More than 450,000 Kenyans have invested over KSh 2.8 billion in Safaricom’s newly launched Money Market Fund (MMF) product, Ziidi, within its first month of operation.
The investment platform, which operates through the widely-used M-Pesa mobile money service, received regulatory approval from the Capital Markets Authority (CMA) in late 2024.
The telecommunications giant has established this innovative financial service through strategic collaborations with Standard Investment Bank (SIB) and ALA Capital Limited, marking a significant expansion of Safaricom’s financial services portfolio.
In partnership with Standard Investment Bank and ALA Capital, we officially launched the Ziidi Money Market Fund (MMF), offering you a seamless way to invest and grow your wealth directly from your M-PESA wallets. With over 450,000 opt-ins and KES 2.85 billion in assets under… pic.twitter.com/sssRxrEm8b
— Safaricom PLC (@SafaricomPLC) January 21, 2025
Also Read:
Best Money Market Funds in Kenya
CIC Insurance and Braeburn Schools Job Vacancies
Official Launch and Performance
During the official launch ceremony on Tuesday, January 21, Safaricom CEO Peter Ndegwa shared the platform’s early success metrics. The product, which seamlessly integrates with M-Pesa’s infrastructure, has demonstrated strong market acceptance since its December 2024 debut. He said,
“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.”
How to Register for and Use Ziidi MMF
The Ziidi MMF operates as a unit trust, allowing customers to earn daily accrued interest on investments made from their M-Pesa wallets. Here is how to register for Ziidi MMF:
– Access the service through the M-Pesa App or USSD code 3345#
– Operate within daily transaction limits of KSh 500,000
– Process individual transactions up to KSh 250,000
– Make deposits and withdrawals without fees
– Lock funds to prevent impulsive withdrawals
– Start investing with as little as KSh 100
How to Access Safaricom Ziidi using M-Pesa App:
How to Access Safaricom Ziidi using USSD Code *334#
Vision for Financial Inclusion
Emphasizing the platform’s broader mission, Ndegwa concluded:
“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.”
