In an exciting move that could change the landscape of personal finance and investment for millions of Kenyans, Safaricom has partnered with Standard Investment Bank (SIB) and ALA Capital Limited to unveil the Ziidi Money Market Fund (Ziidi MMF).
This initiative, powered by M-PESA, aims to simplify the investment process, making it accessible and manageable for all Kenyans, regardless of their financial standing.
Launched in December 2024, the Ziidi MMF has already captured the interest of over 450,000 customers, managing over KES 2.85 billion in assets. The fund is designed as a unit trust, which means that customers can invest their M-PESA wallet balances into the fund and earn interest. As with all great financial innovations, Ziidi MMF focuses on simplicity, transparency, and accountability.
The beauty of the Ziidi MMF lies in the ability to turn even the smallest amount of money into an opportunity for wealth creation. With the slogan “Ziidi ni Ziidi” (“A little goes a long way”), Safaricom promotes a mindset that encourages everyone to take the first step towards financial independence, regardless of their initial investment amount.
The fund requires KES 100 to opt in, making it a viable option for low- and middle-income earners who may have been previously excluded from other investment avenues.
A Partnership for the People
Safaricom’s collaboration with Standard Investment Bank (SIB) and ALA Capital Limited brings together institutional expertise in fund management, backed by the mobile network’s vast reach. The aim is clear: empower Kenyans by offering them a smarter, faster, and more accessible way to manage their finances.
According to Dr. Peter Ndegwa, CEO of Safaricom, “Ziidi MMF is part of our continued efforts to diversify M-PESA beyond payments and deepen financial wellness.” The initiative speaks to Safaricom’s broader vision of promoting financial inclusion by removing barriers to investment and providing all Kenyans with the tools to manage their wealth on their own terms.
How Does Ziidi MMF Work?
The process is refreshingly simple: Customers can easily opt into the Ziidi MMF via the M-PESA app or by dialing *334*5# on their mobile phones. Once they opt in, their funds are automatically transferred to the Ziidi MMF account, where they start earning interest. The interest is credited daily, allowing the investment to grow steadily over time.
One of the most significant advantages of Ziidi MMF is the ability to deposit and withdraw funds freely without incurring additional costs. Safaricom ensures that the process is both convenient and flexible, allowing users to manage their investments according to their financial needs.
Whether you’re looking to make short-term investments or save for the long haul, the flexibility of Ziidi MMF caters to all.
In addition, the fund is transparent, with users able to monitor their daily interest earnings directly via the M-PESA app.
Investors can withdraw their funds at any time, giving them full control over their money. However, if they wish to lock their funds and avoid unplanned withdrawals, they can do so, adding another layer of convenience and security.
While there is no upper limit on investments, the daily M-PESA transaction limit of KES 500,000 and the per-transaction limit of KES 250,000 apply, ensuring that all transactions are within manageable thresholds.
A Bright Future for Wealth Creation
Ziidi MMF is more than just an investment product; it’s a reflection of Safaricom ongoing commitment to innovation, financial wellness, and empowerment.
James Wangunyu, Founder and Managing Director of SIB, emphasized the firm’s dedication to offering exceptional profits, stating, “Based on our track record of providing above-market-average returns, I am confident in our ability to deliver this promise.” This statement reassures potential investors that the fund is managed with their best interests at heart, ensuring financial growth for all.
Sean Gichuru, Chief Investment Officer at ALA Capital, also echoed this sentiment, adding that the partnership with Safaricom will enhance financial inclusion, particularly for low- and mid-income earners.
This aligns with the government’s bottom-up economic transformation agenda, which seeks to empower every Kenyan to participate in the economy.
Safaricom’s launch of the Ziidi Money Market Fund is a bold step towards transforming the financial landscape in Kenya. By combining the convenience of M-PESA with professional fund management expertise, Safaricom has created a platform that allows every Kenyan, no matter their income level, to begin their wealth creation journey. With Ziidi MMF, financial inclusion is no longer a dream; it’s a reality, and it’s here to stay.
