SEC warns against Tizaa Ghana Fund ‘investment’ activities

The Securities and Exchanges Commission (SEC) has warned the public against transacting business with Tizaa Ghana Fund.

Tizaa Ghana Fund, reportedly promises up to 50% returns on investment in 10 days.

But SEC has explained it does not regulate the company as it has not been licensed to engage in investing or trading for returns business.

“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 the SEC,” the Commission said in a notice.

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Meanwhile, the Commission has urged the public to consult it for confirmation on the licensing status of any firm that engages in businesses related to investment.

“The general and investing public is further advised to consult the SEC through its toll free line 0800100065 or mainline number 0302768970-2 to confirm the licensing status of any firm offering products or services relating to investments in the Capital Market,” it added.