Business News of Monday, 19 March 2018
Some customers of Savanna Brokerage, an online investment company, are crying over their locked up cash.
From investigations conducted by the morning show team, Frontline, on Rainbow Radio 87.5Fm, over 12,000 customers have their investments locked up with the company.
The investments according to some customers who spoke to Kwame Tutu, said, their investments range between GHc1,000 and GHc50,000. According to the customers, the online investment company has a system which operates with registered MTN merchant lines.
From further information gathered, the brokerage is a ‘’South African brokerage firm, specializing in providing a secure, convenient investment solution to clients from across Africa.’’
The company engages in accumulating funds of their investors and diversifying them according to innovative estimated schemes in the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities and minerals mining.
A customer told the host that, they have been unable to activate their accounts online after days of subscribing to the operations of the company.
The official website of the company has also been suspended when rainbowradioonline.com visited the page. MTN has also suspended the use of their merchant lines for the company because they indicated to customers who complained to them that, they had no business with the brokerage company, one of the customers said.
The customer said MTN told him the telecommunication company was still investigating the matter.
The investment packages are the different investments options that customers can choose as their investment option.
They differentiate in terms of durations, profits percentages, minimum and maximum amounts for investments and many more.
Below are the packages
The packages include Kings, Queens, and Knights Investment packages.
The Knight Investment package has a 110% Return on Investment with a minimum of Principal: GHc 50 and maximum Principal of GHc 10000 with a Duration of 7 Days With the Queens package, customers are entitled to a 160 percent return on investment with a minimum of GHc1, 000 and maximum of GHc10, 000 investments with 30 days duration.
That of the Kings Package promises customers 200 percent return on investment with a minimum of GHc50 and maximum of GHc10, 000 and duration of 90 days and 2.2 percent daily payments.
The customers have appealed to authorities to intervene as their investments have locked up and some of them losing their source of livelihood and business capital. How does it work? Savanna Brokerage offers a referral commission of 5% to all members.
This means that, when you register someone with your affiliate link which you can find at the affiliate program section on the Account Menu, you are entitled to 5% commissions anytime your referred members invest on the website.
You can simply register and promote your affiliate link on Whatsapp, Facebook and other social media for referrals.
Money earned through it can be reinvested for more profits. It is an amazing way though starting with something small whiles the commission gets added may be a good start.
You can also start with 50 cedis and work to add more affiliate commissions. The company started operations in Ghana about a year and few months ago with a total of 16,909 customers.
Total investments of GHc24, 118,800, total cash-outs of GHc14,953,656 and insurance fund of GHc40,760,772.