Safaricom has rolled out a new money market fund, Ziidi MMF, in collaboration with Standard Investment Bank (SIB) and ALA Capital Limited.

The initiative is designed to simplify the process of investing and wealth creation for Kenyans, allowing customers to use their M-Pesa wallets to invest in the fund, making financial growth accessible to a broader audience.

Launched in December 2024, the fund has quickly garnered attention, attracting over 450,000 participants and managing assets worth Sh2.85 billion.

The fund is regulated by the Capital Markets Authority (CMA), with Safaricom positioning it as a solution for the increasing demand for accessible investment opportunities.

The Ziidi MMF offers a user-friendly approach, enabling customers to easily invest by opting in via the M-Pesa App or by dialling 3345#.

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Once enrolled, funds from the M-Pesa wallet are transferred into the Ziidi account, where the interest earned is credited daily, allowing the invested money to grow.

While there is no upper limit on the amount that can be invested, customers are still subject to M-PESA’s daily transaction cap of Sh500,000 and a per-transaction limit of Sh250,000.

The investment is flexible; deposits are free, and customers can make withdrawals into their M-Pesa wallets at any time.

With a minimum investment of just Sh100, the fund is accessible to nearly everyone, regardless of their financial status.

Peter Ndegwa, CEO of Safaricom, shared that the launch of the Ziidi MMF aligns with the company's broader goal to diversify M-PESA beyond payments.

"Ziidi MMF is part of our continued efforts to diversify M-PESA beyond payments and deepen financial wellness," Ndegwa explained, adding that the fund encourages the mindset that "a little goes a long way," making it clear that small, steady growth is just as valuable as larger investments.

Fund managers have also expressed their commitment to ensuring Ziidi MMF's success.

James Wangunyu, the founder and managing director of SIB, underscored their focus on delivering competitive returns for investors: "Our commitment to investors is that we will strive to offer them exceptional profits to help them achieve their financial goals."

Wangunyu also emphasized the importance of collaboration with Safaricom to promote financial inclusion, particularly among low- and middle-income earners.

ALA Capital’s Chief Investment Officer, Sean Gichuru, reinforced the long-term value proposition of the fund.

"Ziidi MMF represents not just an opportunity for financial growth, but also a reflection of Safaricom’s commitment to innovation, responsible investing, and creating long-term value to its investors," Gichuru said, highlighting the flexibility the fund offers in managing investments via mobile devices.

In addition to Ziidi MMF, Safaricom has plans to introduce more financial solutions in the coming months, aimed at enhancing the financial security and well-being of their customers.

The goal is to continue innovating in a way that supports financial inclusion and empowers Kenyans to achieve their financial goals in a way that fits their individual needs.