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Top 10 Money Market Funds in Kenya – Weekly Performance Update (January 24, 2025)
The Kenyan Money Market Funds (MMFs) continue to offer competitive returns, with notable movements in rankings compared to the previous week. This update provides key insights into the top-performing funds and new market trends.
Key Market Changes This Week
📍 Cytonn MMF retains its position as the top-performing fund, maintaining a 16.50% effective annual rate (EAR).
📍 Dry Associates MMF re-enters the top 10, replacing Absa and Madison MMFs.
📍 Sanlam MMF makes its debut in the top 10, reflecting growing competition in the sector.
📍 Etica MMF slips from 4th to 6th place, with a slight decrease in its EAR from 15.8% to 15.3%.
Spotlight on Ziidi Money Market Fund
One of the most widely discussed new entrants in Kenya’s MMF space is the Ziidi Money Market Fund. Launched by Safaricom in partnership with Standard Investment Bank and ALA Capital, Ziidi MMF leverages M-PESA’s convenience to offer a seamless investment experience.
Ziidi MMF Performance Trends:
✔ 17th January 2025: Ranked 19th at 12.9% EAR
✔ 24th January 2025: Dropped to 25th at 11.7% EAR
Despite its decline in yield, Ziidi MMF has already attracted over 450,000 investors and amassed KES 2.85 billion in assets under management. With free deposits and withdrawals via M-PESA and a low entry requirement of KES 100, Ziidi remains an appealing choice for retail investors.
Top 10 Money Market Funds in Kenya (24th January 2025)
| # | Money Market Fund | Effective Annual Rate (%) |
|---|---|---|
| 1 | Cytonn Money Market Fund | 16.50% |
| 2 | Gulfcap Money Market Fund | 16.30% |
| 3 | Lofty-Corban Money Market Fund | 15.70% |
| 4 | Ndovu Money Market Fund | 15.50% |
| 5 | Kuza Money Market Fund | 15.30% |
| 6 | Etica Money Market Fund | 15.30% |
| 7 | Mali Money Market Fund | 15.20% |
| 8 | Dry Associates Money Market Fund | 13.70% |
| 9 | Orient Kasha Money Market Fund | 13.60% |
| 10 | Sanlam Money Market Fund | 13.50% |
🔹 Source: Business Daily
Key Takeaway for Investors
- Money Market Funds continue to provide competitive returns, making them an attractive option for low-risk investors.
- The entry of new funds like Sanlam and the re-entry of Dry Associates show increased competition and market dynamics.
- Ziidi MMF’s rapid adoption highlights a growing trend of mobile-based investment solutions in Kenya.
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