The Ghana Securities and Exchange Commission (SEC) has ordered all operators of online investment and trading platforms to register and obtain licenses by Aug. 31, 2026, as the regulator moves to tighten oversight of the country’s fast-growing digital investment market.
The directive, issued on June 23, applies to market operators, fintech firms and individuals providing online investment services or facilitating access to securities trading in local and foreign markets.
The SEC said the move follows a rise in unregistered digital investment applications and trading platforms, which it said pose risks to investors and the integrity of the financial market.
“The SEC has observed a growing trend of unregistered online investment applications and trading platforms facilitating access to trading in securities listed in local and foreign markets,” the regulator said in the directive.
Under the new rules, any licensed market operator running an investor-facing digital investment platform must obtain separate approval and licensing for each platform from the SEC. Fintech companies and digital intermediaries offering SEC-regulated services will also be required to secure the appropriate registration and licensing approvals.
The directive takes immediate effect. The regulator warned that any person or entity operating an unlicensed online investment or trading platform “must immediately desist” from doing so, signaling a tougher enforcement stance against unauthorized operators.
The measures form part of broader efforts by the SEC to strengthen investor protection as digital financial services and app-based investing gain popularity in Ghana. Retail participation in online investment products has increased in recent years, driven by wider smartphone penetration, fintech adoption and growing interest in foreign securities and digital wealth products.
The SEC said its regulatory sandbox framework would be used to evaluate financial technology platforms and mitigate risks associated with fraud and unregulated investment activity.
Platforms covered by the directive will be required to complete a multi-stage licensing process, including submission of an entry application, demonstration of the technology platform, regulatory review and payment of licensing fees before approval certificates are issued.
The directive excludes back-office technology systems, anti-money laundering compliance tools, investor complaint portals and online educational platforms focused solely on investor awareness.
The SEC also urged the public to verify the authenticity of investment products and trading platforms through its official communication channels before investing.
Failure to comply with the directive could result in sanctions under Ghana’s Securities Industry Act, including enforcement actions available to the regulator under Section 209(4) of the law.
