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Money Market Funds(MMFs) in Kenya
What are some of the MMFs in Kenya?
How do they compare against one another?
Let's find out below
Money Market Funds(MMFs) in Kenya
What are some of the MMFs in Kenya?
How do they compare against one another?
Let's find out below
A couple of things before we get started.
- The order of the MMFs in this list is not a ranking.
- Check out the bottom of this thread for an e-book on personal finance.
- Check this thread to learn more about MMFs https://twitter.com/kahome_steve/status/1479370124805263363?s=20
- The order of the MMFs in this list is not a ranking.
- Check out the bottom of this thread for an e-book on personal finance.
- Check this thread to learn more about MMFs https://twitter.com/kahome_steve/status/1479370124805263363?s=20
1. Madison MMF [ @MadisonGroupKe]
Initial investment amount of Ksh 5,000
No maximum limit.
Top up with as little as Ksh 1,000 whenever you have additional cash.
Provides free monthly statements.
Current annual yield of 9.62% p.a
Withdrawals processed within 2 working days.
Initial investment amount of Ksh 5,000
No maximum limit.
Top up with as little as Ksh 1,000 whenever you have additional cash.
Provides free monthly statements.
Current annual yield of 9.62% p.a
Withdrawals processed within 2 working days.
2/ CYTON MMF [ @CytonnInvest ]
Annual management fee of 1.5% p.a.
Minimum investment of Ksh 100
No minimum top up.
Allow deposits via M-pesa
One can withdraw or invest up to a max of Ksh 300,000
Annual management fee of 1.5% p.a.
Minimum investment of Ksh 100
No minimum top up.
Allow deposits via M-pesa
One can withdraw or invest up to a max of Ksh 300,000
3. UAP Old Mutual MMF [ @UAPOldMutual
Minimum investment is Ksh 1,000
You can use your investment portfolio to secure a loan.
Top up with at least Ksh 1,000 per month
No restrictions to the maximum contributions
Allow one free withdrawal every month.
Allow M-pesa deposits
Minimum investment is Ksh 1,000
You can use your investment portfolio to secure a loan.
Top up with at least Ksh 1,000 per month
No restrictions to the maximum contributions
Allow one free withdrawal every month.
Allow M-pesa deposits
4/ Zimele MMF [ @ZimeleAM ]
Minimum deposit of Ksh 100
Mpesa options for deposits and withdrawals
No minimum balance required.
Management fee of 2% per year.
Minimum deposit of Ksh 100
Mpesa options for deposits and withdrawals
No minimum balance required.
Management fee of 2% per year.
5/ CIC MMF [ @CICGroupPLC ]
Minimum investment amount is Ksh 5,000
Minimum additional amount is Ksh 1,000
Access your money within 2-4 working days
Annual management fee of 2%
Monthly statements provided
Minimum investment amount is Ksh 5,000
Minimum additional amount is Ksh 1,000
Access your money within 2-4 working days
Annual management fee of 2%
Monthly statements provided
6/ ICEA LION MMF [ @icealion]
Minimum investment is Ksh 500
You can make additional deposits of any amount at any time
For amounts less than 10K, via mobile money, you can access your funds within 24 hours
Higher amounts can be sent to your bank account within 3 working days
Minimum investment is Ksh 500
You can make additional deposits of any amount at any time
For amounts less than 10K, via mobile money, you can access your funds within 24 hours
Higher amounts can be sent to your bank account within 3 working days
7/ Genghis Capital MMF[ @genghiscapital ]
Minimum investment amount is Ksh 500
Minimum top up is Ksh 500
Access your money within 2-4 working days.
Annual management fee of 2%
Easy sign up via G-Kuze app.
Minimum investment amount is Ksh 500
Minimum top up is Ksh 500
Access your money within 2-4 working days.
Annual management fee of 2%
Easy sign up via G-Kuze app.
8/ Britam MMF [ @BritamEA ]
Easy sign up via MyBritam App and MyBritam portal.
Easy withdrawal to your M-pesa or bank account within 48 hours.
Easy sign up via MyBritam App and MyBritam portal.
Easy withdrawal to your M-pesa or bank account within 48 hours.
9/ Sanlam MMF [ @SanlamKenya ]
Zero initial fees.
Minimum investment is Ksh 2500
Annual management fee of 1.2%
Zero initial fees.
Minimum investment is Ksh 2500
Annual management fee of 1.2%
10/ Apollo MMF
Minimum investment is Ksh 10,000
Additional top ups of at least Ksh 2,000
Minimum investment is Ksh 10,000
Additional top ups of at least Ksh 2,000
11/ Dry Associates MMF
Funds accessible after 3 business days.
Minimum investment is Ksh 1M
Minimum top up is Ksh 250,000
Statements are emailed monthly.
Funds accessible after 3 business days.
Minimum investment is Ksh 1M
Minimum top up is Ksh 250,000
Statements are emailed monthly.
Do note that:
There are 20+ registered MMFs. I couldn't get info on all.
The info above is directly from their websites.
I have tagged relevant sources so that they could make any clarifications if any.
And members of the public can inquire of features I may have omitted.
There are 20+ registered MMFs. I couldn't get info on all.
The info above is directly from their websites.
I have tagged relevant sources so that they could make any clarifications if any.
And members of the public can inquire of features I may have omitted.
If you enjoyed this thread:
My mission is to spread financial wellness and help people achieve their financial goals.
1. Follow me @kahome_steve for more amazing threads.
2. Retweet the first tweet so that other people may see it.
@Theo_mwangi @MwangoCapital @cheruiyotkb
My mission is to spread financial wellness and help people achieve their financial goals.
1. Follow me @kahome_steve for more amazing threads.
2. Retweet the first tweet so that other people may see it.
@Theo_mwangi @MwangoCapital @cheruiyotkb
P.S.
If you loved this thread, you would love my e-book on financial literacy
It entails personal finance management skills as well as investing fundamentals
It will teach you how to manage your personal finances and start investing in the right way
Get it in the link below.
If you loved this thread, you would love my e-book on financial literacy
It entails personal finance management skills as well as investing fundamentals
It will teach you how to manage your personal finances and start investing in the right way
Get it in the link below.
Here's the link. If you can't access it via this link, DM https://gichukikahome.gumroad.com/l/kbngcy
TL;DR
Things to consider before joining any MMF.
1. Management fees
2. Minimum investment
3. Minimum top ups.
4. Ease of access of funds
5. How to get monthly statements
6. Customer care service
7. How to make deposits/ withdrawals
Things to consider before joining any MMF.
1. Management fees
2. Minimum investment
3. Minimum top ups.
4. Ease of access of funds
5. How to get monthly statements
6. Customer care service
7. How to make deposits/ withdrawals
12/ Co-op MMF [ @Coopbankenya ]
Management fees - 0.9%
Minimum investment - Ksh 2,000
You can top up with any amount and at any time.
Access your money within 2-3 days.
Current annual yield is 8.5%
Allows Mpesa deposits.
Management fees - 0.9%
Minimum investment - Ksh 2,000
You can top up with any amount and at any time.
Access your money within 2-3 days.
Current annual yield is 8.5%
Allows Mpesa deposits.
13/ Britam MMF
Minimum investment - Ksh 1,000
Minimum top up - Ksh 100
Annual Management fee - 2.5%
Allows deposits/withdrawals via Mpesa
One free withdrawal every month.
If you would like to learn more or to join Britam MMF you can contact @WmNelima101
Minimum investment - Ksh 1,000
Minimum top up - Ksh 100
Annual Management fee - 2.5%
Allows deposits/withdrawals via Mpesa
One free withdrawal every month.
If you would like to learn more or to join Britam MMF you can contact @WmNelima101
