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

The SEC in a press statement said the company has not been licensed to engage in investing or trading for returns business in the country, hence its activities are not regulated by SEC.

In the past weeks, there have been social media posts that drew attention to the company, Tizaa Ghana Fund. The posts claim that Tizaa Ghana offers 50% profit on any amount deposited with them in only 10 days.

The post claimed that Tizaa Ghana accepts amounts between GH₵100 – GH₵300, 000 and has registered over 37,000 members.

But the SEC said has cautioned that Tizaa Ghana Fund is an unlicensed 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 the SEC.

The General Public is advised to be cautious with investing in unlicensed products. 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,” SEC noted in a statement.