Business

World Ventures’ undertake business in Rwanda illegally

Rwanda Development Board (RDB) has warned the general public against engaging with World Ventures, a firm that that has been branding itself as a multi-level travel company.

The firm has gained popularity in Rwanda and across the region, markets itself by awarding members travel opportunities at subsidised prices in return for a membership fee and monthly contributions.

However, the government has warned that members of the public engaging with the firm are doing so at their own risk.

In a letter signed by RDB Chief Executive Claire Akamanzi, the government has said that the company is not registered to do business in Rwanda in accordance to the law.

“We have also learnt that some company representatives have been misleading the general public that they have authorization from Rwanda Development Board and other government entities- a false claim intended to delude the public,” the statement read in part.

The government said that having investigated the company, it possesses characteristics of a pyramid scheme which is illegal in Rwanda.

“We want to stress to the public that pyramid schemes are illegal in Rwanda,” RDB warned

How ‘World Ventures’ works

The firm employs multi-level marketing tactics to sell discount travel and holiday products, with members paying a fee to travel under opportunities branded as “DreamTrips”.

Members are also encouraged to recruit new subscribers to earn commissions and further discounts.

The firm entices potential subscribers using motivational seminars and prospects of easy earnings.

Recently in 2013, five companies such as Diamond Holiday Travel Ltd, Twese Development Initiative Ltd, Ingaru Company Ltd, Aguka Development Ltd and Cooperative Abigize were banned in Rwanda as they operated under similar models as ‘World Ventures’

The Express News

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