Rwanda Bans ‘D9 Club’ Operations

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Rwanda Central Bank issued a statement banning the operation D9 Club a financial pyramid scheme.

John Rwangombwa, governor of the central bank described D9 Club as illegal –it uses Internet chain recruitment with the characteristics of a pyramid.

The scheme has already spread wings n Kenya, Uganda and Zambia.

A statement from central bank noted the organisation had illegally set its foot in Rwanda—operating under the name of one Smart Protus Magara.

The statement warns Rwandans that the scheme is “a scam” not allowed to operate in the country.

“It has come to the attention of the National Bank of Rwanda that an organization known as D9 Club, which uses internet chain recruitment with the characteristics of a pyramid is extending its operations in Uganda, Kenya, Tanzania and Zambia. It has also come to our attention that that Mr Magara Smart Protus, the promoter of D9 Club in Uganda, has been running the operation in Rwanda,” the statement reads.

He notified commercial banks of“…this scam and require you to put in place adequate controls to prevent transfer of funds to this scheme and to stop its spread across the country.”

This is not the first time similar business schemes stopped in Rwanda. In the recent past, similar schemes such as Tianshi and QuestNet suffered similar fate having failed to meet the required tax procedures.

Though easy to understand, the pyramid scheme is still regarded as an “illegal” way of making money according to experts.

According to internet information, D9 Club offers four different packages to suit the pocket of their clients, namely

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