Safaricom has been given the green light by Kenya’s Capital Markets Authority to set up the Ziidi Money Market Fund, a game-changing innovation that will enable Kenyans to save and invest with competitive returns. Appropriately called “Ziidi,” which means “grow” in Kiswahili, the fund marks a significant step toward democratizing access to investment opportunities for millions of ordinary Kenyans.
Ziidi: A New Era for Digital Investments
The Ziidi Money Market Fund is the newest financial innovation by Safaricom, making it easy for Kenyans to earn competitive returns on their investments. Through M-Pesa, Ziidi cuts through the red tape of traditional banking to offer a secure, user-friendly, and inclusive digital-first platform.
Key Features of Ziidi:
- CMA Regulated: Ensures transparency and compliance with financial laws.
- Digital Convenience: Accessible via M-Pesa for seamless fund management.
- Broad Appeal: Targets both individuals and businesses seeking short-term investments.
CMA CEO Wycliffe Shamiah noted, “This initiative aligns with the national strategy for financial inclusion, offering accessible and diversified investment options for Kenyans.”
Key Features and Benefits of Ziidi Money Market Fund
1. Regulated and Secure
With CMA approval, Ziidi ensures compliance with Kenya’s financial regulations, offering users security and transparency in their investments.
2. Seamless Integration with M-Pesa
Users can easily access the fund through M-Pesa, allowing for hassle-free deposits, withdrawals, and account management directly from their mobile phones.
3. Broad Appeal
Ziidi is designed to cater to a diverse audience, including individual savers, small businesses, and organizations looking for short-term investment solutions.
4. Backed by Leading Financial Institutions
Safaricom has partnered with Standard Investment Bank, ALA Capital Limited, and Sanlam Investments East Africa Limited to ensure professional management of the fund.
Building on M-Pesa Mali's Legacy
Ziidi is the second major foray by Safaricom into mobile-based savings and investments, after M-Pesa Mali. Through Ziidi, Safaricom further pushes the frontier on financial inclusion through the provision of a regulated and diversified investment opportunity that is accessible to all.
Comparison Between Ziidi and M-Pesa Mali:
| Feature | Ziidi | M-Pesa Mali |
|---|---|---|
| Regulation | CMA Approved | Limited Regulation |
| Accessibility | M-Pesa Integration | M-Pesa Integration |
| Target Audience | Individuals & Businesses | Individual Savers |
Promoting Financial Inclusion and Innovation
In launching Ziidi, Safaricom reiterates its commitment to financial inclusion and innovation in Kenya. The fund not only expands Safaricom’s portfolio in the financial services space but positions the company as a leading Fintech player in East Africa. Through Ziidi, Kenyans are given a simple way to save, invest, and grow their wealth in a secure, regulated environment.
The introduction of the Ziidi Money Market Fund presents a milestone leap in the Kenyan financial perspective. Safaricom continues to innovate by offering tools that bridge gaps in financial inclusion and offer more accessible investment opportunities.
Is it time to grow your wealth with Ziidi? Keep up to date on Safaricomas Safaricom readies this paradigm-shifting platform.