The Minister of Finance, Louis Paul Motaze has placed a ban on seventeen enterprises involved in illicit public offering in Cameroon.
In a release issued last Thursday October 29, Minister Louis Paul Motaze asks the promoters of the said enterprises to immediately seize from selling equity shares to the public and reimburse the unauthorized savings taken from national and foreign business stakeholders.
These enterprises identified by Finance Minister include;
Mekit Invest whose promoters are actively wanted by the police,
High Life International Cameroon,
Academie des investisseurs Africain,
Global Investment Trading,
GTX Invest/ Global Trust Exchange,
Divine’s Auto Electronic,
Fortune Investment and Wealth.
Apart from refunding the saving, the promoters have been asked to present a report on the effectiveness of the reimbursement process to the Minister.
The companies have been collecting significant capital from economic operators through different communication platforms promising unrealistic gains in a bit to attract potential investors.
The release from the Ministry says the underlined intentions of such illicit fund raising is crypto asset trading which has to do with the electronic existence of cash which can’t be controlled by the Government in case anything goes wrong.