This review explains that Basadi Africa Projects is an investment scam that you should stay away from.
What is Basadi Africa Projects
Basadi Africa Projects is presented as an investment company that invests in mining, agriculture, logistics and finance.
The important thing is that anybody can invest with Basadi Africa Projects, the minimum amount is 1,000 ZAR.
Returns on investment go from 20% to 40% monthly, while the duration of investments is 90 to 360 days.
Basadi Africa Projects Ltd. is a company that allegedly is based in Johannesburg, South Africa.
But can you trust this company, is it a legit investment opportunity?
Basadi Africa Projects scam
No, Basadi Africa Projects is not legit, it is a scam. You should avoid this investment program because it would make you lose money. Here is why.
Perhaps the biggest common sign of all investment scams that we have reviewed is the ridiculous ROI (return on investment) that is promised every time. Most often it is 1% or more per day, which is just impossible to achieve in the real world.
A lot of people don’t want to hear this, but in legit business there is just no way to make 40% per month, every month. The economic reality does not allow that, not even in investing.
Yes, you can take extreme risks and make 40% in one month, but you can’t make that every month. And we are talking volatile and very risky assets such as cryptocurrencies.
If you look at traditional industries like mining or agriculture, it is totally impossible to make tens of percent per month.
So the only possible conclusion here is that Basadi Africa Projects is a scam because it promises returns that are impossible in the real world.
Should Basadi Africa Projects be legit, they would provide you with details about projects they invested and are investing in, they would prove their results and you would be able to verify all the information.
But Basadi Africa Projects don’t mention a single specific project, they don’t give any specific information, they just say the invest in different industries. Which is a big red flag.
Basadi Africa Projects admit that despite running an investment scheme, they are not regulated. They say they work as an unregulated collective investment scheme (UCIS) in South Africa. Suggesting that this form of an investment scheme is allowed by the Collective Investment Schemes Control Act 2002.
But according to our research the Collective Investment Schemes Control Act 2002 does not allow unregulated investment schemes, see here.
In other words, according to the law, collective investment schemes are subject to regulation and managers working in the schemes must be registered with the financial regulator.
Basadi Africa Projects don’t even tell who their managers are, let alone if they are registered. Therefore we must assume that they are not authorized to run a collective investment scheme and that Basadi Africa Projects is breaking the law about collective investing.
How Basadi Africa Projects work
Basadi Africa Projects is an obvious scam. They might be trying to run a Ponzi scheme, where they will take money from newer members to pay older members. That is if they are paying at all.
But it seems that Basadi Africa Projects is not paying at all, which is a sign of a scam failing. In any case you should stay away from this investment program, because it is not legit.
Basadi Africa Projects review – conclusion
Basadi Africa Projects is a scam, it offers impossible returns on investment, it provides no real information, and it is not regulated. Stay away from it.
If you are interested in legit investing, you can try it on a free demo with a regulated broker.
If you later decide to switch from virtual to real money, please be sure to understand the risks of investing.