The Financial Sector Conduct Authority (FSCA) warns you to act with caution when dealing with Tshwaranang Community Stockvel.
Tshwaranang Community Stockvel is not authorised in terms of the Financial Advisory and Intermediary Services Act (FAIS Act) to render financial advice and intermediary services.
According to the information received, people from this organisation are contacting the public, saying the organisation is a registered financial services provider.
Clients who have invested their funds with Tshwaranang Community Stockvel have been promised 50% interest after 30 working days. However the clients have never received their returns.
It is the FSCA’s view that the entity is conducting unregistered business and providing advisory and intermediary services without the necessary authorisation.