For Immediate Release: GHANA INVESTMENT PROMOTION CENTRE (GIPC) INVESTIGATES CHY CENTURY HENG YENG GROUP LIMITED

The Ghana Investment Promotion has launched an investigation into the claims of the Securities and Exchange Commission (SEC) regarding their report that CHY CENTURY HENG YENG GHANA LIMITED has not been licensed to operate in Ghana.

A press statement released by the Ghana Investment Promotion is assuring the Public to do a needful work and also assist other relevant state agencies in their ongoing investigations.

Read the full statement below;

The Ghana Investment Promotion Centre has taken notice of a public interest warning dated 8th January by the Securities and Exchange Commission (SEC) informing general public that CHY CENTURY HENG YENG GROUP LIMITED/ SAIRUI E-COMMERCE GHANA LIMITED has not been licensed to carry out any Capital Market activity.

For the avoidance of doubt, it must be noted that the GIPC Act 2013 (Act 865) under section 24(1) mandate the GIPC to register all enterprise with foreign participation in Ghana.

Additionally, SAIRUI E-COMMERCE GHANA LIMITED which was also mentioned in the publication is not registered with GIPC and as such the Centre has no record of any activity by this particular enterprise.

However, section 1(2) of Act 865, in relation to the registration of enterprises does not restrict compliance with the requirements of any other enactment.

Consequently, allegations that CHY CENTURY HENG YENG GROUP LIMITED is engaged in various activities including Capital Market activities which are outside its registered objects at the GIPC, amounts to an offence under section 40 of the GIPC Act 2013 (Act 865).

For the safety of the public, the GIPC as a responsible State Agency has therefore commenced investigations into the said allegations and will assist other relevant state agencies in their ongoing investigations and inform the general public on its findings and next course of action.

In the intervening period, we encourage the general public to be vigilant and stay clear of any unlicensed investment scheme.

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Source: Opemsuo.com / Sasu Danquah.