BTA Admin The securities regulator says the platforms are not licensed to operate in Ghana’s capital market and urges the public to verify investment providers before committing funds.
Ghana’s Securities and Exchange Commission (SEC) has warned the public against investing through 23 unlicensed investment platforms, as regulators intensify efforts to combat fraudulent online investment schemes targeting unsuspecting investors.
In a public notice issued on July 22, 2026, the SEC said none of the listed entities has been licensed to conduct capital market activities under the Securities Industry Act, 2016 (Act 929), as amended, making their investment offerings unauthorized in Ghana.
The warning comes amid growing concerns over the proliferation of online investment platforms promising unusually high returns through social media and digital channels.
Twenty-three platforms flagged
The SEC identified the following entities as operating without regulatory approval:
- 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
- Ultima Cryptocurrency Group
According to the Commission, these entities have been promoting investment products and services online without obtaining the required regulatory licences.
Law enforcement crackdown underway
The SEC said it is working with law enforcement agencies to investigate the operators behind the schemes and take appropriate enforcement action.
The regulator urged the public to exercise caution and avoid investing in any company or platform that has not received approval to operate within Ghana’s capital market.
The latest warning follows a series of complaints involving online investment schemes that promise exceptionally high returns but often operate outside Ghana’s regulatory framework.
Investors urged to verify licences
The Commission advised prospective investors to confirm the licensing status of any investment provider before committing funds.
Members of the public can verify whether an investment company is licensed by contacting the SEC through its official customer service channels before making any investment decisions.
The regulator said verification remains one of the most effective ways to protect investors from fraudulent schemes.
Rising concern over online investment fraud
The warning reflects increasing regulatory scrutiny of digital investment platforms as more Ghanaians turn to online channels for investment opportunities.
Financial regulators have repeatedly cautioned that promises of guaranteed returns, unusually high profits or low-risk investments should be treated with skepticism, particularly when offered by entities operating without regulatory approval.
The SEC reiterated that investing through licensed institutions provides greater legal protection and strengthens confidence in Ghana’s capital markets.
The Securities and Exchange Commission has warned the public against 23 unlicensed investment platforms operating in Ghana and says it is working with law enforcement agencies to clamp down on their operators.
The regulator is urging investors to verify the licensing status of any investment company before committing funds as part of broader efforts to protect the public from fraudulent investment schemes and strengthen confidence in Ghana’s financial markets.
