About a year ago, Kenya was hit by one of the largest waves of making fast money, Earnsmart Kenya. A pyramid scheme that was pretending to be a multi-level marketing business. However, just as quickly as it appeared, the business Earnsmart disappeared. Here is what we know about it so far.
Touted as one of the most legitimate and quickest ways to make money, and being embraced/endorsed by popular Kenya celebrities, Earnsmart got many Kenyans engrossed. And many did join, as the fee was low and affordable, Ksh 500.
However, the people joining the online money making website, which worked by friends referring friends to join didn’t know what they were getting into. It is fair to say that the early joiners managed to make their money back,. However, those who came to join the website later had a hard time even making back what they invested.
Here is what gadgets-africa.com had to say about earnsmart:
“Earnsmart agencies is a networking platform created to help people earn through an affiliate program. Well, that’s what their PR states. However, EarnSmart is really just a pyramid scheme with some added opportunities.“
Source: gadgets-africa.com | EarnSmart: The Celebrity Endorsed Pyramid Scheme?
Now, all that is left as evidence of the page existence is a website that has been suspended and an inactive Facebook page. This, unfortunately, is the lifecycle of a pyramid scheme.
It is good to learn the difference between a Multi-Level Marketing business and a pyramid scheme. This link explains how to spot the difference between the two.
I’ll also leave a video below that differentiates these two types of networking marketing models and what you need to watch out for. Stay safe.
VIDEO: Multi-Level Marketing vs Pyramid Scheme: What’s the Difference?
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