A few weeks back, we informed you about Safaricom’s new Money Market Fund (MMF), Ziidi. At that time, the fund had just been approved by the Capital Markets Authority (CMA). The regulator said Ziidi Money Market Fund has been approved as a Collective Investment Scheme (CIS).
When the announcement was made, you could not sign up to use the service and there was no information of when the service would be available. The existence of Mali, another MMF from Safaricom further complicated things and since Safaricom didn’t officially say anything about it, we just weren’t sure about the way forward.
Fast forward a few weeks later and those interested can sign up for Ziidi. The option is now available through the M-Pesa app.
How to Sign up and Invest with Ziidi Money Market Fund
To sign up for Ziidi, you will need a active Safaricom line.
- Open up the M-Pesa App.
- Tap on ‘Services‘.
- Choose ‘Financial services‘.
- You will see ‘Ziidi‘ as one of the top recommendations. If you don’t see is, search for it using the search bar.
- You will be prompted to opt in, choose that and proceed.
Once you oopt in, you can start saving, see your savings, interest you earned the previous day and the current interest rate.
Through USSD
If you don’t have the M-Pesa app, you can access the service through USSD:
- Dial *334#
- Choose option 5 ‘Financial services‘
- Then ooption 1 for ‘Ziidi‘.
That’s it, you can now save with Ziidi. Keep in mind that Ziidi does not offer the highest interest rates as the current one is 13.65%. Check out some of the other MMFs options available and shop around before settling for one:
- Zimele Money Market
- GenCap Hela Fund (Money Market Fund)
- Old Mutual Money Market
- GenAfrica Money Market Fund
- Etica Money Market Fund
- Cytonn Money Market Fund
- Nabo Money Market Fund
Safaricom is allowing those who are using Mali to still sign up for Ziidi.
Also Read: All You Need to know About the Cashlet App – An Easier Way to Start Your Investment Journey
