Mavrodi Mondial Moneybox (MMM) announced its presence in Kenya, barely two days after it froze withdrawal operations in MMM Nigeria and got some loyal followers scrambling after their money.
The Nigerian operations of MMM have not completely shut down, but are allegedly on a break that is expected to end on the 14th of January. The top guiders of MMM Nigeria decried the need for the pause mode, so as to ensure the sustained presence of the scheme in the country in the coming year.
According to them;
“The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. (Which we will definitely do. We hope for your understanding.”
Despite the numerous assurances, a lot of Nigerians have had their faith shaken by the pause period and reports of sad stories and recriminations for participating in MMM Nigeria are no longer uncommon, although some die-hard followers stay believing.
While Nigerians are left in a state of limbo, MMM rekindled efforts in Kenya, promising a possible interest of 40%. A statement on MMM’s Kenyan website read;
“Yes, it is possible to earn 40% per month here, but this is not a hyip (High Yield Investment Programme)!
This is a community of ordinary people, selflessly helping each other, a kind of the Global Fund of mutual aid,” read a statement on its Kenyan website.
This is the first sprout of something new in modern soulless and ruthless world of greed and hard cash. The goal here is not the money. The goal is to destroy the world’s unjust financial system. Financial Apocalypse! Before you join, be sure to get acquainted with our IDEOLOGY!”
In December, the Central Bank of Kenya (CBK) had warned the public about ‘virtual currencies’ that are not legal tender in Kenya. They stressed that “no protection exists in the event that the platform that exchanges or holds the virtual currency fails or goes out of business.”
It is not expected that the Central Bank’s warning will have very much effect as situations in Kenya closely resemble the situations in Nigeria that drove people to embrace MMM Nigeria. There is a failing fight against corruption by the government that is annoying citizens as well as making life hard for them.
MMM Kenya registered it’s domain name in 133, Sakura House in Tokyo, Japan with the name “Anonymous Speech.” It already has a Facebook and a YouTube accounts and guiders have become more aggressive in their pursuance of new sign ups.
Hopefully, Kenyans will do much better than Nigerians in rejecting the infamous pyramid scheme.