Kenya: Regulator warns savers against 15 unlicensed platforms

The list includes Global Investment Group, QVSE, Kore Exchange, Abacus Wealth Management, Brown Advisory Group, B Invest, Bitblock Capital, Maliwave Investments, and Monetrix Capital Investments. It also mentions Twenty-four Hours Pro Expert Trader, Wealth Sharing Group, CBEX, Just Markets, Ultima Cryptocurrency, and Lukman-trust Fund.

The CMA urges the public not to entrust money to these entities and encourages individuals who have already invested or have information to contact the DCI offices. The warning targets platforms that present themselves as investment opportunities while lacking the required approvals in Kenya.

QVSE is among the most prominent platforms in this matter. Business Daily reports that users were lured by promises of profits related to trading U.S. stocks, before some were asked to deposit additional funds to reactivate accounts that had become inaccessible.

This warning comes as financial authorities in the region intensify their alerts against unlicensed investments. In Kenya, the CMA maintains a public list of authorized intermediaries and regularly reminds investors to verify the regulatory status of an operator before entrusting them with funds.

QVSE and Ultima Cryptocurrency Group had already been flagged in Ghana. In an official notice dated July 22, 2026, the Ghanaian Securities and Exchange Commission listed them among 23 entities offering unlicensed investment products in the country.