Finance

SEC lists 17 unlicensed entities operating in Ghana

Securities and Exchange Commission

The Securities and Exchange Commission (SEC) has cautioned Ghanaians to be vigilant and desist from investing in unlicensed financial institutions in the country.

It has in a recent release sighted by GhanaWeb noted that 17 companies were operating without a license in recent times.

Among the 17 companies were; Yvonne Hanson Deals, Bitcash Investment, Alpha Pay, Quick Earn, Cedi Network Ghana.

SEC stated that the operations of these unlicensed banks were in contravention of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930).

In recent times, many people especially the youth and businessmen have lost huge sums of money to scammers.

This is because they pumped their monies into unlicensed businesses that are later shut down by the central bank.

Below are the 17 unlicensed companies operating in Ghana

1. PatronPay Ghana/PetronPay Ghana
2. Cedi Network Ghana
3. Bitcash Investment
4. Solmax Group
5. Freedom Synergy
6. FxKash Investment
7. Binomo Investment
8. Hi Pay
9. Quick Earn
10. Lite Earn
11. Snap Finance
12. Faucet Wealth Investment
13. Opay Investment
14. Payme Financial Services
15. Passive Income
16. Yvonne Hanson Deals
17. Alpha Pay

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Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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