CMA Approves Safaricom’s Ziidi Money Market Fund
Safaricom CEO Peter Ndegwa. [Photo/Safaricom]
The Capital Markets Authority (CMA) has approved Safaricom PLC’s establishment of the Ziidi Money Market Fund as a Collective Investment Scheme (CIS).
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, 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.
