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Safaricom Gets CMA Nod for Ziidi Money Market Fund Launch via M-PESA

November 28, 2024
1 min read
Author: Aayushya Ranjan

CMA approved Safaricom’s Ziidi Money Market Fund, enabling M-PESA users to invest conveniently. Partnering with top fund managers, it supports Kenya’s financial inclusion strategy.

The Capital Markets Authority (CMA) has granted approval to Safaricom PLC to establish the Ziidi Money Market Fund, as a Collective Investment Scheme (CIS), marking another innovative step. The fund will be accessible through the M-PESA platform, making it convenient for subscribers to grow wealth through the capital markets.

Safaricom has partnered with three fund managers; Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited to offer the Ziidi Money Market Fund.

The CMA Chief Executive Officer, Mr. Wyckliffe Shamiah, said the milestone underscores the commitment to foster innovation which also enables Safaricom enhance its footprint in the finance services sector.

Ziidi Money Market Fund is expected to empower unit holders by offering accessible and diversified investment options as part of the broader National Government’s financial inclusion strategy.

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