SEC Warns Public Against Unlicensed Investment Scheme ‘Mekanism’

The Securities and Exchange Commission (SEC), Ghana, has issued a public notice cautioning the general public against an unlicensed investment scheme operated by Mekanism Marketing Ltd, also known as “Mekanism.”

In a statement released on the 16th of February, 2025, the commission stated clearly that Mekanism Marketing Ltd is not licensed, authorized, or approved to operate in Ghana’s capital market hence any investment activity promoted by the entity constitutes an unauthorized and illegal capital market operation.

”The SEC states unequivocally that Mekanism Marketing Ltd is NOT licensed, authorized, or approved to operate in Ghana’s capital market. Accordingly, any investment activity promoted by this entity constitutes an unauthorized and illegal capital market activity.”

According to the SEC, the scheme allegedly uses social media and online platforms to solicit funds from the public, promising fixed daily returns described as “unrealistic” and “unsustainable.” Participants are reportedly required to perform unspecified tasks labeled “Job 1” to “Job 10” in order to earn income.

The regulator further warned that operating without a valid license is a criminal offense under the Securities Industry Act, 2016 (Act 929) and the Companies Act, 2019 (Act 992).

The commission then advised the public to exercise extreme caution and desist from investing in any product or scheme promoted by Mekanism. It added that it is collaborating with law enforcement agencies to identify and take appropriate action against individuals behind the operation.