WATCH: Association warns of WhatsApp stokvel

WATCH: Association warns of WhatsApp stokvel #eNCA

10.10.2019

WATCH: Association warns of WhatsApp stokvel eNCA

WhatsApp messages doing the rounds are encouraging people to invest in a stokvel for R200 and get R1,000 back.

Nasasa chairperson Andrew Lukhele said trust is important to forming stokvels.

“So all these characteristics that I have highlighted are absent in the WhatsApp stokvel. So the people who contributed, the depositors are faceless. The people recruiting the people are also faceless, so how sustainable can this be?”

Read more: eNCA

Banks are losing out on business. No one is going to them for loans and money is now rotating amongst us as black people. Fair enough criminals have also jumped onto this bandwagon. But be fair in your reporting guys you need to differentiate between the two. Banks are losing out on business. No one is going to them for loans and money is now rotating against us as black people. Fair enough criminals have also jumped onto this bandwagon. But be fair in your reporting guys you need to differentiate between the two.

I have personally benefitted from Whatsapp Stokvel & so have my recruits. This media uproar of trying to discredit this amazing initiative that is uplifting communities is being propagated and sponsored by the banks. This by far, is the most absurd concept I've ever heard of. Le rata tshelete thata😲 WhatsApp Stokvel New Stokvel 👏Enter with a Chicken 😎you'll leave with a Cow😭 The link is down below

It's because they don't understand how it operates, which is really not rocket science. So they must just take a chill pill and leave us to make money the best way we can. And before some nincompoop comes here and shouts SCAM. It is NOT!!! This scam is initiated by school kids, who come up with a plan to make quick cash.They just start it by acting as if they pay each other to attract more ppl.They make sure they accumulate more cash for themselves,then when they get more ppl they break the list into small groups.

What damn association.... whatsapp association or fraudsters association

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