Gifting circles: the time has come!

May 16, 2003

SIR— The reactions against gifting circles are quite overwhelming. The best we can do is to rag-tag with the victims. However, should they insist, let them gullibly fall into the snare.

SIR— The reactions against gifting circles are quite overwhelming. The best we can do is to rag-tag with the victims. However, should they insist, let them gullibly fall into the snare.
A similar fraud rocked western Uganda a few years ago. The scheme code-named Triple Nine (999) left many money-hungry people speechless. I remember persuading one prominent business woman in Kabale to desist from the temptation in vain. She walked into Centenary Bank Kabale and deposited sh5,000 on nine different accounts. The total was sh45,000. She smiled ear to ear, hoping that very soon she would be able to walk away with not less than sh10m. When she embarked on a hunt for nine other prospective investors, the frustrations grew by day. She was very lucky to have managed to convince five. On her account was deposited sh25,000. She only lost sh20,000. Quite a small amount for a woman who has been exploiting the rural Bakiga women by reaping hundreds of thousands from the sale of cheap polyester clothing imported cheaply from Dubai. There are others who lost fortunes.
Many Ugandans are gullible to opportunities to make quick money. In fact a good number have got ‘rich’ this way only to crumble in the next twinkle of an eye. It is a positive indicator that our country is going through an economic revolution. Many business empires in this country have been built on fraud and exploitation. The time has come when only the tough, genuine ones will get going. Let those in the gift circles take their lessons. Their graduation will be pretty soon.

Dominic Okecho
Kampala

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