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0 News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/safaricom-launches-ziidi-money-market-fund-to-boost-financial-inclusion-in-kenya/
Safaricom has officially launched the Ziidi Money Market Fund (MMF) in partnership with Standard Investment Bank (SIB) and ALA Capital Limited, marking a significant step towards promoting financial inclusion and wealth creation in Kenya.
The innovative fund allows customers to invest directly from their M-PESA wallets, offering a seamless and accessible way for individuals to manage and grow their finances.
The Ziidi MMF, which is a unit trust regulated by the Capital Markets Authority (CMA) and managed by professional fund managers, allows users to earn interest by investing their funds from M-PESA into a Ziidi account. Since its launch in December 2024, the fund has already accumulated over $19.4 million in assets under management.
With a low minimum deposit of just $0.68, the Ziidi MMF is designed to be inclusive, allowing individuals from all income levels to participate. It also offers real-time visibility of the daily interest earned, providing a transparent and straightforward investing experience.
Dr. Peter Ndegwa, CEO of Safaricom, highlighted the fund’s importance in diversifying M-PESA beyond payments. “Ziidi MMF is part of our continued efforts to diversify M-PESA beyond payments and deepen financial wellness,” he said. “Ziidi ni Ziidi introduces the mindset that a little goes a long way, empowering people to define prosperity on their terms.”
James Wangunyu, Managing Director of SIB, emphasized the fund’s potential to offer above-market-average returns. “We are excited to partner with Safaricom as a fund manager for the Ziidi Money Market Fund,” he said, committing to exceptional returns for investors.
Sean Gichuru, Chief Investment Officer at ALA Capital, expressed pride in contributing to financial inclusion. “At ALA Capital, we believe success is measured not just by financial returns but by the positive impact we create in our community,” he said.
Ziidi MMF aligns with Kenya’s bottom-up economic transformation agenda, focusing on enhancing financial inclusion, particularly for low- and middle-income earners. By leveraging Safaricom’s vast mobile network, the fund aims to make wealth creation accessible to all Kenyans, regardless of their financial background.
Dr. Ndegwa invited all Kenyans to embrace this new opportunity, stressing that Ziidi MMF is a catalyst for a future where everyone can build wealth in their own way. As Safaricom continues to innovate in the financial sector, the Ziidi MMF represents a major step forward in promoting long-term financial growth for the nation.
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/safaricom-launches-ziidi-money-market-fund-to-boost-financial-inclusion-in-kenya/
