Multilevel marketing is all the rave among Kenya’s youth. These schemes promise to turn broke and idle youths into overnight millionaires. However, they are nothing more than endless money pits. This is the bitter reality that Willis Raburu learned about.
The Citizen TV news anchor lost more than Sh. 300,000 in a one of these multi level marketing con games in Nairobi.
In an interview with a local news platform, Raburu explained how he had always had the spirit of entrepreneurship. In his secondary school days, he used to sell biscuits and water. Now he has launched hos own line of branded masks and meat products.
“I had a secret water tap that none of the students knew about and I sold water to them,” he narrated. In his early 20s, he was introduced to a multi-level marketing scheme that promised to make him rich overnight. He borrowed Sh. 300,000 from a friend with the promise that he’d pay it back with interest.
“I thought about the amount of money I would make and be left with after paying the balance. I didn’t know what lay in store for me. They convinced me to bring in other investors. This would have me making more money. I also bought their products which they sold to me at a discount in order to increase my profits,” he said.
Once he parted with the money he had borrowed, the company went ghost on him.
“After investing all the money, they stopped picking my calls. When I went to their offices I was told they had moved. That’s when I discovered I had been conned,” Willis Raburu said. Some of the popular multilevel marketing firms in Kenya that have left thousands of youths reeling in losses include AIM Global.