Safaricom, Kenya’s leading telecommunications company, is set to expand its financial services with the launch of its second money market fund, Ziidi. The product, approved by the Capital Markets Authority (CMA), is designed to cater to the growing demand for accessible digital investments in Kenya.
Ziidi, a partnership between Safaricom, Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited, will leverage Safaricom’s extensive network to reach unbanked and underbanked Kenyans. This aligns with the government’s financial inclusion strategy.
The new fund aims to compete with traditional financial institutions by offering a low-risk investment option with competitive returns. Ziidi will invest in government securities like bonds and Treasury bills, providing a stable and secure avenue for savings.
Safaricom’s first money market fund, Mali, has already garnered significant success, with its asset base reaching KES 3 billion in November 2024. Ziidi is expected to build on this momentum and further solidify Safaricom’s position as a leading provider of financial services in Kenya.
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