INVESTMENT groups and WhatsApp stokvels are Mzansi’s new craze.
But people have been warned to be careful.
Participants who invest R200 are told they stand to rake in R1 000 profit. Those who invest R1 000 are promised an extra R2 000.
But only a few of those who joined are said to have benefitted. Many others have suffered severe losses.
Thembeka Mchunu (36), who considered investing R200 in a group, said most of the members were strangers.
“I was sent the link by a friend. I didn’t play along but watched how they did it. They encourage you to pay the minute they see you’ve joined.”
She said one was required to pay up R200 to stand a chance of making R1 200 profit.
“That person keeps the R1 000 and rejoins with R200. I don’t think everyone who joined will end up getting money, so I decided to leave the group.”
Ntokozo Khanyile (48) joined a R100 group and said she received R500. She then rejoined it. “I got the link from my friend who is also in the group, but I don’t know the rest of the people.”
One woman said she joined a R1 000 group but people no longer got money as the group got bigger.
“Most people realised the dates to get money were no longer the same. I asked why there were changes and I was removed. I’m still going to report it to the police.”
KZN cop spokeswoman Nqobile Gwala said no cases were reported.