SEC Flags Mekanism as Illegal Investment Scheme

The Securities and Exchange Commission (SEC) has warned the public against an unlicensed investment scheme being promoted online by Mekanism Marketing Ltd, also referred to as Mekanism, emphasizing that the entity is not licensed, authorized or approved to operate in Ghana’s capital market.

In a public notice issued on Monday, February 16, 2026, the regulator described any investment activity linked to Mekanism as unauthorized and illegal, urging the public to exercise extreme caution and desist from investing in any product or scheme promoted by the entity.

According to the SEC, Mekanism has been using social media and other online platforms to solicit funds from the public, requesting deposits for investment purposes and promising fixed daily returns that vary with the amount invested.

Participants are reportedly asked to undertake vague activities labeled Job 1 to Job 10 as a basis for earning daily, monthly or annual income. The Commission said these returns are unrealistic and exhibit features of a fraudulent scheme intended to lure unsuspecting investors.

The regulator underscored the legal risks of participating in such schemes. Under Section 109 of the Securities Industry Act, 2016 (Act 929), a person must not operate as a market operator, broker, dealer, investment adviser, fund manager or engage in other capital market activity without a valid license.

Section 206 of the same Act imposes administrative and criminal sanctions on offenders, while Section 294(1)(b) of the Companies Act, 2019 (Act 992), prohibits public invitations to invest in company securities without meeting statutory requirements.

The SEC noted that it is collaborating with relevant law enforcement agencies to identify and take action against the individuals behind the suspected scheme. The Commission confirmed that it is no longer just monitoring the situation but is now actively working to track down the promoters of Mekanism.

Under Act 929, individuals found guilty of running unlicensed investment schemes face severe administrative fines and potential criminal prosecution. By operating without a valid license, Mekanism exposes its investors to total loss with no legal recourse through the regulator’s protection funds.

The SEC urged the public to verify the licensing status of any individual or entity offering investment products or services before committing funds. Investors can contact the SEC via its toll free line 0800 100065, main lines 0302 768970 to 2, or email at [email protected].

The Commission encouraged those who have interacted with Mekanism to report their experiences to the SEC through the same channels.

This public notice is issued pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as part of the Commission’s mandate to protect investors and maintain oversight of Ghana’s securities market.

The warning comes amid a surge in digital investment frauds in Ghana, with the SEC flagging multiple entities for using social media platforms to promote high yield investment products without regulatory approval.

In July 2025, the SEC issued similar warnings against News GH and Ghana News for promoting unlicensed investment schemes. News GH was advertising a product called the Gold AI Rise Platform, while Ghana News was promoting an unnamed investment scheme promising unrealistic returns with no risk.

The regulator has repeatedly emphasized that investment schemes promising unusually high returns with zero risk are often fraudulent and unsustainable.

The SEC maintains a list of licensed entities authorized to conduct capital market activities in Ghana, which is available on its website. The Commission advises the public to confirm the regulatory status of any investment scheme through official SEC platforms before making financial commitments.

As an essential obligation, the SEC maintains surveillance over activities in the securities industry and publishes at regular intervals information it deems relevant to protect the investing public.

The Commission reaffirmed its commitment to investor protection and stated that it will continue to publish relevant information to educate and safeguard Ghanaians from fraudulent investment schemes.