Kang.... Hii deci haifanyi kama unavyoonyesha kwenye hiyo pyramid.....
Navyojua speed ya malipo pyramid inategemea watu wanavyojiunga katika hiyo deal. Na ukipata inakuwa imepita.... Kama ili upande ni watu 4 wakuchangie basi... Ukimaliza circle unatoka.... Kama unataka inabidi kuanza upya....
Sasa deci sio.... Ilikuwa ukiingia umeingia.... Unaweza usiongeze hata sent moja.... Ikifika muda uliopangiwa unapata pesa yako.
Sijui labda hesabu ndogo ndogo kama hizo zimenipiga chenga.... Lakini hesabu ya deci ni tofauti kabisa......
Duh! Mzee samahani, kama una degree naomba nikuulize. UMESOMEA DEGREE GANI?
Samahani ila nina maana nzuri tu kabla sijaanza kukuelimisha maana nina uhakika na 9999999999999% hujasomea elimu ya FINANCE.
"Police are said to be investigating the Development Entrepreneurship for Community Initiative (Deci) for operating an illegal funds management scheme.
This comes as the central bank issued a statement on Wednesday warning the public not to invest their money in the company.
Enthusiastic investors kept thronging the company's Mabibo offices in Dar es Salaam this week to deposit their money despite warnings the scheme was illegal and risky.
Deci, run by the Jesus Christ Deliverance Church, is understood to be promising investors 300 per cent interests within a period of between three and 12 months.
Local bankers have said the company is running an illegal pyramid scheme and cautioned depositors against risky investments.
The Bank of Tanzania (BoT) and Capital Market and Securities Authority (CMSA) issued a joint statement Wednesday evening saying the scheme was illegal.
A police official speaking anonymously told The Citizen yesterday the company was now under investigations for the illegal scheme.
The probe team comprises officers from the Criminal Investigations Department, Prevention and Combating of Corruption Bureau (PCCB) and state intelligence, he said.
It emerged this week that a Kenyan company with a similar name to the revolving fund scheme that has wooed thousands of investors in Tanzania collapsed last December with Ksh600 million (over Sh10 billion) of investors savings.
The Kenyan government is also said to be currently investigating the defunct company, which is called the Development Entrepreneurship for Community Initiative (Deci) Kenya Limited.
It is not yet clear whether the two are sister companies. Deci Tanzania officials have not confirmed any links with the Kenyan scheme.
Thousands of defiant Tanzanian investors have reportedly deposited billions of shillings into the company as bankers express concern it could collapse with investors' deposits.
Deci's 37 branches countrywide have become a popular spot for low-income earners and local business owners.
At its Mabibo headquarters in Dar es Salaam, the company is said to be receiving deposits from an estimated 3,000 people per day.
Deci officials last week told The Citizen that they had paid back Sh35 billion in profits and registered more than 500,000 members since last year when their activities picked up.
While the police yesterday remained tight-lipped on the said probe a source who spoke to The Citizen said some investigators had asked CMSA to confirm whether or not Deci was operating an illegal business.
In the joint statement, BoT governor Prof Benno Ndulu and CMSA chief executive officer Fratern Mboya said the company was not registered to operate the scheme.
They denied ever issuing Deci a licence to run a funds scheme and said the firm was involved in an illegal pyramid scheme that collapsed once in the country and in Kenya.
"It should be noted that, the promotion and participation in any pyramid schemes is an offence in terms of the provisions of the Penal Code, part of the statement read.
The statement confirmed there is a "thorough investigation" to establish the scope and nature of the companys operations in the country.
The central bank warned investors to discontinue any dealings of a revolving fund scheme nature with the company.
For its part, the CMSA, a government agency, said it was not aware of how Deci Tanzania was investing the money from its thousands of depositors.
Deci officials dismissed the criticism and claims the firm is running an illegal scheme as "unfounded and witch hunting," but did not explain how the firm made huge profits to pay depositors such attractive interests.
"We are not doing any business here, what we do is just revolve the funds, and that is why we call this programme 'tushikamane' revolving fund, we are just providing services and God watches over everything that we do," the firm's chairman, Reverend Jackson Mutalesi, said.
But media reports on the collapse of a similar firm in Kenya heightened suspicions on the sincerity of the scheme.
There are striking similarities between the Deci Tanzania Limited and the Kenyan company. The two have a similar name and both were started and run by religious organisations.
According to reports in the Kenyan media, Deci Kenya Limited operations went under when the Kenyan government launched a crackdown on suspected pyramid schemes.
A number of religious leaders later admitted to having misled their followers into joining the pyramid scheme.
Deci officials refused to talk to The Citizen yesterday when asked about the police probe. The firm's executive director, Mr Ole Loiting'ye curtly said he had nothing to say before disconnecting his phone.
But at the company's headquarters in Dar es Salaam investors seemed unmoved by the recent media reports. Some people jam the offices from as early 3am to late hours.
Posted Date:: 2009-04-02 07:38:00
Early entrants may haverst what they didn't sow but the laggers will reap a heavy loss and may cry. Join and withdraw earlier for easy money or never join late when the pyramid is exhausted. Read and see !
Clients flock to DECI despite queries on future
By Florence Mugarula
Offices of Development Entrepreneurship for Community Initiative (DECI) in Dar es Salaam remain a point of attraction for people seeking to deposit their savings despite the company's refusal to assure its clients about its future.
DECI's officials have refused to shade some light on their business operations amid revelations that a company with a similar name and operations collapsed in Kenya last December with Sh10 billion in clients' savings.
The Citizen reporters witnessed long queues of clients at the company's Mabibo headquarters waiting to deposit their savings.
The company, run by the Jesus Christ Deliverance Church, has collected millions from people who have been attracted by super returns on their deposits. The church-run financial institution has pegged its interest rates at a staggering 300 percent issued in three months.
The Mabibo offices are always jammed from as early as 3am in the morning to late hours in the day by eager clients of the scheme popularly known as 'pyramid' or 'ponzi' scheme.
However, DECI Tanzania board Chairman, Reverend Jackson Mutalesi, and the firm's Executive Director, Mr T. S. Ole Loiting'ye, have denied that their operations were a pyramid scheme.
The two dismissed concerns by some banking professionals about the sustainability of their financial institution. Experts have warned that depositors' money could be lost and warned people who have been attracted by unrealistic interest rates to think thwice.
But Mr Loiting'ye was yesterday unfazed when approached by The Citizen to comment on reports that a company called DECI Kenya Limited, also run by a church, went under in December following an investigation by the government into pyramid schemes that had swindled unsuspecting clients of millions of shilling.
He said in a telephone interview that he had nothing more to say about their company. He also said he was not willing to meet The Citizen reporters over the matter. "What more can I say? Your paper has already written everything about DECI and its operations, " said Mr Loiting ye.
Attempts to reach the official at the Mabibo offices were thwarted by private security guards and two armed policemen who said they had instructions not to let in any journalists. Scores of hotlines were switched off for the better part of the day.
A man who did not identify himself and waving a copy of The Sunday Citizen newspaper that broke the story about the company ordered out photographers who had gained entry into the compound.
"If you are from The Citizen then you better leave this place, you have already written a lot about us, you have besmirched our operations and you took photographs of our clients without our permission, just go we don t need you here," he said as he pushed him out.
Surprisingly however, many of the clients who were in the long lines seemed oblivious to concerns that have been raised. Most of them said they had not heard anything about the company and that they had seen colleagues earn "huge returns" on their first deposits.
Mr Hamis Misungwi, who joined DECI last year, said he believed the company would not disappear since it had been in operation for almost two years now. "If indeed it is illegal then many people will collapse of high blood pressure because they have pumped in a lot of money," he said.
Another customer, Ms Arodia Kisule, said she had never heard anything about DECI Kenya Limited. According to her, many people were confident and believed the company would not peter out easily.
"We believe DECI can not vanish, the company has already established branches all over the country, they have employed a lot of people, we are sure DECI is here to stay," Ms Kisule said.
Moreover, Geofrey Mtiganzi said that the company was making a lot of profit through the people's money. He said according to his experience, the money collected was loaned to other people who later pad back with interest.
The DECI officials have declined to confirm if indeed they invested the money in third party ventures to earn the said interest.
The DECI Kenya Limited run by faith based organisations went under with nearly KSh600 million (nearly Sh10bn) of deposits by its members spread across the country and is now subject to government investigations.
It was not immediately clear if DECI Tanzania Limited has any links with the Kenyan outfit. It may be a coincidence but the similarities between the two firms are striking. Like the collapsed Kenyan firm, they have the same name and were both started by religious organisations.
Both operate pyramid kind of financial scheme. According to reports in the Kenyan media, DECI Kenya Limited operations went under when the government started a crackdown on suspected pyramid schemes.
A number of religious leaders in Kenya later admitted to having misled their flock into joining the pyramid scheme.
Bishop Peter Ndegwa of Grace Chapel told a government investigating team that the flock joined the pyramid schemes because their spiritual leaders, like him, were fronting them.
Ndegwa who was managing DECI outlets in Kenya's Central Province said those who fell to the trickery lost their money. Bishop Erastus Njoroge also owned up, but said its proponents had also duped them.
The DECI Tanzania has registered 500,000 members in a revolving fund scheme whose rapid expansion, opening 37 branches in a short period has raised eyebrows within the micro-finance development sector. An estimated 3000 people visit its Mabibo offices everyday."
Regards
FP
