Business News of Friday, 24 January 2020Source: www.ghanaweb.comFLASHBACK: Any investment scheme promising over 20% return is exhibiting fraudulent traits – SECSECA year ago, the Securities and Exchange Commission (SEC) responsible for regulating the Ghana’s securities threw caution to the wind on investments that promised outrageous returns. “Any investment scheme which promises twenty percent interest when the inflation rate is nine percent is unsustainable,” the Deputy Director of the SEC noted. Deputy Director of SEC, Paul Ababio noted with any investment scheme which promises twenty percent interest when the inflation rate is nine percent is unsustainable. Workers contribute a portion of their salaries into a provident fund and employers must contribute on behalf of their employees. Provident fund specifics vary widely by country, but their general purpose is to provide financial support for those who meet the plan’s defined retirement age.

Source: GhanaWeb January 24, 2020 13:41 UTC