Safaricom’s newly launched Ziidi Money Market Fund (MMF) has achieved a remarkable milestone, attracting over one million customers within just two weeks of its introduction. The product, which allows users to save and invest with as little as Sh100, has quickly gained popularity, reflecting its appeal to a wide range of customers. According to Safaricom CEO Peter Ndegwa, the fund has already amassed over Sh6 billion in assets, signaling strong confidence from the public.
Ziidi, a unit trust product, enables customers to invest funds directly from their M-Pesa wallets, offering a seamless way to grow their savings. With a daily deposit limit of Sh500,000, the service caters to both small-scale savers and larger investors. Interest earned is accrued daily and credited to the Ziidi wallet, allowing users to watch their money grow over time. The fund also offers free deposits and withdrawals, making it an accessible and flexible financial tool for Kenyans.
The launch of Ziidi comes at a time when Safaricom is actively promoting financial inclusion and a savings culture in Kenya. Ndegwa emphasized the importance of cultivating savings habits, noting that the product democratizes access to investment opportunities. “We do not have a strong savings culture in this country, but this product is democratizing the ability to save and invest,” he said during a recent TV interview.
Ziidi’s success was further boosted by the introduction of MPesa @18, a campaign celebrating 18 years of M-Pesa, which attracted an additional 100,000 customers. The fund, which received regulatory approval in November 2024, is a collaboration between Safaricom and two fund managers—Standard Investment Bank and ALA Capital. It is regulated by the Capital Markets Authority (CMA), ensuring transparency and security for investors.
Ndegwa also encouraged small business owners to take advantage of the product, highlighting its potential to help them manage and grow their finances. As Ziidi continues to gain traction, it is poised to play a significant role in transforming Kenya’s savings and investment landscape, empowering individuals and businesses to achieve their financial goals.
