Daniel Ogbamey Tetteh
The Securities and Exchange Commission (SEC) says Tizaa Ghana Fund, a supposed investment company has not been licensed to engage in investing or trading for returns business in the country
According to SEC, activities of the company are not regulated by SEC.
SEC has therefore cautioned the public against doing business with Tizaa Ghana Fund.
Social media posts since last week have been buzzing with activities of Tizaa Ghana Fund, which reportedly promises up to 50% returns on investment in 10 days.
There was claim that the company receives monies between GH¢100 and GH¢300,000 for its activities and has registered tens of thousands of people.
But SEC says the public must be on alert dealing with the company.
“Tizaa Ghana Fund has not been licensed by the Securities and Exchange Commission (SEC) to carry out any Capital Market activities including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929).
“Tizaa Ghana Fund is therefore not regulated by SEC. The General Public is advised to be cautions with investing in unlicensed products. The general and investing public is further advised to consult the SEC through its toll free line 0800100065 or main line number 0302768970-2 to confirm the licensing status of any firm offering products or services relating to investments in the Capital Market,” SEC stated.
By Vincent Kubi