The Bono Regional Minister, Joseph Addae Akwaboa, has called for intensified investor education and financial literacy to protect residents from fraudulent investment schemes and promote sustainable economic growth in the region.
He said equipping people with the knowledge to make informed investment decisions was essential to building financial security, supporting businesses and creating jobs.
He said this at the Bono Regional edition of the Securities and Exchange Commission’s (SEC) “Time with the SEC” Investor Education Programme at the Sunyani Technical University (STU) Auditorium on Thursday, October 15, 2026.
Mr Akwaboa stressed the need for the public to understand investment products and their associated risks before committing their money.
“Do not invest because somebody promises you quick and extraordinary returns. Invest because you understand the product, the risks, the institution involved and the expected returns,” he advised.
The Regional Minister expressed concern about the vulnerability of unsuspecting investors to fraudulent schemes, particularly those promoted through social media and other digital platforms, urging residents, especially the youth, to exercise caution when engaging with investment offers.
According to him, attractive graphics, testimonials and promises of guaranteed profits should not replace proper checks to establish the legitimacy of investment operators.
Mr Akwaboa encouraged prospective investors to verify whether companies and investment schemes were authorised to operate, understand their terms and conditions, and avoid decisions influenced by peer pressure or persuasive advertisements.
He also called for stronger collaboration among government institutions, financial institutions, traditional and religious leaders, the media and civil society organisations to deepen public awareness of investor protection.
The Minister said financial literacy must become an integral part of the Bono Region’s development agenda, particularly as the region seeks to promote entrepreneurship, job creation and improved livelihoods.
He noted that young people, farmers, workers, entrepreneurs and small-business owners needed the knowledge to save, invest and protect their financial resources effectively.
Mr Akwaboa further highlighted the potential of the capital market to mobilise savings for productive activities, including agriculture, agro-processing, tourism, manufacturing and other businesses.
He explained that directing savings into legitimate economic ventures could help businesses expand, stimulate innovation, support infrastructure development and generate employment opportunities.
He also encouraged businesses in the region to strengthen their corporate governance and financial reporting systems to improve their readiness to access appropriate sources of capital.
Mr Akwaboa urged the SEC to extend investor education programmes beyond regional capitals to districts and communities, so more people could understand the financial system and identify fraudulent schemes.
The Vice-Chancellor of STU, Prof. Kwadwo Adinkrah-Appiah, recounted losing money in a collapsed investment scheme, warning Ghanaians to be cautious about where they invest their funds.
He said the Bono Region had suffered significant losses from companies operating improperly in the securities and investment sector.
Prof. Adinkrah-Appiah disclosed that he was persuaded to invest after two years of repeated appeals, believing he was missing out on an opportunity.
“I did a little. And when I did it, three months down the line, everything was over. This was quite unfortunate, even for me as a professor,” he said.
He also recounted how a foreman lost money intended for a painting project after investing it in a scheme that collapsed weeks later.
He urged participants to take advantage of the training and exercise caution before committing money to investment opportunities.