Fintech startup is the new oil money scam

Nawa o

gaius01:
Arrrrrrrh

Africans and Consistency eh...

Na only church and religion dem de consistent about

BarrElChapo:
Lol.....😂😂😂😂😂😂. African Sam Friedman

Lolzzz

Checkwell:
Africa and scam.

Lazy youths!

Terrible matter

kajog:
Soon no body go dey take blacks start up serious, u raise for business, u begin dey spend am like say company don stand haba

Very bad re-occurring decima...
Becoming a blackspot.

dennisworld1:
I wan run with fair money cash

Why not build a reliable credit score with them...my credit facility/eligibility with them now is almost a million to think i started@12k last two years on the app.

Wittyness.

Just imagine how much a CEO was taking out of a growing company, and you expect the company to stay afloat.


If this was how Bill Gates, Mark Cuban, Mark Zuckerberg, Larry Ellison, etc were taking from their founded companies when they started to live as emperors, would they still be standing and prosperous today?!!


Why is financial moderation and prudence such a hard thing for most Africans to adopt?!!

Small success, and you want to live like Kings and be hailed on social media.

SoNature:
As reported by WeeTracker, Boampong was earning $50,000 per month and allegedly diverted at least $8 million.


Black man cannot accountably manage huge money.

This is a racist comment. Lots of other Africans are managing portfolio far higher than this.
Africa has a population of over a billion, using this singular incident to characterized us all is unacceptable

Money don enter bush

Lol 😂

Baba don cash out naw...

I wan run with fair money cash

All this Elon musk boys

This one na small fish compared to the ftx guy but all na criminal sha 🤣

All these unicorns dem dey use scam investors

paskal16:
Fintech startup is the new oil money scam

easy scam

SoNature:


Black man cannot accountably manage huge money.

This is an ignorant statement.

You must be very silly to generalise.

yusufu16:
African startups are scammers.

What did he use the money to buy other than properties and luxurious cars.

Remove the individual right to luxuries and private properties and see African prosperity.

Lifestone:

This is a racist comment. Lots of other Africans are managing portfolio far higher than this.
Africa has a population of over a lion, using this singular incident to characterized us all is unacceptable

It's not racism, it's a fact. There's a reason African countries are struggling because of mismanagement, leaving their people wallow in abject penury.

The only language a black man understands is share the money. That's what kept this country where it is today.

This is insane. How can a CEO be earning $50,000 every month? There must be a way for the regulators to monitor these businesses and what the management staff are earning compared to the size of the business.
They must ensure that compliance is one of the key elements before full approvals are given and continuous auditing of their accounts.

Mid Youth startups, with all the exuberance still in their eyes, most often end up in looting & wreckage.

I trust opay Sha.
I think they will survive.....


The rest my 2 cent😂

SoNature:
As reported by WeeTracker, Boampong was earning $50,000 per month and allegedly diverted at least $8 million.


Black man cannot accountably manage huge money. This is why purely black countries are a big mess!

Are you a black man, and can handle a huge sum of money?

Earning $50,000 per month for company wey never even stand? How do you expect the company to grow No be juju be that?

Nigeria=Ghana
Ghana=Nigeria
🇳🇬=🇬🇭
Never trust them with your hard earned money.

It's not their fault, there are a lot of strange restrictions with fintech in Africa.
Those of you using your empty stomach to reason about his pay should know that for what he's building, the amount he's paying himself is low. Because you cannot imagine that type of money, also remember that you cannot imagine inventing what he invented either.

Same story with this other payday startup and patricia. Ceos living fast life

Angelfrost:
Just imagine how much a CEO was taking out of a growing company, and you expect the company to stay afloat.


If this was how Bill Gates, Mark Cuban, Mark Zuckerberg, Larry Ellison, etc were taking from their founded companies when they started to live as emperors, would they still be standing and prosperous today?!!


Why is financial moderation and prudence such a hard thing for most Africans to adopt?!!

Small success, and you want to live like Kings and be hailed on social media.

Any startup that the ceo takes out money like this is a red flag

Jcomtrader:


Any startup that the ceo takes out money like this is a red flag

A huge red flag...!


Why the rush to eat a barely mature harvest?!

Why not allow the business stand firmly for at least a decade before plucking away at it?!!

Nope. All start has higher percent of failure. Start up has 98 per cent failure rate even in silicon Valley. Start-up is like gamble. You invest $100, it blows up and you make $1m but your chances is %2.

yusufu16:
African startups are scammers.

nlfpmod:


https://techcabal.com/2023/10/06/ghanaian-fintech-dash-shuts-down-after-raising-86-1-milion/?utm_source=&utm_medium=twitter

Wonder how true this is. But then again, when it sounds too good, it may actually be bad.
All financial houses should be registered with Deposit Insurance agencies, to forestall these extremely unfortunate events