Across Kenya, more people are discovering the importance of aligning their money with their values. For Muslim investors, that means finding opportunities that provide solid returns without violating Islamic principles.
The Ziidi Shariah Money Market Fund (ZSMMF), powered by Safaricom and managed by Genghis Capital, is one such opportunity.
This fund is part of the broader Ziidi Investment platform on M-PESA, offering a simple, digital, and fully Shariah-compliant way to grow your money. It caters to investors who seek steady growth, liquidity, and above all, ethical investing guided by faith.
As of June 2025, the Ziidi Unit Trust Scheme reported a total Assets Under Management (AUM) of Ksh 10.22 billion, representing a remarkable 39% quarterly growth.
The Ziidi Shariah Money Market Fund—a specialized sub-fund—recorded an AUM of Ksh 1.43 million, marking its emergence as Kenya’s newest Shariah-compliant retail fund under the Capital Markets Authority (CMA) oversight.
Understanding the Ziidi Shariah Money Market Fund
What It Is
The Ziidi Shariah Money Market Fund is a short-term, low-risk investment product that invests exclusively in Halal financial instruments approved by a certified Shariah Supervisory Board.
Unlike conventional money market funds that earn returns from interest (riba), this fund generates profit through permissible business activities such as trade, leasing, and profit-sharing agreements.
In simple terms, the Ziidi Shariah Fund allows investors to earn income in a Halal and transparent way, while still enjoying the same stability and liquidity that traditional MMFs offer. It is an ethical and faith-based alternative to conventional savings and fixed deposit options.
Who Manages the Fund
The Ziidi Shariah Money Market Fund is a partnership between Safaricom, Kenya’s leading mobile service provider, and Genghis Capital, a CMA-licensed fund manager.
This collaboration merges Safaricom’s vast mobile reach with Genghis Capital’s investment expertise to make professional fund management accessible to millions of Kenyans.
The fund operates under CMA’s Collective Investment Scheme framework and involves key institutional players for investor protection and accountability:
- Fund Manager: Genghis Capital Ltd
- Trustee: Cooperative Bank of Kenya
- Custodian: KCB Bank Kenya Ltd
- Regulator: Capital Markets Authority (CMA)
- Shariah Advisory Board: Certifies and audits all investment activities to ensure compliance with Islamic finance principles.
Each of these entities plays a critical role in ensuring that investors’ money is handled ethically, prudently, and transparently.
How It Works
The Ziidi Shariah Money Market Fund pools money from multiple investors and directs it into Shariah-compliant investment instruments. These may include:
- Sukuk (Islamic Bonds) — Government or corporate debt structured to generate returns without interest.
- Murabaha Contracts — Cost-plus sale arrangements where profits are earned through trade, not interest.
- Mudarabah and Musharakah Agreements — Profit-sharing partnerships between investors and fund managers.
- Islamic Commercial Papers — Short-term, asset-backed securities approved under Shariah law.
Returns are distributed to investors based on profit-sharing ratios and not as predetermined interest payments. This ensures all gains are derived from legitimate trade and investment activity, upholding the integrity of Islamic financial principles.
Key Features of the Ziidi Shariah Money Market Fund
| Feature | Details |
| Type of Fund | Shariah-Compliant Money Market Fund |
| Fund Manager | Genghis Capital Ltd |
| Platform | Safaricom Ziidi via M-PESA |
| Regulator | Capital Markets Authority (CMA) |
| Trustee | Cooperative Bank of Kenya |
| Custodian | KCB Bank Kenya Ltd |
| Shariah Compliance | Supervised by a Shariah Advisory Board |
| AUM (as of June 2025) | Ksh 1,426,795 |
| Part of | Ziidi Unit Trust Scheme (AUM Ksh 10.22 billion) |
| Typical Yield | Estimated 10–11% p.a. (based on sector average) |
| Minimum Investment | Ksh 100 |
| Liquidity | Same-day or next-day withdrawals via M-PESA |
| Target Market | Muslim and ethical investors seeking low-risk growth |
Why the Ziidi Shariah Fund Stands Out
Faith-Compliant Investing
The Ziidi Shariah Fund provides Muslim investors with a rare opportunity to grow wealth while staying true to their faith. It avoids riba (interest), gharar (uncertainty), and maysir (speculation), making every investment ethically permissible.
This distinction makes it the most accessible and transparent Shariah-compliant savings vehicle in Kenya’s retail market today.
Seamless Digital Access
Through Safaricom’s M-PESA ecosystem, investors can join and manage their Ziidi Shariah accounts directly from their phones.
This mobile-first approach eliminates paperwork and branch visits, allowing users to invest, view returns, or withdraw funds instantly from anywhere in Kenya. It’s financial inclusion powered by technology.
Competitive Yields with Stability
Although it is Shariah-compliant, the Ziidi Shariah Fund offers returns comparable to conventional MMFs—typically around 10–11% annually.
Earnings are accrued daily and reinvested monthly, leading to compound growth over time. This makes it an ideal vehicle for short-term savings, cash management, or emergency funds.
Dual Oversight for Peace of Mind
The fund operates under two layers of governance: CMA’s regulatory framework and Shariah supervisory audits. This structure ensures compliance, transparency, and investor confidence—making it suitable for conservative investors who prioritize safety and ethical consistency.
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How to Invest in the Ziidi Shariah Money Market Fund
Step 1: Access the Ziidi Platform
Log into your M-PESA App or Safaricom App, and select Ziidi under the “Investments” section.
Step 2: Choose the Shariah Option
Select Ziidi Shariah Money Market Fund. You can review the terms and conditions directly from Safaricom’s official website before confirming.
Step 3: Make Your Investment
Enter the desired amount (minimum Ksh 100) and confirm using your M-PESA PIN. You’ll receive an instant confirmation message detailing your account balance and units purchased.
Step 4: Track and Withdraw Easily
Monitor your growth through the Ziidi dashboard. Withdrawals can be made directly to M-PESA within the same day or next business day, offering unmatched flexibility.
Comparison: Ziidi vs Ziidi Shariah Fund
| Aspect | Ziidi Money Market Fund | Ziidi Shariah Money Market Fund |
| Compliance | Conventional | Shariah-Compliant |
| AUM (Q2 2025) | Ksh 10.22 Billion | Ksh 1.43 Million |
| Underlying Assets | Treasury Bills, Bank Deposits, Commercial Papers | Sukuk, Murabaha, Trade Finance |
| Typical Yield (2025) | 11–12% | 10–11% |
| Accessibility | Via M-PESA Ziidi | Via M-PESA Ziidi |
| Investor Base | General Public | Muslim and Ethical Investors |
| Regulation | CMA | CMA with Shariah Oversight |
| Risk Level | Low | Low |
Performance and Growth Outlook
Data from the CMA Q2 2025 Collective Investment Schemes Report shows that the Ziidi Unit Trust Fund ranks among the top 15 CIS in Kenya, commanding a 1.7% market share of the total Ksh 596.3 billion AUM across all licensed schemes.
Its 39% quarterly AUM growth reflects the success of Safaricom’s digital integration model and rising interest in short-term investment funds. Although the Shariah sub-fund currently holds a small fraction of the total assets, its introduction demonstrates commitment to inclusivity and ethical finance — paving the way for rapid growth among faith-driven investors.
Benefits of Investing in Ziidi Shariah Money Market Fund
- Fully Shariah-compliant, avoiding interest-based instruments.
- Managed by a licensed and reputable fund manager (Genghis Capital).
- Accessible via mobile with a low entry threshold of Ksh 100.
- Highly liquid, with near-instant withdrawals to M-PESA.
- Ideal for ethical investors seeking low-risk, stable income.
- Transparent reporting and oversight under CMA regulations.
Risks and Considerations
Every investment carries some level of risk, and the Ziidi Shariah Fund is no exception. However, the risks are relatively minimal:
- Variable Returns: The fund’s yield may fluctuate depending on market performance and the profitability of underlying instruments.
- Liquidity Constraints: Large-scale redemptions or short-term market changes could temporarily impact returns.
- Regulatory Changes: Adjustments in CMA or Shariah guidelines might affect fund composition in the future.
Despite these factors, the fund remains one of Kenya’s safest and most stable investment choices for conservative and faith-based investors.
Best Use Cases for the Ziidi Shariah Fund
The fund is suitable for anyone looking to grow money safely without engaging in interest-based investments. Common use cases include:
- Building a Halal emergency fund
- Short-term cash parking for individuals or SMEs
- Saving for Hajj or Umrah
- Setting aside Zakat or Sadaqah funds for future use
- Diversifying a conventional investment portfolio with ethical exposure
Before You Go!
FAQs About Ziidi Shariah Money Market Fund
1. What makes Ziidi Shariah Fund different from other money market funds?
The Ziidi Shariah Fund invests exclusively in Shariah-compliant instruments such as Sukuk and Murabaha contracts. Unlike conventional MMFs that rely on interest-bearing securities, this fund earns profits through trade and leasing arrangements that adhere strictly to Islamic finance principles.
It provides peace of mind for Muslim investors who wish to grow their savings ethically.
2. How can I start investing in the Ziidi Shariah Fund?
You can access the fund directly through Safaricom’s M-PESA or Safaricom App by selecting the Ziidi Shariah option. The minimum investment is only Ksh 100, making it easy for anyone to start.
Once you confirm the transaction using your M-PESA PIN, your investment is recorded instantly, and you can track its progress anytime.
3. Is my money safe in the Ziidi Shariah Fund?
Yes. The fund is regulated by the Capital Markets Authority (CMA), managed by Genghis Capital, and monitored by a Shariah Advisory Board. In addition, the fund’s assets are held by a custodian bank (KCB Bank), separate from the fund manager’s accounts, ensuring full investor protection and accountability.
4. How are returns calculated and paid?
Returns are calculated daily and reinvested monthly, resulting in compounded growth over time. Instead of earning interest, investors share in the profits generated by underlying Shariah-compliant assets. This structure ensures transparency and fairness in how returns are distributed.
5. Can non-Muslims invest in the Ziidi Shariah Fund?
Absolutely. While the fund is structured to meet Islamic finance principles, it is open to anyone seeking ethical, low-risk investments. Many non-Muslim investors also choose Shariah-compliant funds for their transparency, stability, and disciplined approach to risk management.
