Launched barely one month ago, Safaricom PLC’s Ziidi Money Market Fund, powered by MPESA, has accumulated Sh2.85 billion in assets quickly attracting over 450,000.
The initiative which is managed in partnership with Standard Investment Bank and ALA Capital Limited, allows M-PESA users to earn daily interest on their investments. A money market fund professionally manages a pool of money from various investors.
READ MORE: Safaricom Unveils Ziidi Money Market Fund Powered By M-PESA
Depending on how well the scheme is doing given the state of the market, the investors receive interest every day. The fund operates within M-PESA’s existing transaction limits of Sh500,000 daily and Sh250,000 per transaction, representing Safaricom’s strategic expansion beyond payment services into investment products.
CEO Peter Ndegwa frames Ziidi MMF as part of the company’s broader initiative to promote financial wellness, with SIB Founder James Wangunyu emphasizing the fund’s potential to deliver competitive returns while supporting Kenya’s financial inclusion goals through the bottom-up economic model.
Safaricom’s best chance to grow as the telco business matures is digital finance. Safaricom should fully transform into a CBK-Iicensed digital bank. Zidi is another step toward capital market democratization. Thanks to Safaricom’s collaboration and partnerships, money market fund investing is now simple and safe for everyone.
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