Ghana's Securities and Exchange Commission (SEC) has issued a notice in line with sections 3 and 208 Securities Industry Act 2016 (Act 929) to revoke the licences of five fund managers.

The regulator has said that it “wishes to bring to the notice of the general public that the licences of the underlisted licensed operators engaged in fund management activities in the capital market (fund managers), have been revoked pursuant to section 122 Securities Industry Act 2016 (Act 929).” They are as follows.

• Georgetown Capital Partners Ltd.
• Equity Capital Ltd.
• Index Analytics Ltd.
• DM Capital Ltd.
• Oxygen Advisory Ltd.

The SEC said that the companies were no longer allowed to carry out any fund management activities.

The commission said that it “wishes to inform the general public that anyone who engages in any transaction with any of these companies or their representatives, in their capacity as fund managers, could be exposing him/herself to avoidable risk.”