CMA approves the Ziidi Money Market Fund from Safaricom

Following this announcement, the fund is set to be accessible through the M-PESA platform, a process that will make the product convenient for subscribers to grow wealth through the use of capital markets. 

In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. 

More information on the Ziidi Money Market Fund approval

The Capital Markets Authority (CMA) is charged with the responsibility of both regulating and developing orderly, fair, and efficient capital markets in the region of Kenya, with the view of promoting market integrity and investor confidence as well. At the same time, the company also regulates the commodity markets and online forex trading. 

Throughout this initiative, Safaricom has partnered with three fund managers, including Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited, in order to offer the Ziidi Money Market Fund to its customers and collaborators in a secure and efficient manner.

According to officials of the company, this approval represents an important step in the company’s commitment to fostering innovation and development, a process that also enables Safaricom to optimise its footprint in the overall finance services sector. 

At the same time, the Ziidi Money Market Fund is expected to optimise the manner in which unit holders develop by providing them with accessible and diversified investment options as part of the broader National Government’s financial inclusion strategy.