Witchcraft is pervasive in all African societies including Tiv society. However, the ramifications of this practice to business and investment are ignored by researchers and government. This study was carried out in order to investigate the effects of witchcraft one business and investment in Tivland. The study was guided by Weber’s theory of Protestant Ethics and Spirit of Capitalism. The study used a case study design while a purposive and snowball sampling techniques were utilized to select Key informants. Key informant Interview was used to collect data while Data analysis involved the use summarization and transcription of the responses. The study discovered that witchcraft has both direct and indirect consequences on business and investment in Tivland. The study also concluded that witchcraft affected business investment in attacks on life and businesses of or community family members who are perceived to be successful business people; prohibition of witches from engaging in business activities, fear of being exposed to evil attacks from witches which scares from investing and use of witchcraft as a scapegoat for not investing in business. The study also found that witchcraft has negative influence on business investment and development in Tivland. This study therefore confirms the Max Weber’s theory that religious ideas and practices are highly connected to entrepreneurship. The study recommends for Word of God in overcoming witchcraft and consideration of witchcraft beliefs in efforts to boost business and investment in rural communities in the study area.