MMM E.Africa, admin to MMM Zimbabwe has denied reports that it crashed in Zimbabwe. In an enquiry to MMM E.Africa via its website, the online consultant said:
“Good day. How is Nigeria today? I have received a lot of inquiries from MMM participants in Nigeria about a news article that appeared in some section of the media”.
“The general question from Nigeria is “has MMM Zimbabwe crashed?” Please note that MMM E.Africa where Zimbabwe falls under has not and will not crash. The only notable thing to write about is the Pause mode effected from 10 August and lifted on 6 September.
“It was to build PH reserves. It has since been lifted and the GH train is slowly and surely moving. Also note MMM E.Africa is not linked to MMM Nigeria, and whatever happened, is happening and will happen in MMM E.Africa has no influence or effect whatsoever to MMM Nigeria”.
“What will contribute to a crash any MMM is unnecessary panic like the one which may arise as people believe old news which a journalist just copy-pasted from an early August 2016 piece. Please relax, stay calm, Provide Help, Get Help, recruit and together we change the world”.
The stance that it is still operating in Zimbabwe is exactly the opposite of what some of its members told reporters in Zimbabwe
MMM E. Africa has not publicly given this statement. In August, Reserve Bank of Zimbabwe, RBZ had warned all Zimbabweans to stay away from the scheme calling it a Ponzi Scheme. Securities and Exchange Commission of Nigeria had also warned Nigerians about MMM.
Mrs Rosemary Mawonde, an MMM member in Zimbabwe said: “We never thought the scheme would end this way as we believed that by using EcoCash to do the transactions, things were in order. I am surprised that EcoCash is also distancing itself from the scheme and it is clear that I will never recover the USD300 that I invested.”
EcoCash, the mobile money operator used by MMM members to transfer funds amongst themselves denied having any link with MMM. The company issued a statement that:
“We advise our valued customers and all stakeholders that Ecocash is a licensed mobile payment platform that enables customers to make financial transactions such as sending money, buying prepaid airtime as well as paying for goods and services within the confines of the law of Zimbabwe. EcoCash promotes safe and legal transactions but will not be held liable for any losses arising from the use of EcoCash to engage in illegal activities such as Ponzi schemes.”