Over the past few months, there has been an increasing number of pyramid schemes mushrooming all over the country. All promise amazing returns with zero risk, they lure hard working kenyans ( a large number of civil servants) into the setup and after some time they close shop. The closure is usually preceded with notices on office doors and newspaper ads that tell long tales about restructuring the company to better server the clientele. I'm no business or investment guru, but the little I know tells me when the deal is to good it probably is. The lastest pyramid scheme was being run by a reputable ICT company that just a few months ago was running a web development competition that I mentioned here.
The story is similar to many others and has a familiar ending, loss of money by the millions and endless suffering for my hardworking brothers. With all these pyramid schemes, I won't be surprised if Kenya becomes famous for more than the wildebeast migration at the mara, even the ancient pharaohs would be embarassed to learn that their magnificent buildings were being associated with fraud.
To learn more about this author, visit John Wesonga's Website.
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John Wesonga
(Visit John's Website)
Born in Nairobi, Kenya, John Wesonga is a
partner and the Technology Director of Mul
tiple Choices, a communications
company that builds web 2.0 applications
for the Internet and provides strategic
advice on Online Brands. His interests
include: web development, blogging, mobile
technology, Africa, and Kenya. His blog,
Afropreneur, is one of the most
popular online resources for news
regarding business and technology in
Africa. He is also currently a student at
Strathmore University, where he is
pursuing a degree in Business Information
Technology.
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