Ziidi Money Market Fund Records 1 Million Customers in Two Weeks

Safaricom's newly launched Ziidi Money Market Fund (MMF) has surpassed one million customers just two weeks after its introduction.

Ziidi MMF, launched earlier this month, allows users to invest as little as KES 100 with no maximum limit, though transactions are subject to M-PESA's daily caps.

The platform offers competitive interest rates, with earnings calculated daily and the flexibility to deposit or withdraw funds at no cost.

The fund is managed by a consortium of financial firms, including Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited. It is regulated by the Capital Markets Authority (CMA), ensuring compliance with investment regulations.

Peter Ndegwa, CEO of Safaricom, lauded the rapid adoption of Ziidi, stating, “This milestone demonstrates the growing demand for accessible investment solutions among Kenyans. We remain committed to providing innovative financial services that empower our customers.”

The success of Ziidi highlights the increasing appetite for digital investment solutions in Kenya, with Safaricom leveraging its M-PESA platform to drive financial inclusion.