Following an inner investigation into WorldVentures by Rwandan authorities, yesterday the Rwanda Improvement Board issued a pyramid scheme warning to the general public.
The RDB’s announcement, signed off on by CEO Clare Akamanzi, states that WorldVentures is working in Rwanda illegally.
In accordance with the RDB, the illegality of WorldVentures in Rwanda is two-fold;
Firstly the corporate just isn’t registered to do enterprise in Rwanda, as required by legislation.
But regardless of this, the RDB claims to have noticed
some firm representatives (claiming) they’ve authorization from the Rwanda Improvement Board and different Authorities entities – a false declare, supposed to delude the general public.
Secondly, writes the RDB;
Having investigated the enterprise mannequin of this firm, it’s our conclusion that it possesses traits of a pyramid scheme.
We wish to stress to the general public that pyramid schemes are unlawful in Rwanda.
Rwanda’s WorldVentures ban follows comparable outcomes in Norway and Malaysia.
WorldVentures additionally bumped into regulatory bother in South Africa in 2015, nevertheless the result of the investigation was by no means made public.
Replace nineteenth September 2018 – In response to Rwandan authorities banning it for being a pyramid scheme, WorldVentures is claiming it “doesn’t do enterprise in Rwanda”.
One can safely assume Rwandan authorities investigated WorldVentures after promotional efforts by Rwandan associates caught their consideration.
Yeah, I’m positive WorldVentures had no thought it was being promoted in Rwanda…