Safaricom has received approval from Kenya’s Capital Market Authority(CMA) to set up the zidii Money market fund. This financial investment is designed to enable Kenyans to save and invest while earning competitive returns. The fund, named ” Ziidi”, signifies a stride democratizing access to investment opportunities. It aims to empower ordinary Kenyans by offering a straightforward, reliable means to grow wealth.
Ziidi is poised to be a platform where users can deposit funds and earn interest, similar to traditional money market funds. Leveraging Safaricom’s widely used M-Pesa platform, the fund aims to provide a simple, digital-first investment option accessible to millions of Kenyans.
CMA Chief Executive Officer Wycliffe Shamiah emphasized the importance of the fund in fostering innovation and enhancing Safaricom’s footprint in financial services. “This initiative aligns with the national strategy for financial inclusion, offering accessible and diversified investment options for Kenyans,” he said
Safaricom’s vision for Ziidi is backed by partnerships with leading financial institutions. Fund management will be overseen by Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited.
The fund builds on Safaricom’s financial solution’s portfolio. This follows the success of earlier ventures like M-Pesa Mali, which paved the way for mobile-based savings and investment tools in Kenya.
Key benefits of Ziidi Money market funds
Regulated and Secure: Approval by the CMA ensures Ziidi complies with Kenya’s financial regulations, offering users security and transparency.
Seamless Access via M-Pesa: Users will likely access the fund through M-Pesa, enabling hassle-free transactions and fund management.
Target Audience: Ziidi is expected to appeal to a wide demographic, from everyday savers to businesses seeking short-term investment options.
By eliminating traditional banking barriers, the fund promotes broader participation in the financial markets.
The introduction of Ziidi reinforces Safaricom’s mission to drive financial inclusion through innovation. This move not only diversifies Safaricom’s revenue streams but also positions it as a dominant player in East Africa’s growing fintech landscape. By integrating investment opportunities with its mobile ecosystem, Safaricom is set to redefine how Kenyans save, invest, and grow wealth.
