By BUUMBA CHIMBULU THE Securities and Exchange Commission (SEC) has issued a red alert to the public on the illegal operation of an investment scheme called AGR Solar Energy Company Ltd marketing itself on social media such as Facebook and WhatsApp. The AGR Solar scheme encourages recruiting other people for monetary rewards and other benefits. SEC has warned that the scheme’s promoters and/or representatives are not licensed or authorised or registered by the Commission to provide such investment services or to solicit for funds from the Zambian public for investment purposes. The scheme was being marketed on social media platforms such as Facebook and WhatsApp as being involved in renewable energy projects, and has been inviting participants to “rent” or “purchase” photovoltaic (PV) panels, which are allegedly used to generate income through energy-related activities. But SEC acting Chief Executive Officer, Diana Sichone, contended that the Photo voltaic (PV) panels were not authorised products in the […]
‘AGR Solar Energy Company Ltd a scam’
