Elamant South Africa, Zimbabwe, Review.
Maybe you have heard about this cashback program from a friend, relative, or stumbled upon it on social media. The company is popular in many African countries including South Africa, Zimbabwe, Botswana, and Tanzania among others.
Congratulations for exercising due diligence and searching for Elamant South Africa, Zimbabwe, review before making up your mind.
In this honest review of Elamant, l will tell you who is the founder, how does it work and how can you make money with Elamant. I will also explain why it takes 6 months to earn money with Elamant without recruiting.
For Elamant South Africa or Zimbabwe registration, you need to find a sponsor with passes who can pay for your subscription. You can also pay for your subscription using Bitcoin.
Stay with me;
l will wrap off by letting you know if Elamant is a scam, Ponzi scheme or pyramid scheme. Or it’s a legit MLM company. Why l think Elamant will shutdown, close business, or fail – soon or later.
What Is Elamant – CEO or Founders.
The program was launched on November 8th, 2017 in Singapore. Elamant is a name derived from a combination of the word elephant and element. The Ceo or founder of Elamant is Ryan Evans, from Missouri which is in the Northern part of Central America.
Ryan Evans is a former consultant of a company that failed called Saivian. It was following a similar concept of hiding behind cash backs on grocery purchases yet behind the scene it was a glorified pyramid scheme. l warned people about the Saivian scam in 2016 on one of my former website that l sold for $38 479 in 2017. Saivian collapsed and shut down its doors in September 2017. May It’s Soul Rest In Eternal Peace.
Back then, people were moving from another collapsing hamper and Cashback based Multi-Level Marketing called Life Tree World to join Saivian. As usual, once one MLM collapses, leaders drag their ‘teams’ to the next opportunity, this time it’s Elamant.
Now you know that Multi-level Marketing IS NOT A BUSINESS. You are just a glorified CUSTOMER.
No one owns a business online without creating your own website. Neither, can you claim to own a business created on someone else’s website…. talk of Facebook, Youtube, LinkedIn, and so forth. You can get booted out anytime. The good part is, you can learn, create, and own a website for FREE.
Back to business;
Elamant CEO, Ryan Evans claims that he has studied the weaknesses of his former company and he came up with an alternative. That is how MyElamant.com was formed.
Unfortunately, when it walks like a duck and quacks like a duck …. IT IS A DUCK!. Sooner after launching, the business ran into teething problems.
According to Ryan; ‘
‘A company will rarely begin its journey more than once, or as in our case… four times!”
Elemant shut down and closed its doors for four times in 2 years! Let’s see how many lives a cat has.
How Does It Work?
My Elamant cash back is a membership-based club that offers several benefits to its members. It is free to join but you will need to upgrade your membership to enjoy the full benefits. The company claims that it has partnered with Big Data companies that are searching for information on customer behavior, analyse it, and in turn sell it to various other companies.
So once you subscribe and become a member, you can start collecting receipts of your purchases. You are required to scan and submit scanned copies of the till slips.
Additionally, you also need to complete Elamant data redemption or collection form online. The total amount of receipts must not exceed $250 per week depending on the exchange rate.
The partners will pay 20% cashback on the total amount of ‘approved’ receipts submitted to them. If you max out the $250 per week, it means you will have submitted receipts worth $1 000 X 20%, your earn ”$200/month”.
Receipts are submitted weekly and payments made monthly. Unfortunately, payments are in points and passes.
How Long Does It Take To Make Money With Elamant?
Unfortunately, for you to make $6 ‘profit‘ with Elamant without recruiting it takes 6 months.
Are you surprised?
Did your recruiter lie to you that it was ONLY 3 months?
It’s only after you upgrade your membership for $99 per every 28 days. You collect and submit receipts for 30 days. You wait for a 30 day verification period.
Payment is on the following month, that’s on the 90th day. Now, because subscriptions are after every 28 days, it means you must subscribe for 3 months before you get paid.
Let’s do the math for 6 months.
Subscriptions are after every 28 days which means you must pay;
6 X $99 = $594.
You must wait and pay subscriptions for 3 months before you can start earning points from receipts submitted.
First 3 months X 0 = 0
3 X $200 = $600.
Total Earned in 6 months = $600 – $594 = $6.
You will earn a measly $6, that’s 1 dollar per month if you don’t recruit new people to join Elamant.
Alternatively, you can recruit at least 3 new members, and your subscription per month will be covered. You sell your points and passes that you earn to new members for REAL money. As l said, this is a recipe for a disaster because people are just selling each other the so-called ”points” yet they are paying ‘actual‘ money to recruiters.
The moment one can not find ‘where to sell Elamant points and passes‘, the market is saturated. The inevitable happens. The pyramid collapses. Just like in MMM there is a danger that fake ‘points‘ and ‘passes‘ can be created into the system by the owners and sold to members for Bitcoin or cash.
What You Must Know Before Joining.
- Only receipts received after upgrading your membership will be considered for cash backs.
- Read Elamant’s Terms and Conditions because there are several purchases that DO NOT qualify for cashback.
- Always submit receipts with a total amount more than $250 but below $500 just in case some are disapproved.
- Goods for resell or wholesale do not qualify for cash backs.
- Value Added Tax charged does not qualify for cashback.
- Minimum amount per reciept is $5 and Maximum per reciept $500.
- You can only make money with Elamant without recruiting after 6 months.
You pay $594 in subscriptions in 6 months.
You earn $600 in 6 months because of the 3 months waiting period.
Profit after 6 months …….. $600 less $594 = $6.
With $594, l pay for the following the whole year and get some change;
- Affiliate Marketing Training.
- One-on-one coaching.
- Easy to use, 1 minute WordPress Web-builder.
- Secure Hosting for 10 websites.
- Free .com domain of my choice.
- 24/7 Live Support.
Elamant Online Business Opportunity.
Another way of earning money with Elamant is to refer other people to the program and build a team. Rewards are paid depending on the number of people that you refer to the program. Your success will depend on the team that you join. If you join the wrong team, you are destined for failure.
Elamant consultants can also sell ”passes” to new members when they choose to upgrade their membership. You can buy a pass (equivalent to the monthly subscription) from your sponsor. The pass is then used to pay for your subscription.
The main problem is that Elamant only pays in points and passes. Once, there are more points and passes in the Elamant system than people can ‘BUY’. The chickens are coming home to roost.
The only other method to pay for membership is using Bitcoin. That is a red flag. It may imply that the company if failing to secure any payment processor or bank that can process the payments due to a flawed or ”illegal” business model.
There are also promises of Elamant travel packages that will be sold inside the platform. Unfortunately due to COVID 19, there is no travel to talk about when even travel across provinces within the two countries is restricted.
Active Member: Subscription is up to date. Enjoys All the benefits and can bring in others on free membership.
Trial Member: Joined on free membership. Limited benefits. Expires in 60 days.
Inactive Member: If membership is not upgraded in 60 days. Can be terminated after another 60 days.
Terminated Member: You will be removed from the database and you need to rejoin as a Trial Member.
Why Elamant Will Close, Shutdown or Collapse?
- Payments are through passes – if you are new and your sponsor or referer does not have adequate passes, paying for membership is almost impossible.
- Payment through Bitcoin – if you have never used Bitcoin, this can present challenges. You will need a bitcoin wallet, find legit platforms to purchase Bitcoin, and then pay for your membership.
- First ”payment” is after 60 days – this can be an eternity given that you are still required to pay for membership until you start receiving your cashback.
- Success is team-based – if you join the wrong team which offers no support or training on how to promote Elamant you are bound to fail.
- You are paid in data points and passes – Even if a member you recruited pays Bitcoin into the system.
- Excess on receipts – It can NOT be rolled over to next month.
- No new recruits – Since this is Elamant South Africa, Zimbabwe review, you must know that these countries do not have infinity populations let alone people who can afford $297 in 3 months.
- Zimbabwe Is Using Bond and ZWD – Receipts from shops still show the currency used to purchase products as USD yet in reality 85 ZWD = 1 USD. All the claims of points on shopping receipts claiming that they are in USD are therefore fake and fraudulent.
- History repeats itself – If you have been around internet for a while, you will know that people left Life Tree World when it was collapsing to join Saivan. After the collapse of the later, most of them followed Ryan Evans to Elamant.
Due to the challenges discussed above, it’s a matter of time before Elamant shutdown collapses, or fails. The reason is the same, there are NO real products or services being sold to ordinary consumers. Only subscribed members can get access to the benefits. Since NOT everyone is willing or can afford the subscription, soon it becomes saturated.
Who is it for?
Travelers – The company will offer traveling deals and discounted packages in partnership with companies in this industry. Heaven knows when that will be.
Entrepreneurs – Training in business and personal development will be accessible to members.
Everyday shoppers – Rewarded by data points which can be redeemed for bitcoins or in future, cash.
Opportunists – Those who just ride on the wave – make money and disappear. Those who think that as long as THEY are making money a business is legit.
Good recruiters – It takes 6 months to earn your first ”$” with Elamant without recruiting.
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Is Elamant MLM, Pyramid Scheme, Ponzi Scheme or Scam?
Multi-level Marketing (MLM) – Yes, the business has an element of being an MLM but there are NO tangible products to talk about.
It is unbelievable that there are ”Big Data” companies willing to pay $200 per month for data from receipts for countries in Africa. Let alone when purchases in Zimbabwe are being made using the devalued bond and ZWD notes. People also us Mobile money transfers and Bank cards to make payments.
Pyramid Scheme or Ponzi Scheme – Once the earnings of members in an MLM are mainly from new recruits more than the ‘product’ being sold or service being provided, the business has crossed the red line.
It becomes a pyramid scheme or at worst a Ponzi Scheme. According to the Federal Better Business Bureau, 51% of the money in any legal Multi-level business must come from sales of products NOT member’s subscription.
Whether or not, the business has crossed the line, only the founders of Elamant know.
Is Elamant scam or not?
Scam – Time will tell. So, is Elamant scam or not? At the end of the day, the business must be in a position to pay all its members the monetary value of their points and passes at any given time. This is doubtful though, as the company mainly operates on a peer to peer payment model.
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That was my Elamant South Africa, Zimbabwe, Review. Please share your thoughts, opinions, or experience with Elamant in the commentary box below.