What is the Future of MLM scheme in Africa?

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What is the Future of MLM scheme in Africa?

“Every successful entrepreneurs always wants to invest in the right business”-Godday Odidi

  Multi-Level marketing or pyramid selling scheme is another form of business investment in Africa whose foreign operators had succeeded in buying the minds of Nigerians over the years.

Since the operations of these foreign MLM schemes in Nigeria, few Nigerians have become multi-millionaires based on their huge investment drives in the business.

Though, MMM financial fraud and wonder banks activities still in the memories of many Nigerians who felt ponzi schemes are there to hoodwink gullible investors in Africa. It is difficult to believe MLM schemes in Nigeria in spite of their mouth-watering cash bonuses being advertised on major online media platforms in Africa.

Few years ago, GNLD, Tasly World, MMM and other lucrative MLM schemes took over the financial space of the economy where every Nigerian wants to look for the most easiest way to invest their money and gets its return investment. These schemes made huge progresses in Nigeria with evidence of people that joined and became instant millionaires.

Today, some of these MLM schemes are in extinction while other new MLM schemes like H2i, Bitcoin, crypto-currency and others are the rave of the movement involving on skills acquisition training and empowerment programmes for its members across Africa.

I have taken my apple time to attend some of these MLM schemes seminars being introduced by foreign partners in Nigeria. Most of these schemes had never survived in these foreign countries except African countries.

In Nigeria, particularly, none of these MLM schemes had ever survived 5 years to 10 years in the country except H2i that just celebrated 4 straight years in existence. The kind of crowd most of these MLM schemes pulled when they came into Nigeria not the kind of crowd experiencing now except few ones.

 

 One of the major problems of these MLM schemes is that they fail to enlighten Nigerians on the success and failure of these schemes which had made many Nigerians to lose their hard-earning money to some of these fraudulent ponzi schemes in the country.

Nigerians are always hardworking people looking for every available avenue to invest their money through different financial institutions. The arrival of these MLM schemes brought the total exit of traditional financial methods of investing money in Nigeria.

 

Again, some of the operators of these MLM schemes have created huge market structures for income saving investment which only committed members of these schemes only has access to this creative investment.

The era of MLM scheme is gradually fading out of Nigeria system because many of these MLM operators are not reliable when it comes to financial prudence and management. There are also MLM schemes for property and land ownership, it all depends on members’ strength and networking partnership in Africa.

However, Nigerians are always utilizing every business opportunity given to them to survive the harsh economy over the years. No matter several government policies somersault can’t stop MLM schemes from operating in Africa. The high level of poverty and unemployment rates are major problems militating against its citizenry which had made many over the years to see MLM schemes as the only root to escape poverty in life.

Indeed, these MLM schemes had liberated many families from excruciating poverty and set up great future plan for them. The Like of H2i and host of others must be commended for introducing skills acquisitions and empowerment programmes to members and non-members. Unlike then, MLM schemes were more of marketing herbal drugs on healthy living styles which sometimes too expensive for members to afford. These international herbal drugs producers succeeded in creating market values for clients and members in Africa.

Every MLM scheme has a stage of its operation as a member. Each stage with its winning formular for committed members. It is not as easy as many we see it on every MLM event where members are rewarded with cars and cash gifts. It is time for these MLM schemes to brand its operations now.


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