The Securities and Exchange Commission (SEC) has issued a formal warning to the public regarding an unlicensed investment scheme promoted online by Mekanism Marketing Ltd, also known as “Mekanism.” In a notice dated February 16, the Commission stated “unequivocally that Mekanism Marketing Ltd is neither licensed, authorised, nor approved to operate within Ghana’s capital market,” asserting that any investment activity involving the entity is illegal under Ghanaian law.
The regulator found that the scheme solicits funds via social media and online platforms, enticing prospective investors with promises of fixed daily returns tied to vague tasks labeled “Job 1” through “Job 10.” The Commission described these advertised returns as “unrealistic and unsustainable,” noting that the operation’s structure bears the hallmarks of a fraudulent scheme intended to lure unsuspecting individuals.
The SEC emphasized that operating such a scheme without a valid license contravenes the Securities Industry Act, 2016 (Act 929) and the Companies Act, 2019 (Act 992). It further warned that those behind these unauthorized operations are liable to both administrative and criminal sanctions, disclosing that it is “collaborating with law enforcement agencies to take appropriate action against those responsible for the scheme.” Members of the public are urged to verify the licensing status of any entity through the SEC’s official website or toll-free line before committing funds.
