Kenya’s leading telco, Safaricom, has officially unveiled its second money market fund, Ziidi MMF, following regulatory approval from the Capital Market Authority (CMA) in November 2023.
The product is introduced in partnership with two fund managers, Standard Investment Bank and ALA Capital Limited.
Ziidi MMF leverages the seamless convenience of M-PESA, offering customers a smart, fast, and simple way to invest and grow their wealth.
As a unit trust, Ziidi MMF enables customers to earn daily interest by transferring funds from their M-PESA wallets into their Ziidi accounts.
Interest accrues daily in the Ziidi wallet, ensuring continuous growth and added value for investors.
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Since its public launch in December 2024, the money market fund has seen remarkable uptake, attracting over 450,000 customers and managing assets worth over $22.2 million (KES 2.85 billion).
“Ziidi MMF is part of our commitment to diversifying M-PESA beyond payments and promoting financial wellness,” said Safaricom PLC CEO, Dr. Peter Ndegwa.
“‘Ziidi ni Ziidi’ emphasizes that even small steps can lead to significant growth, empowering Kenyans to define prosperity on their terms and make wealth creation accessible to everyone.”
While there is no maximum investment limit, M-PESA transaction caps apply: a daily limit of $3,900 (KES 500,000) and a per-transaction limit of $1,900 (KES 250,000).
Ziidi MMF also prioritizes flexibility, offering free deposits into the Ziidi account and hassle-free withdrawals back to M-PESA wallets. This ensures customers can manage their funds according to their financial needs.
“As we launch Ziidi MMF, we invite every Kenyan to take the first step towards wealth creation. This platform empowers individuals, regardless of their financial status, to shape their own financial futures,” added Dr. Ndegwa.
Safaricom also aims to introduce more innovative solutions to cater to the diverse needs of its customers, enhancing financial security and health.
Customers can join Ziidi MMF easily via the M-PESA App or by dialing 3345#. Once registered, they can begin investing immediately.
