A SOUTH African holding company with interests in finance, mining, energy and telecommunications has forayed into the Lesotho market with a bias towards young people.
The Zillionaire Group of companies is owned by young businessman Vukile “Zillionaire’ Manzi from South Africa, who told the Lesotho Times this week he is still under 30 years of age.
He said the group consists of 13 companies specialising in events management, modelling, auditing, tourism and travel, consulting and marketing, an international forex institute, spa and wellness, footwear, property, among others.
On why he decided to expand his business to Lesotho, Mr Manzi said he fell in love with the Mountain Kingdom and its people, adding he was looking forward to unearthing many business opportunities in the country.
Barely a month operating in Lesotho, Zillionaire Group has already attracted interest through its foreign exchange subsidiary Zillionaire International Forex Institute. The subsidiary is training people on how to trade in foreign exchange (forex).
Mr Manzi said forex trading was “a hidden secret” from black people, yet it was a lucrative endeavour.
He said forex trading was a form of betting on the anticipated changes in the exchange rates between different currencies.
“Forex trading is still hidden to many black people. In forex trading, we are betting on the anticipated movement in the exchange rates between different currencies,” he said.
“You can buy when there is an anticipated upward movement in the exchange rates, and likewise you can sell when there is an anticipated downward movement in the exchange rates.”
Mr Manzi said many people were unsuccessful in forex trading because they didn’t understand how the process worked.
“At Zillionaire International Forex Institute, we impart those skills through training,” he said.
“We are currently training close to 200 people on forex trading in a practical course that takes six months to complete.”
Mr Manzi, who is carrying out the training himself, said when done well, forex trading could yield more returns than many other conventional investments avenues. He said forex trading also contributed to economic growth.
“I like the passion and enthusiasm that I have seen among most of my students here in Lesotho who are showing an eagerness to start trading,” he said.
The company’s subsidiary, Zillionaire Marketing, is promoting MoFaya Premium Energy Drink, a South African product created by businessman and media personality DJ Sbu.
The company partners with MoFaya Beverage Company to promote and distribute the drink around Lesotho and the rest of the continent.
Mr Manzi said the group was also looking forward to partnering with local investors who were passionate about business. He said they had lined up a beauty pageant in which the first prize would be a car, adding plans were afoot to launch a cell phone brand later this year.