any funds deposited with these platforms are entirely at the investor’s risk and will offer no legal recourse should the platforms collapse, as is common with such unregulated ventures.
This latest warning comes amid a troubling surge in digital financial fraud in Ghana, where unregulated platforms have increasingly preyed on the financial desperation of citizens. The SEC has previously highlighted the dangers of such schemes, noting that they lack the mandatory investor compensation fund protections provided by licensed institutions. Victims of such fraud typically face total loss of their principal savings, as the operators often disappear after accumulating substantial sums.
By citing Sections 3 and 208(c) of Act 929, the Commission is reaffirming its statutory mandate to protect the investing public and maintain the integrity of Ghana’s capital market. The regulator has urged Ghanaians to verify the licensing status of any entity before parting with their money.
To assist the public in this verification process, the SEC has provided accessible channels. Citizens are encouraged to call the toll-free line at 0800100065, the main line at 0302768970-2, or send an email to info@sec.gov.gh to confirm whether any investment firm is properly registered.
As financial scams grow more sophisticated, the SEC is urging extreme vigilance. “If an investment opportunity sounds too good to be true, it likely is,” the Commission reiterated, reminding the public that investing with unlicensed entities not only risks financial ruin but also exposes individuals to potential criminal liability for aiding unregulated financial activities.
