Has someone tried to pitch you the Mema opportunity lately?
It’s a relevant question since Mema is a really popular and established opportunity that is making its rounds on social media, particularly among entrepreneurs such as affiliate and network marketers.
The purpose of this article is to bolster the “About us” section on the Mema Website. I am going to try and provide an unbiased, honest and factual representation about who we are, and what we do.
We’re a couple of entrepreneurs who came together in 2012.
Our goal was to create a smart, yet simple DIGITAL retail store, where consumer details were saved in order for us to be able to recognize and then reward them financially when they are directly or indirectly responsible for the same products to be moved through our supply chain.
Mema, short for “MEMA Affiliate Marketing (PTY) Ltd”, was registered as a company with the South African Commissioner of Companies & Intellectual Property Commission (CIPC) on 6 March 2013.
The interesting fact is that the word “Mema” actually means “invite” in isiXhosa (IsiXhosa is a language spoken by the Xhosa, the second largest cultural group in South Africa).
The significance of the word “Mema” provides a deeper meaning to our existence, the way we connect, collaborate and learn about this business.
WHAT IS IT THAT WE DO?
We’re all about MARKETING DIGITAL products at fair market- related prices to the consumer through our online retail store and SUPPLY-CHAIN.
» “Marketing” implies moving a product from a supplier to a consumer.
» “Supply-chain” normally entail MULTIPLE entities, including our consumers, functioning on various LEVELS.
Due to the value and practicality of our product offerings, our growing consumer base choose to keep their product portfolio alive on a monthly basis, whether they are focused on marketing the available products or not!
Secondly, we have a SYSTEM OF COMPENSATION in place when our consumers are causing any of our products to move through the supply-chain, irrespective on what level they function, and without subjecting them to scrupulous conditional selling or marketing strategies.
HOW DOES THIS “SYSTEM OF COMPENSATION” WORK?
We share profits through our Uni-Level referral program for recurring subscription type products.
Our upcoming Board Cycle Program will, on the other hand, cater for once-off type subscriptions. It will pioneer how we engage and think about generating a passive income from a once-off payment.
Each of these programs runs independently from one another, featuring their own and unique set of rules.
Our system provides a management tool for our business partners which enable to them to monitor, and manage their subscriptions and business.
Mema, Affiliate and Connecta members mutually agree to these rules and therefore enter into an agreement, similar to a franchise agreement, to use our system. Mema is the franchisor, while Affiliate and Connecta members are the franchisees.
The definition of a franchise is as follows: “Franchising is simply a method for expanding a business and distributing goods and services through a licensing relationship. In franchising, franchisors (a person or company that grants the license to a third party for the conducting of a business under their marks) not only specify the products and services that will be offered by the franchisees (a person or company who is granted the license to do business under the trademark and trade name by the franchisor), but also provide them with an operating system, brand and support.” – Source: https://www.franchise.org/what-is-a-franchise
WHAT IS IT THAT WE ARE NOT DOING?
Every now and them we get someone shouting: “MEMA is a scam”, or claim that Mema is a Pyramid or Ponzi scheme.
We need to look for reasons why this will happen. One such reason might be the fact that there is not a clear understanding of how our business model really works. We live in an “era” of “information overload” and tend to scan and read stuff selectively, which will surely result in a reduction of understanding and decision quality.
There is a general and bad assumption that Mema and similar organizations are quick money making schemes. This is so far from the truth since this business, same as with all similar models, requires dedication, hard work and patience to become successful .
Another reason I often get, is the “Alternative Motive” reason. All I can say is: “Understand where the message is coming from.”
Is MEMA a Scam?
Let’s define what a scam is. The Cambridge dictionary says: “It’s an dishonest or illegal plan or activity for making money, especially one that involves tricking people” Source: https://dictionary.cambridge.org/dictionary/english/scam
For Mema to be judged to be a scam, Mema has to sell fake products, supply fake services and offer fake benefits.
Is MEMA a Pyramid Scheme?
We will not be asking for you to ‘donate’ funds to sponsor someone else’s ‘dream’, with the expectation that others will in turn ‘donate’ money to fund your dream.
“It’s like taking from Thabo and Tannie Susan to pay Peter. The only way this can work is if you recruit more people to ‘donate’ to keep funding the dreams of the people already in the system. This is a typical pyramid scheme, and will tumble as soon as the new recruits dry up. It might work for a year or even longer, but the longer it goes on, the bigger the impact will be on those who join last. It is a crash waiting to happen”. Source: https://www.iol.co.za/personal-finance/pyramid-scams-thriving-in-sa-1980769.
Is MEMA a Ponzi Scheme?
We don’t promise any return on investment by coming in early or any time for that matter. There’s therefore no process of paying old investors with the money that is coming in from new investors, which is typical what a Ponzi Scheme does.
“See, Ponzi Schemes aim is to hook investors who are willing to get in early on an once-in-a-lifetime business venture. The details of the investment don’t matter too much. What suckers people in, is the promise of fantastic returns on investments”. Source: https://money.howstuffworks.com/ponzi-scheme2.htm.
IS MEMA REGULATED?
Mema Affiliate Marketing (PTY) LTD comply and operate within the laws of South Africa, as require by the following statutory and regulatory institutions:
1.) The Companies and Intellectual Property Commission (CIPC ) of South Africa. (Reg. Number 2013/037623/07). Details about our registration, shareholder and directorship can be verified on the CIPC’s website: (https://eservices.cipc.co.za/Search.aspx).
2.) FSCA: Financial Sector Conduct Authority (FSCA), formally known as the Financial Services Board (FSB). Phillip Strydom, a director of Mema is currently registered as representative with the FSCA. As the current key person of Mema and registered representative, this registration authorize Mema to sell and provide certain insurance category services to the South African consumer.
You may verify my registration as a representative on the FSCA’s website (https://www.fsca.co.za/Fais/Search_FSP.htm):
- Enter the registration number “42421” into the “Search For FSP No” column.
- Click on “Details”.
- Click on “Representatives”
- Type “Phillip” in the search bar.
- “Phillip Strydom” will appear and you can verify the products I am registered for.
3.) DMSA: Mema is registered with Direct Marketing Association of South Africa (https://www.dmasa.org/). See certificate here: https://mema.co.za/dmasa-mema-affiliate-marketing-pty-ltd-certificate/
WE HAVE A ROAD MAP!
Our go-forward strategy will ensure the continuous growth for all stakeholders.
One such strategy is to increase our value proposition. A wider variety and selection of product, service and benefits will attract and cater for a broader audience, both locally and abroad.
To extend our support all around, we will introduce the Accredited Business Development (ABD) Program mid 2020. The goal of the ABD program is to add another layer of collaboration, support and training which will enhance the experience of customers and speed up the mobilization and success of our business partners.
Thank you for making time reading this article.
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