Don't be a victim of the WhatsApp scam

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BY: Surprise Golela

Image result for whatsapp stockvel
The WhatsApp stokvel is back but this time with a new name “WhatsApp gifting”. We saw this kind of a pyramid scheme making rounds last year and a lot of people were left in tears, even this year the so-called stokvel is back and a lot of people are falling for it.

Even under the new name the stokvel still has the same arrangements as last year. Members are required to deposit either R50, R100, R500, or even R1000 depending on the type of group you find yourself into, and in return, You are promised to make huge profits.

The National Stokvel Association of South Africa (Nasasa) has previously warned the people that these WhatsApp stokvels are most likely to be pyramid schemes than genuine savings.

Like most pyramid schemes, people who joined first usually get their payout but those who join afterward are unlikely to get their money and they lose everything.

Many victims who were part of these groups in the past have seen group administrators exit the group after making payments into the stokvels.


We cannot run away from the fact that this WhatsApp stokvel involves anonymous people and it becomes impossible to track the money if the people disappear.

It is in your best interest not to fall for such schemes

Location: Pretoria, South Africa

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