Ziidi Money Market Fund (MMF) allows M-PESA customers to invest from as low as KES 100 and earn competitive daily interest. This FAQ-based guide answers common questions about eligibility, interest, taxation, account management, and fund features to help you maximize your investment.
Who Can Invest in Ziidi MMF?
- Individual investors only: Currently, Ziidi MMF is approved by the Capital Markets Authority (CMA) for individual accounts.
- Future plans: Options for chamas and businesses are being developed.
Is Ziidi MMF Halal Compliant?
- At present, Ziidi MMF is an interest-earning money market fund and not Shariah-compliant.
- A Shariah-compliant version will be launched soon.
How is Interest Calculated?
- Funds are invested in government securities such as T-bills and interest-bearing accounts.
- Daily interest is computed automatically and displayed on the M-PESA App or via USSD *334#.
- Your funds start earning interest 24 hours after deposit.
- The fund management fee of 2% p.a. is already factored into the net return.
Taxation and Fees
- Tax: Interest earned is subject to 15% withholding tax, as with all interest-earning investments.
- Transaction fees: There are no charges for deposits or withdrawals between your M-PESA wallet and Ziidi MMF.
- Maintenance fees: None; the fund is zero-rated.
Deposit and Withdrawal Rules
- Minimum investment: KES 100
- Minimum withdrawal: KES 10
- Maximum limits: None, subject to M-PESA daily limits: KES 500,000 per day and KES 250,000 per transaction.
- Channels: Only via M-PESA App or USSD *334#. Funds cannot be deposited or withdrawn directly to a bank or agent.
- Real-time access: Funds are instantly available in your M-PESA wallet.
How to Track Your Investment
- View your investment performance and daily earnings on the Ziidi Mini-App homepage within the M-PESA App or via USSD *334#.
Next of Kin Access
- You can update a Next of Kin in the Ziidi Mini-App.
- Required documents for claims:
- Completed Ziidi Next of Kin claim form
- Identification (ID/Passport)
- Death certificate
- Grant of probate / letter of administration
- Local administration letter confirming the heir
- Claim channels: Visit a Safaricom Retail Shop or Customer Care Desk.
- Changing ownership: You cannot directly transfer ownership; funds must be withdrawn first, then the mobile account ownership changed separately.
Locking Funds on Ziidi MMF
- Purpose: Locking funds helps prevent impulsive spending and encourages financial discipline.
- Interest: Locked funds earn the same interest as regular investments.
- Locking period: Flexible, no fixed duration.
- Unlocking: Funds become available 72 hours after unlocking; partial unlocking is not allowed.
- Limits: No maximum amount; the locked amount cannot exceed your balance.
Support and Customer Care
For any questions or assistance:
- Prepay Customers: Call 100 or +254 722 002100 (chargeable), email Customercare@safaricom.co.ke
- Postpay Customers: Call 200 (free) or +254 722 002100 (chargeable), email advantage@safaricom.co.ke
- Social Media: X: @Safaricom_care, @safaricomPLC | Facebook: @safaricomPLC
- Retail/Customer Care Desk: Visit any Safaricom Retail Shop for in-person support
Key Takeaways
- Ziidi MMF is for individual investors seeking a low-risk, interest-earning investment via M-PESA.
- Minimum investment is KES 100, and funds are instantly accessible.
- Taxed at 15%, with zero transaction or maintenance fees.
- Flexible fund locking features and full Next of Kin support.
- Shariah-compliant version coming soon; chamas and businesses options planned.
