Safaricom has set up a money market fund that will be accessible through the M-PESA platform, making it convenient for subscribers to grow wealth through the capital markets.
Dubbed Ziidi Money Market Fund, the new investment scheme is a partnership between Safaricom and three fund managers, namely; Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited.
The Capital Markets Authority (CMA) has granted approval to establishment of Ziidi Money Market Fund.
Ziidi Money Market Fund, which is a Collective Investment Scheme, is expected to empower unit holders by offering accessible and diversified investment.
CMA Chief Executive Officer, Wyckliffe Shamiah, says the investment scheme enable Safaricom enhance its footprint in the finance services sector.