Johannesburg – The Financial Sector Conduct Authority (FSCA) has warned the public to exercise caution when engaging in financial services transactions with individuals claiming to be associated with TSB Securities (Pty) Ltd (FSP number 18047) and Thebe Investment Corporation (Pty) Ltd (Thebe Investment).
In a statement on Thursday, 19 November 2025, the FSCA said it has come to its attention that: “Mr. Sphesihle Cele (Mr. Cele), also operating under the alias ‘Nhlakanipho Zungu’, is using the FSP number of TSB Securities and the name of Thebe Investment to promote long-term investment products”.
The statement further stated: “This FSP number appears in communications with members of the public, from whom investments are being solicited.
“Both TSB Securities and Thebe Investment have confirmed that they are not associated with Mr. Cele.”
“While the FSCA does not comment on the specifics of Mr. Cele’s business activities, it is important to note that he is not authorised by the FSCA to provide financial services to the public.
“Mr. Cele has also failed to respond to FSCA enquiries.”
To confirm whether a person or institution is authorised, contact the FSCA on the toll-free number 0800 110 443 or visit https://www.fsca.co.za/Fais/Search_FSP.htm
Suspicious activities can be reported via the Ethics and Fraud Hotline at 0800 313 626, by email at fsca@behonest.co.za, or online at www.behonest.co.za.
