Get Ten Of Your Friends And Contribute Gh¢1000 Each Month And Share It As Loan – John Dumelo Advises

It’s disheartening to see how our economic situation worsens by the day as a result of unemployment, low income, and the skyrocketing prices of some goods and services.

Many young and old people have had very brilliant business ideas over the years but lack the financial muscle to bring those super ideas to life. Even those who try to achieve their dreams end up taking out loans from financial institutions, which usually carry very high-interest rates.

Given the difficulty that many people face in obtaining loans, as well as the high-interest rates that they attract, popular Ghanaian actor, entrepreneur, philanthropist, proud farmer, and UN Ambassador John Dumelo thought it prudent to share some brilliant savings ideas with his fans and followers all over the world.

The ever-handsome, thick-set, and talented actor and politician took to Twitter, writing: “Gather a group of ten of your closest friends. Make a monthly contribution of 1000gh. Every month, one person will receive 9,000. It’s a good way to save (for those who receive the least) and borrow ( for those who receive first). You can, however, increase or decrease the capital “.

This got a lot of his followers talking, and while some would like to believe in his idea, they took the time to ask some very pointed questions, as some wrote: “There is no return on investment, especially for those who are the last to receive. If you had invested $1,000 per month for nine months, you would have earned far more than $9,000.

Nonetheless, it may be beneficial for those who lack financial discipline “.
Some were also concerned that their friends would make excuses when it was their turn to collect.

See his post.

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