Safaricom has launched Ziidi Shari’ah, a Shari’ah-compliant Money Market Fund that allows M-PESA customers to invest while following Islamic finance principles. The product, launched in partnership with GulfCap Investment Bank, can be accessed through My OneApp or *334#, with investments starting at KSh100.
LIVEKenya MMF rates: Average 9.15% across 27 funds · top fund 11.01% · 21 OctCompare funds →Key Overview
- Ziidi Shari’ah is a Shari’ah-compliant Money Market Fund.
- Customers can start investing with KES 100, with subsequent top-ups from KES10.
- The fund is available through My OneApp and *334#.
- GulfCap Investment Bank manages and administers the fund.
- KCB Bank serves as trustee.
- The fund operates under the oversight of GulfCap’s Shari’ah Supervisory Board.
- It is regulated by the Capital Markets Authority.
- Customers can track daily profits and make deposits and withdrawals without transaction charges.
- The fund operates separately from Safaricom’s conventional Ziidi Money Market Fund.
Safaricom Expands M-PESA Investment Options
Safaricom has expanded its investment offering with the launch of Ziidi Shari’ah, giving customers an option to invest through M-PESA while following Shari’ah principles.
The fund was launched in partnership with GulfCap Investment Bank and combines Safaricom’s digital platform with GulfCap’s investment management and Shari’ah expertise. Customers can access the product through My OneApp or by dialling *334#.
The entry point is KES 100, while subsequent top-ups start at KES 10. This allows customers to begin with a relatively small amount and continue building their investments over time.
The launch also expands the range of investment products available to Safaricom’s large M-PESA customer base. TechMoran reports that the fund is being opened to Safaricom’s more than 41 million M-PESA customers.
How Ziidi Shari’ah Works
Unlike conventional money market funds that generate returns through interest-bearing investments, Ziidi Shari’ah follows investment structures that comply with Islamic finance principles.
The fund invests in short-term, highly liquid instruments held with Shari’ah-compliant banks. Its returns are generated through permissible investment activities rather than interest, or riba.
The fund also avoids activities that are considered incompatible with Shari’ah principles. This creates a separate investment route for customers who want their savings to follow specific religious or ethical requirements.
Ziidi Shari’ah operates independently from Safaricom’s conventional Ziidi Money Market Fund, meaning the two products follow different investment approaches.
GulfCap Manages the Fund
GulfCap Investment Bank is responsible for managing and administering Ziidi Shari’ah, while KCB Bank acts as trustee. Compliance with Shari’ah principles is overseen by GulfCap’s Shari’ah Supervisory Board.
The fund is also regulated by the Capital Markets Authority, providing a regulatory framework for the investment product.
Dealroom describes the launch as a partnership between Safaricom and GulfCap Investment Bank that gives M-PESA customers access to investments following Islamic finance principles. The fund is also designed for customers beyond the Muslim community who prefer ethical investment options.
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Customers Can Track Daily Profits
Ziidi Shari’ah gives investors digital access to their investments through M-PESA. Customers can monitor their daily profits, deposit money into their accounts and withdraw funds directly to their M-PESA wallets.
The service also allows deposits and withdrawals without transaction charges. Customers can additionally lock their funds, a feature intended to encourage disciplined saving and reduce unplanned withdrawals.
The fund has no stated maximum investment amount, although standard M-PESA transaction limits apply. These include a daily limit of KES 500,000 and a maximum of Sh 250,000 per transaction.
LIVEKenya MMF rates: Average 9.15% across 27 funds · top fund 11.01% · 21 OctCompare funds →A Different Option for Kenyan Investors
The launch gives Kenyan investors another way to access money market investments through a familiar mobile platform.
For Muslim customers, the product provides an investment option structured around Shari’ah requirements. At the same time, the fund is also available to individuals looking for ethical investment products regardless of their religious background.
Safaricom CEO Peter Ndegwa said the product is part of the company’s broader financial inclusion efforts, with the aim of making investment services accessible while recognising the different needs and values of customers.
GulfCap Investment Bank CEO Saud Shahbal similarly highlighted the fund’s focus on permissible investment activities and its ability to provide customers with access to short-term, liquid investments through the M-PESA platform.
Outlook
Ziidi Shari’ah adds another layer to M-PESA’s growing role in savings and investment services. By combining a low entry point with mobile access, daily profit tracking and Shari’ah-compliant investment structures, the fund gives customers another route for building savings through their phones.
The product also expands the choice available to investors seeking financial products that align with religious or ethical principles, while keeping the investment experience within the M-PESA ecosystem.
FAQs
1. What is Ziidi Shari’ah?
Ziidi Shari’ah is a Shari’ah-compliant Money Market Fund launched by Safaricom in partnership with GulfCap Investment Bank.
2. How much do I need to start investing?
Customers can start investing with KES100, while subsequent top-ups can start from KES10.
3. How can customers access Ziidi Shari’ah?
Customers can access the fund through My OneApp or by dialling *334#.
4. Is Ziidi Shari’ah only for Muslim customers?
No. The fund is also available to customers who prefer ethical investments that follow Shari’ah principles.
Sources: Techweez | Bizna Kenya | TechAfrica News |TechMoran | Tuko
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