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.
When Peter Chege founded TutorBot AI, he set out to close a gap that many…
President William Ruto has announced a KSh 80 million financial injection targeting informal sector artisans…
The High Court in Nairobi has found former Migori Governor Okoth Obado and two co-accused…
The High Court in Nairobi on Thursday delivered its verdict in the high-profile murder trial…
Lawyers across Kenya launched a nationwide boycott of court proceedings on Wednesday to protest systemic…
Spiro, Africa's leading electric mobility company, has published its inaugural Sustainability Report. The publication provides…