Safaricom PLC has secured approval from the Capital Markets Authority (CMA) to launch the Zidi Money Market Fund, a Collective Investment Scheme (CIS) designed to broaden investment opportunities for Kenyans. Integrated with Safaricom’s M-PESA platform, the fund aims to make wealth creation accessible to a wider population by leveraging Safaricom’s digital reach.
Safaricom has partnered with Standard Investment Bank, AIA Capital Limited, and Sanlam Investments East Africa Limited to deliver the fund. The initiative aligns with the government’s financial inclusion strategy, empowering users with affordable and diversified investment options.
CMA Chief Executive Officer Wyckliffe Shamiah lauded the development, calling it “a milestone that underscores the commitment to fostering innovation, which also enables Safaricom to enhance its footprint in the financial services sector.”
The Zidi Money Market Fund is expected to benefit retail investors and small businesses, bridging a critical gap in Kenya’s capital markets. By offering access to a structured and secure investment platform, it seeks to democratize financial services and reduce barriers to entry. “This innovative fund will empower unit holders by offering accessible and diversified investment options,” Shamiah added.
The partnership with M-PESA allows the fund to deliver seamless integration with Kenya’s most popular mobile money platform. The fund’s accessibility through M-PESA further solidifies Safaricom’s role in enhancing financial inclusion. This initiative marks Safaricom’s growing involvement in the investment space, building on its history of using technology to solve financial challenges.
The CMA emphasized the fund’s alignment with its regulatory mandate. “The authority remains committed to promoting orderly, fair, and efficient capital markets in Kenya,” Shamiah said. “Through innovations like this, we aim to protect investors while fostering trust and confidence.”
