The Securities and Exchange Commission (SEC) has widened its crackdown on unlicensed investment platforms, naming 23 entities it says are soliciting public funds without regulatory approval, barely a week after singling out two crypto-linked schemes in a separate warning.
In a public notice dated July 22, 2026, the Commission listed firms, including Afri Hub, BG Wealth, BP Investment, Ghana Vest, Harvest Fund, Kukafor Platform, Mazzuma, Profit Rise Invest, Quant Vest Stock Exchange and Yepbit Trading, among those operating on social media and online platforms while promoting investment products the regulator has not sanctioned.
The list also captures Bonchat, which the SEC had flagged alongside Yepbit Exchange in a notice issued on July 15, and other entities such as QX Broker/Qumatix, Smart Gain, ZEC ZEC FX and Ultima Cryptocurrency Group.
The SEC said none of the 23 entities holds a licence to conduct capital market activities, a requirement set out under Section 3 of the Securities Industry Act, 2016 (Act 929), as amended by the Securities Industry (Amendment) Act, 2021 (Act 1062). The regulator, which describes its mandate as “ensuring investor protection,” said it maintains surveillance of the securities industry and periodically publishes information it considers relevant to safeguarding the public.
The Commission disclosed that it is working with law enforcement agencies to trace and act against the individuals behind the entities and their schemes. It urged the public to exercise vigilance and to avoid channelling funds into the unlicensed products, directing prospective investors to verify an entity’s licensing status through its toll-free line, main office number, or by email before committing capital.
Wednesday’s notice was issued under Sections 3 and 208(c) of Act 929, the same provisions cited in the Commission’s July 15 warning against Yepbit Exchange and Bonchat, which it had described then as a suspected fraudulent scheme soliciting investments through digital and crypto-asset channels. That earlier notice followed reporting that Yepbit had already drawn regulatory action in the Philippines, where authorities shut down a related platform months prior.
The latest list marks the SEC’s second public notice this month and adds to a pattern of periodic warnings the Commission has issued over the past year, including a February 2026 alert against Mekanism Marketing Ltd, which had promised fixed daily returns tied to vaguely defined online tasks.
