JOHANESSBURG – Among the various MLM businesses that try to attract our attention, finding the perfect blend of product quality, growth opportunity and compensation is difficult. In MLM magazine, we pick some of the most exciting opportunities from the field and provide you with our honest reviews for the same. Today, we look at a South African company called AddaBit that provides an option to save and create a fund for fulfilling your future dreams.
The following are some of the basic facts and features about AddaBit.
- Name: AddaBit, AddaBit travel buddies
- Business domains: Simple Social Saving platform
- CEO/Founder: Michael Griffin
- Headquarters: South Africa.
- AddaBit is a secure online platform for anyone to save and collect money. The travel buddies segment promotes to create a network of friends and families for saving and earning along with the opportunity of discounted holiday packages.
- Business partners – Absa, Sanlam, Liberty and Telkom
- You can opt for monthly savings schemes with Sanlam money market and also become eligible for discounted travel packages to various destinations around the world.
- The secondary stage of income comes from reference schemes and for each person you refer, an instant bonus of R500 is paid.
AddaBit was established in 2014 in partnership with the Futurum Financial Group (FFG) and the office is located in Centurion. The business channel called Addabit travel buddies was launched in 2019. The AddaBit Fund is based on the idea that future plans, dreams and goals need savings from the present moment. The fund manager can track the development of the fund and can also share the link with others for them to contribute. The funds are directed towards Sanlam investment schemes, earning competitive returns ranging from 5% to 8%.
In case you are joining AddaBit travel buddies, a one-time fee of R740 needs to be paid and any one option from five different savings levels can be chosen. You will also get an AddaBit Visa card which is supported by Absa and allows you to save on the banking fees. In addition, for every person that you refer, you earn an additional R500 which is paid into your card. You can create your own team and keep earning benefits up to 4 levels down the chain in the organisation.
One good aspect of the entire setup is that investors can check the up-to-date status of their savings and contributions, along with the complete list of referrals by logging into your AddaBit profile. There is also the option of earning additional amounts by subscribing to a Liberty Funeral Fund. The members can also choose discounted travels to destinations like Dubai, Phuket, Mauritius, New York and others. In addition, there is a third option for earning by buying airtime and data through the AddaBit platform.
AddaBit comes with a range of fresh options and has some unique features to offer through its schemes. The business appears to follow a transparent mode of operation without the need of elaborate trainings and since there are no direct products to sell, it will appeal to those who shy away from marketing. The company also proclaims that all the confidential data of the members will remain secure and free from any third party access. The fact that it has collaborated with some big brands also provides the right quotient of reliability.
For anyone looking for a right MLM business to invest into, AddaBit seems to bring the right options with some unique twists for better future prospects. For those who prefer a cautious approach, a few more years of observation can be a safer choice before investing.