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WhatsApp Gifting identified as a scam by the National Stokvels Association of South Africa (NSASA)

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During the Covid-19 pandemic, South Africans are finding themselves in challenging times.

Financial challenges unfortunately create a space for investment schemes which promise unreliable returns to desperate people. Pyramid or Ponzi schemes seem to be one of the "too good to be true" investements avenues which emerge during tough economic times.

WhatsApp Stokvels first appeared during the later part of 2019 as a new investment option for people who are looking for abnormal returns within a short space of time, as compared to normal benchmarks in the open market.

The National Stokvel Association of South Africa (NSASA) identified WhatsApp Stokvels as a scam. During this Covid-19 pandemic WhatsApp Stokvels have returned under a new name "WhatsAppGifting".

VoW FM host Harvy T, chats to Kevin Ssemwogerere,a Chartered Accountant and Tech Business Development Enthusiast about Pyramid or Ponzi schemes, WhatsApp Stokvels and WhatsApp Gifting.
21 Jul 2020 English South Africa Technology · Music

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