At some point, many Nigerians have been victims of one investment scam or the other. There are many reasons they keep falling for these scams over and over again, but the major factors border on greed, widespread poverty and a lack awareness on how real investments work.
Many of the scams promise immediate and unrealistic gains, knowing people, who don’t see the scams for what they really are, want to go in, cash out, and get out quickly – a decision they tend to regret when they get burned.
What many these fail to realize is that, in most cases a proper investment rarely promises a monthly percentage gains that compounds. A proper investment also points out the uncertainties that come with investing, which is one of the reasons they do not guarantee a fixed monthly compounding returns – something many investment scams never do. This is because they are focused on convincing people they are the next best thing their potential victims will miss if they don’t get in quickly.
Take for instance investing in a Startup; no legitimate startup would guarantee a 5 or 10% monthly interest on your capital.
However, many great and legitimate African startups are making a big impact, especially in the tech space. These African Startups have been achieving great things and making good profit for their investors. Flutterwave just reached a $3 billion valuation; imagine what that would mean for their early investors who invested in…
