Nyaradzo Group has come under fire after its policies were explained online and were found to be ridiculously unjust.
Nyaradzo is a dynamic group of companies that provides financial, insurance, risk, and event management solutions. Anchored by three core principles, Service, Strength, and Solutions, Nyaradzo believes in exceeding each and everyone’s expectations.
In several tweets by one Alistar Nyamarai Chibanda, Nyaradzo stand accused of ripping off its clients and benefiting way more than the clients.
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| Nyaradzo Policies Are Daylight Robbery - Zimbabweans Calls For Nyaradzo To Revise Policies |
1/2 Instead of answering the questions @Nyaradzo_Group put an arrogant& pompous response. It would hv been wise for Nyaradzo Grp to answer the questions raised i.e cashbacks, policy maturity & that 3months lapse issue. Address those than to say its untrue. What's untrue? pic.twitter.com/aWDxp4bPps
— Alistar Nyamarai Chibanda (@alistarchibanda) October 20, 2022
Below is how Alistar explained Nyaradzo Pyramid Scheme:
1/2 Nyaradzo Funeral cover monthly premium is ZWL$12 771,15 =US$20.57Per year: US20.57 ×12 =US$246.84
Per 30 years: US$246.84 ×30= US$7405.20
If u died: coffin US$300, fuel US$500
Nyaradzo will use US$800 to bury u but iwe wakavapa US$7400 zvoreva kuti wabirwa US$6600 cash!
2/2 Ukasabhadhara subs for 3months& then wofa, zvatovharana havakuvige.
Am not saying don’t stop paying Nyaradzo. Some are comfortable nazvo.. so continue. But chandoziva ini hakuna munhu akafa akasavigwa, policy or no policy unovigwa chete.
1/2 Nyaradzo Funeral cover monthly premium is ZWL$12 771,15 =US$20.57
— Alistar Nyamarai Chibanda (@alistarchibanda) October 18, 2022
*Per year: US20.57 ×12 =US$246.84
*Per 30years: US$246.84 ×30= US$7405.20
If u died: coffin US$300, fuel US$500
Nyaradzo will use US$800 to bury u but iwe wakavapa US$7400 zvoreva kuti wabirwa US$6600 cash! pic.twitter.com/94dKNzX2sx
So you want companies to swallow up all my 10year payments of say US$9000 just because I defaulted for 3months? Just failing to pay say for example $50 for 3months will cause my $9000 premium to disappear? And you support that nonsense? Nxcaaaa supporter wega izvozvo! https://t.co/CcNbcweypm
— Alistar Nyamarai Chibanda (@alistarchibanda) October 20, 2022
What needs to be corrected must be corrected. These funeral policies like Nyaradzo have been going on for decades without having been challenged, so this generation is fighting for the reversal of bad policy conditions that deprive members.E.g We want cashbacks coz its our money! pic.twitter.com/rKC4jKReym
— Alistar Nyamarai Chibanda (@alistarchibanda) October 21, 2022
Whomever is handling social media for Nyaradzo Group must hate their CEO or hate poor Zimbabweans. pic.twitter.com/TimyXQfm3K
— Chipo Dendere (@drDendere) October 21, 2022
Ummm this is serious guys. 🥺😠https://t.co/nB1iZZTfc3
— Alistar Nyamarai Chibanda (@alistarchibanda) October 21, 2022
We need funeral policies that don't pose a high risk of losing all your paid up premiums after a long time of making payments religiously. See the example of @Nyaradzo_Group below 👇 pic.twitter.com/Sydutwu3dN
— Alistar Nyamarai Chibanda (@alistarchibanda) October 21, 2022
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