Safaricom announced the official launch of Ziidi MMF in collaboration with two fund managers, Standard Investment Bank and ALA Capital Limited.
The Product allows Customers to control, grow and manage their finances and wealth with free deposits and withdrawals via their M-PESA wallet.
Ziidi MMF is a unit trust, governed by the Capital Markets Authority (CMA) and managed by a group of fund managers. It enables consumers to earn interest by investing M-PESA wallet funds into the Ziidi account, with over KES 2.85 billion in assets under management since its public opening in December 2024.
This money market fund uses the ease of M-PESA to provide clients with a quicker, easier, and more intelligent way to invest and build wealth.
James Wangunyu, SIB’s Founder & Managing Director, said, “We are excited to partner with Safaricom as a fund manager for the Ziidi Money Market Fund. Our commitment to investors is that we will strive to offer them exceptional profits to help them achieve their financial goals. Based on our track record of providing above-market-average returns, I am confident in our ability to deliver this promise.”
“By combining our institutional synergies with Safaricom, we hope to provide an attractive investment portfolio, which will, in turn, enhance financial inclusion among low- and mid-income earners in line with the government’s bottom-up economic transformation agenda,” he added.
Ziidi MMF provides users with visibility into the daily interest rate gained, making investing and growing money straightforward, transparent, and worry-free. Customers can make free deposits to the Ziidi MMF account and withdrawals to their M-PESA wallets with as little as KES 100.
Also Read: Safaricom Launches M-PESA Powered Investment 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 for its investors. This solution ensures that every Kenyan can achieve their financial goals while enjoying the flexibility of managing their investments directly through their mobile devices,’ said Sean Gichuru, ALA’s Chief Investment Officer.
‘At ALA Capital, we believe that success is not just measured by financial returns but by the positive impact we create in our community and the world around us. We are humbled and honored to be a part of this historical journey that aims to provide a unique investment experience’, Mr. Gichuru added.
“Ziidi MMF is part of our continued efforts to diversify M-PESA beyond payments and deepen financial wellness. “Ziidi ni Ziidi” introduces the mindset that a little goes a long way, and any kind of growth is valuable. This empowers people to define prosperity on their terms and make wealth creation achievable to all,” said Dr. Peter Ndegwa, CEO of Safaricom PLC.
“As we launch Ziidi MMF, we are making an invitation to every Kenyan, irrespective of their financial standing, to take the first step towards wealth creation. Together, let’s embrace this responsibility and let Ziidi MMF be the catalyst for a future where every Kenyan has the means to wealth creation in their own way,” concluded Dr. Ndegwa.
Source: itnewsafrica.com
