MMM Nigeria this is how MMM Zimbabwe crashed, very similar to what is happening to you now
Theoretically, MMM Zimbabwe has collapsed. The pyramid scheme that offered participants 30% interest through its peer-to-peer donation exchange program succumbed to defeat on the 10th of August 2016 with the final blow being dealt on 1st of October.
Over the past weekend, 66,000 MMM Zimbabwe participants were shocked to find their account balances slashed down to 1% of its previous value, and that after an 80% reduction.
The question on many people’s minds now is whether they will ever get their money back and if yes from who and when?
Will they get their money back?
At the present moment, the system is allowing participants to withdraw the 1% and have their accounts cleared right after.
However, this is only on condition that the withdrawal gets matched with a participant either entering the system or an existing member willing to provide help.
So even at 1%, it seems highly unlikely that participants will get their money back.
The only possible way participants can get their money back is if they restart the system and process of recruiting new participants with existing members willing reinvest.
Based on what happened with MMM South Africa, it is likely that MMM Zimbabwe will request to restart their system from their parent organization MMM East Africa ask to run two accounts for each of its participants.
A “new-mavro” and “old-mavro” account will be opened allowing participants to transact in the new system and slowly get paid back.
According to Businesstech, when MMM South Africa restarted after its collapse, it released the following statement explaining its new approach to its participants:
….. With the development of the system, we will send 10% of the total inflow (of all the PHs) to pay for the “old” Mavro.
According to the experience of other countries, we can definitely say that in the normal course of events, all the old Mavro debts will be paid off in about six months.
“New” Mavros (Mavro bought from the moment of this announcement) are introduced. You can use them on a common basis: to ‘acquire’ and ‘withdraw’ them at any time.
All of this, of course, is not very nice, but it’s not the end of the world. We will quickly pay off “old” Mavro debts, no doubt about it. You just have to wait. (And anyway, you can thank your precious media and banks for this “gift”!). The best thing you can do is just to start participating again, that is all. And you will quickly return everything, even with a benefit. Moreover, now is the most favorable time to participate and invite: in fact, everything starts from the beginning. So do not miss your chance! :-))
Administration….
From Who?
Based on South Africa’s MMM collapse participants only have themselves to hope for repayment. The system can only pay out if it is regenerated and can only be regenerated through more activity.
It all depends on how much the MMM participants are willing to sacrifice to have their system back up by reinvesting in it and if they are still in a position to lure in the general public to participate.
…When?
Again looking at South Africa, they estimated their system may take up to 6 months to regenerate, but that is only if people start to participate in the system again.
However, Zimbabwe has two major issues, the current cash crisis and the impending introduction of the bond note. These two factors both contributed to MMM Zimbabwe’s collapse and will most likely contribute to its failure to restart.
MMM Zimbabwe collapsed due to fear and uncertainty of the future of Zimbabwean economy. Participants speculation created panic persuading them rush and withdraw money while they still could and in USD (cash).
The imbalance between withdrawals and deposits caused the pyramid to collapse. There was no way MMM Zimbabwe could stop its members panicking from much larger economic indicators.
So, looking at all the factors in play, it is highly unlikely that MMM participants will get any of their money back or will restart in the near future.
However, pyramid schemes will most likely always be introduced into Zimbabwe. It will just be a case of the new scheme pointing out faults in older schemes and promising a different more stable approach.
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24 comments
I once told people here that whilst people were being sold hope by being given dates like 16 September for a return of service, the ponzi masters were busy withdrawing money from ecocash accounts using various fake IDs.
Leak your wounds people, you were scammed, move on or wait for another ponzi scheme to come.
Kuda zvemahara zvamusina kushandira, muchafa muchinanzva madziro sebete rakasiiwa padongo!
Haidzoki. Yafa yaka loader
Tighty ,so is there any alternations really to back the participants
Altenations for what? Haunete kubirwa?
There is still the old truth: if it sounds to good to be true it likely is. I don’t get how ppl buy into these “recruit others and get money” things whether it is selling makeup, travels or whatever. And then find themselves surprised when it collapses due to no more recruits and the few fat cats at top of it being happy
I dont understand all these type of help that can be rendered and to who How does it bring interest
please i just need a brief explanation on how to
gain from mmm and also how to join
if you are in nigeria it very easy just type MMMnigeria.net on google it will bring MMM page in bold there you will see a place for the registration click on it and follow instruction carefully however before you register try read the MMM IDEOLOGY very well and understand it and if you in need of my help contact me on omoolope_101@yahoo.com
MMM PARTICIPANT
THANKS
I want to no more about mmm
if you are in nigeria it very easy just type MMMnigeria.net on google it will bring MMM page in bold there you will see a place to read about MMM IDEOLOGY you can reach on omoolope_101@yahoo.com if you need help in order to have more knowledge about MMM
MMM PARTICIPANT
THANKS
news is speculating that a final year student of university of Nigeria nsuka has commited sucide on the 27th November 2016 because of MMM not paying him when he GH. what would you say consigning this because I belived that this story would encucate fear in the heart of many.
mmm guiders are thieve when one provided help sebi he wiil be looking for gh ,since 2016 mmm neglected 2016 and jump for 2017 and ask 2016 waitting for his or her money to support 2017 before she can see or get small out of his money is it a good game , stop doing mmm is a programme of doom
mmm guiders are thieve when one provided help sebi he wiil be looking for gh ,since 2016 mmm neglected 2016 and jump for 2017 and ask 2016 waitting for his or her money to support 2017 before she can see or get small out of his money is it a good game , stop doing mmm is a programme of doom
Nigerians are so greedy, the funny part if u advise them not to do it you become their enemy immediately. Bunch of lazy and yeye people. I have some frds who are crying now. Fools
Is MMM still going to pay back our money?
No
Is mmm still going to pay back our money
i getasked my guider he said i can not get my money since last year which iam due of , instead i should provide little help for mmm 2017 participant before i can get small gh out of my money they are theives my guilder say i can not get my 2016 gh wihout ph for another set of 2017 very bad
i asked my guider he said i can not get my money since last year which iam due of , instead i should provide little help for mmm 2017 participant before i can get small gh out of my money they are theives my guilder say i can not get my 2016 gh wihout ph for another set of 2017 very bad
i asked my guider he said i can not get my money since last year which iam due of , instead i should provide little help for mmm 2017 participant before i can get small gh out of my money they are theives my guilder say i can not get my 2016 gh wihout ph for another set of 2017 very bad
hello if MMM get away with your money this a way to get back your money just contact via email Jennifernicodemus71@gmail.com
This is to officially announce to all MMM members in Nigeria that we are currently updating our website for 50% upgrade. We are sorry for the inconveniences. To process or to retrieve your funds kindly contact Mr Michael Jeffery for more information call MMM help center with the following number +2349055708106 or email: nigeriammmagent@gmail.com
MMM WHEN WILL YOU COME BACK IN FULL OR HAVE YOU GONE. FROM ABIA STATE.
Since last December I’ve been waiting four my money till today.did somebody get some?