Sharp Daily
No Result
View All Result
Saturday, June 7, 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

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025
Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025
News

Leadership challenges at the University of Nairobi

April 24, 2025
News

Easter eggs and earnings: Growing your nest egg with CMMF

April 16, 2025
News

Geoffrey Ruku declares KES 377M net worth during CS vetting

April 15, 2025

LATEST STORIES

How Kenya’s E-Mobility shift could redefine urban planning

June 5, 2025

Economic liberators are the real heroes and heroines of the year

June 5, 2025

Affordable retirement planning for small businesses with CURBS

June 5, 2025

How Kenyan banks can modernize without marginalizing

June 4, 2025

Human rights concerns over activists’ treatment in Tanzania

June 4, 2025

Decoding stock-based compensation

June 4, 2025

Comparative advantage is the secret to real economic take off

June 4, 2025

Understanding inflation and its impact on everyday life

June 4, 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