Ziidi MMF: After receiving regulatory approval from the country’s Capital Market Authority (CMA) in November last year to launch its second money market fund, Kenya’s leading telco Safaricom has officially launched the product.
Known as Ziidi MMF, the product has been launched in partnership with two fund managers; Standard Investment Bank and ALA Capital Limited.
The money market fund leverages the convenience of M-PESA to give customers a simple, faster and smarter way to invest and grow wealth.
Ziidi MMF is a unit trust enabling customers to earn interest by investing funds from their M-PESA wallet into the Ziidi account. The interest earned is accrued to the Ziidi wallet daily – allowing the investor’s money to grow and therefore generate more value.
Since opening to the public in December 2024, Safaricom says Ziidi money market fund has attracted over four hundred and fifty thousand opt-ins with over $22.2M (KES 2.85 billion) assets under management.
“Ziidi MMF is part of our continued efforts to diversify M-PESA beyond payments and deepen financial wellness. “Ziidi ni Ziidi” introduces the mindset that a little goes a long way, and any kind of growth is valuable. This empowers people to define prosperity on their own terms, and make wealth creation achievable to all,” said Dr. Peter Ndegwa, CEO Safaricom PLC.
While there is no maximum investment limit in Ziidi MMF, the daily M-PESA transaction limit of $3.9K (KES 500,000) and the per-transaction limit of $1.9K (KES 250,000) will apply.
Recognising the importance of flexibility, Ziidi MMF offers customers free deposits to the Ziidi MMF account and withdrawals into their M-PESA wallets, allowing users to manage their funds according to their financial needs.
“As we launch Ziidi MMF, we are making an invitation to every Kenyan, irrespective of their financial standing, to take the first step towards wealth creation. Together, let’s embrace this responsibility and let Ziidi MMF be the catalyst for a future where every Kenyan has the means to wealth creation in their own way,” added Dr. Ndegwa.
In addition to the Ziidi Money Market Fund, Safaricom says it plans to innovate and build more solutions that cater to the varied needs of the customers all to ensure financial health and security.
Customers can easily opt-in to Ziidi MMF on the M-PESA App or through USSD by dialling the short code *334*5#. Upon opt it, customers can immediately start investing.
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