Safaricom has officially launched the Ziidi Money
Market Fund (MMF), the latest addition to its suite of M-Pesa offerings,
designed to bolster the mobile money platform’s service revenue as it marks 18
years.
This is the telco's second MMF after Mali, which was
unveiled in 2019.
Ziidi, which got regulatory approvals in November
last year, now has over Sh6 billion in funds, allowing contributions starting
from Sh100, with a daily limit of Sh500,000.
The Product allows Customers to control, grow and
manage their finances and wealth with free deposits and withdrawals via their
M-Pesa wallet.
Safaricom partnered with two fund managers, Standard
Investment Bank and ALA Capital, to bring the product to the market.
The unit trust enables customers to earn interest by
investing funds from their M-Pesa wallet into the Ziidi account.
The interest earned is accrued to the Ziidi wallet
daily, allowing the investor’s money to grow and, therefore, generate more
value.
"Since opening to the public in December 2024,
Ziidi money market fund has attracted over Sh6 billion assets under
management," Safaricom CEO Peter Ndegwa announced.
The fund is regulated by the Capital Markets Authority
(CMA) and managed by a pool of fund managers.
Ndegwa said that the launch speaks to Safaricom's
commitment to drive financial inclusion, making investments and wealth creation
simple and accessible to everyone.
“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 own
terms, and make wealth creation achievable to all,” Ndegwa said.
Customers can easily opt-in to Ziidi MMF on the M-Pesa
App or through USSD by dialing the short code *334*5#. Upon opting, customers can
immediately start investing.
It offers customers visibility of the daily interest rate earned, making investing and growing money simple, transparent, and worry-free.
