Sharp Daily
No Result
View All Result
Sunday, August 31, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Ndovu fintech receives approval to launch Money Market Fund

Christine Akinyi by Christine Akinyi
March 8, 2024
in News
Reading Time: 2 mins read

Ndovu, a fintech startup, has garnered approval from the Capital Markets Authority (CMA) to launch a money market fund. This achievement signifies a pivotal advancement for Ndovu, underscoring its dedication to democratizing investment avenues and enabling individuals to enhance their wealth.

Operating under the auspices of fund manager and wealth-tech startup Waanzilishi Capital Kenya Limited, Ndovu has been granted the necessary authorization by the CMA to introduce a money market fund.

This regulatory endorsement not only reflects confidence in Ndovu’s operations but also underscores its commitment to upholding the highest standards of compliance and transparency.

Teaming up with Zimele Asset Management Limited, Ndovu endeavors to deliver innovative investment products to its clientele.

RELATEDPOSTS

Navigating the money market and fixed income funds landscape

June 3, 2025

Celebrate women this International Women’s Day with a smart investment boost

March 7, 2025

The money market fund will primarily invest in short-term instruments like treasury bills and fixed deposits, providing investors with an avenue to access appealing returns within a relatively low-risk investment framework.

This strategic move positions Ndovu as a significant player in Kenya’s burgeoning money market fund sector, which currently features 39 funds managed by 36 collective investment schemes (CIS).

Money market funds have emerged as a preferred choice among retail investors due to their competitive returns, ease of entry, and liquidity features, rendering them an attractive investment option for individuals seeking to augment their wealth.

According to the Quarterly CIS Report-Q4’2023 by CMA, the overall Assets under Management (AUM) of unit trust funds witnessed a 4.1% quarter-on-quarter growth to KES 215.1 billion at the end of FY’2023, up from KES 206.7 billion recorded in Q3’2023.

On a year-on-year basis, the total AUM surged by 33.6%, from KES 161.0 billion as of the end of FY’2022. Money market funds, constituting 65.5% of the unit trusts market, commanded an asset base of KES 140.7 billion as of December 2023, underscoring their dominance in the investment landscape.

Established in 2021, Ndovu has emerged as a digital investment platform catering to the needs of both local and global investors.

Apart from offering investment opportunities, Ndovu provides expert financial advice to its clients, ensuring informed decision-making in their wealth-building endeavors.

Regulated by the CMA via a fund management license, Ndovu operates with a commitment to transparency, integrity, and client-centric service delivery.

The approval to launch a money market fund further cements Ndovu’s position as a key player in Kenya’s fintech ecosystem, poised to foster financial inclusion and wealth creation across the African continent.

As Ndovu gears up to introduce its money market fund, investors can anticipate accessing a diverse array of investment opportunities tailored to their financial objectives, underpinned by principles of innovation, transparency, and inclusivity.

With this recent milestone, Ndovu reaffirms its pledge to revolutionize the investment landscape and empower individuals to attain financial prosperity.

Previous Post

Banking sector faces crisis amid rise of non-performing loans

Next Post

Stanbic PMI highlights potential growth in business sector

Christine Akinyi

Christine Akinyi

Related Posts

News

Kick financial goals: Invest with CMMF this football season

August 22, 2025
commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025

LATEST STORIES

The Importance of Including Pension Plans in Corporate Benefits Packages

August 29, 2025

The informal labor market and classical unemployment in the Kenyan context

August 28, 2025

Kenya’s Eurobond yields ease after S&P rating upgrade

August 28, 2025

Kenya’s strategic debt pivot: Smoothing, Strengthening, Sustaining

August 27, 2025

Bank on your paycheck: Invest smart with CMMF

August 26, 2025

Finding Balance: My Journey with Internet Self-Care

August 22, 2025

Why Young Kenyans Cannot Afford to Ignore Private Pensions

August 22, 2025

Strategies for Nairobi to emerge as Africa’s financial hub

August 22, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024