Updated The Serrari Kenya KES MMF Average Index, the simple average of all 27 funds tracked, stands at 9.15%, before the 15% withholding tax.
All 27 CMA-regulated Kenyan money market funds, ranked by effective annual rate as of 21 October 2026. The highest-yielding funds today are Cytonn 11.01% (9.36% net), Faulu 10.80% (9.18% net), Lofty Corban 10.55% (8.97% net), Madison 10.41% (8.85% net), Nabo Africa 10.39% (8.83% net). Gross rates are shown before the 15% withholding tax; the net figure is what reaches your account.
Updated daily · Independent benchmark
Serrari tracks and compares funds — we do not manage money or hold deposits. To invest, open an account directly with a fund manager. See the financial products marketplace
All CMA-regulated Kenyan money market funds tracked by Serrari. Returns are shown as Effective Annual Rate (EAR) to make it easier to find the best money market fund for your needs.
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✓ CMA marks a fund listed by name on the Capital Markets Authority's register of approved collective investment schemes (checked 2 Oct 2026). Verify on the CMA register.
All figures in KES. Swipe the table sideways to see every column.
| News | Watch | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | CytonnTop | 11.01% | — (No earlier reading to compare with yet) | 1KKES 1K | Cytonn Money Market Fund CMA | 2.00% | 9.36% | 2.1BKES 2.1B | ||
| 2 | 10.80% | — (No earlier reading to compare with yet) | 1KKES 1K | Faulu Money Market Fund CMA | 2.00% | 9.18% | 299MKES 299M | |||
| 3 | 10.55% | — (No earlier reading to compare with yet) | 1KKES 1K | Lofty Corban Money Market Fund CMA | 2.00% | 8.97% | 4.4BKES 4.4B | |||
| 4 | 10.41% | — (No earlier reading to compare with yet) | 5KKES 5K | Madison Money Market Fund CMA | 2.00% | 8.85% | 6.0BKES 6.0B | |||
| 5 | 10.39% | — (No earlier reading to compare with yet) | 100KKES 100K | Nabo Africa Money Market Fund CMA | 2.25% | 8.83% | 7.1BKES 7.1B | |||
| 6 | 10.36% | — (No earlier reading to compare with yet) | 1KKES 1K | Orient Kasha Money Market Fund CMA | 2.00% | 8.81% | 434MKES 434M | |||
| 7 | 10.30% | — (No earlier reading to compare with yet) | 1KKES 1K | Old Mutual Money Market Fund CMA | 2.00% | 8.76% | 26.7BKES 26.7B | |||
| 8 | 10.28% | — (No earlier reading to compare with yet) | 500KKES 500K | GenAfrica Money Market Fund CMA | 2.00% | 8.74% | 4.7BKES 4.7B | |||
| 9 | 10.26% | — (No earlier reading to compare with yet) | 3KKES 3K | Arvocap Money Market Fund CMA | 2.00% | 8.72% | 550MKES 550M | |||
| 10 | 10.23% | — (No earlier reading to compare with yet) | 1KKES 1K | Kuza Money Market Fund CMA | 2.00% | 8.70% | 2.4BKES 2.4B | |||
| 11 | 10.18% | — (No earlier reading to compare with yet) | 100KES 100 | Etica Money Market Fund CMA | 2.00% | 8.65% | 12.3BKES 12.3B | |||
| 12 | 10.14% | — (No earlier reading to compare with yet) | 5KKES 5K | Jubilee Money Market Fund CMA | 2.00% | 8.62% | 12.5BKES 12.5B | |||
| 13 | 9.78% | — (No earlier reading to compare with yet) | 1KKES 1K | Britam Money Market Fund CMA | 2.00% | 8.31% | 15.5BKES 15.5B | |||
| 14 | 9.48% | — (No earlier reading to compare with yet) | 3KKES 3K | Sanlam Allianz Money Market Fund | 2.00% | 8.06% | 123.3BKES 123.3B | |||
| 15 | 9.39% | — (No earlier reading to compare with yet) | 1KKES 1K | KCB Money Market Fund CMA | 2.00% | 7.98% | 19.4BKES 19.4B | |||
| 16 | 9.17% | — (No earlier reading to compare with yet) | 1MKES 1M | Dry Associates Money Market Fund CMA | 2.26% | 7.79% | 4.2BKES 4.2B | |||
| 17 | 8.88% | — (No earlier reading to compare with yet) | 500KES 500 | Hela Imara Money Market Fund | 2.00% | 7.55% | 589MKES 589M | |||
| 18 | 8.63% | — (No earlier reading to compare with yet) | 1KKES 1K | CPF Money Market Fund CMA | 3.00% | 7.34% | 5.6BKES 5.6B | |||
| 19 | 8.41% | — (No earlier reading to compare with yet) | 5KKES 5K | CIC Money Market Fund CMA | 2.00% | 7.15% | 75.1BKES 75.1B | |||
| 20 | 8.22% | — (No earlier reading to compare with yet) | 100KKES 100K | African Alliance Money Market Fund | 2.00% | 6.99% | 364MKES 364M | |||
| 21 | APA | 8.16% | — (No earlier reading to compare with yet) | 1KKES 1K | Apollo Money Market Fund CMA | 2.00% | 6.94% | 4.1BKES 4.1B | ||
| 22 | 8.14% | — (No earlier reading to compare with yet) | 5KKES 5K | NCBA Fixed Income Fund CMA | 2.00% | 6.92% | 641MKES 641M | |||
| 23 | 8.04% | — (No earlier reading to compare with yet) | 500KES 500 | Co-op Money Market Fund CMA | 0.90% | 6.83% | 21.6BKES 21.6B | |||
| 24 | 7.92% | — (No earlier reading to compare with yet) | 500KES 500 | ICEA Lion Money Market Fund CMA | 2.00% | 6.73% | 20.4BKES 20.4B | |||
| 25 | Safaricom | 7.12% | — (No earlier reading to compare with yet) | 100KES 100 | Ziidi Money Market Fund CMA | 2.00% | 6.05% | 2.3BKES 2.3B | ||
| 26 | 5.48% | — (No earlier reading to compare with yet) | 1KKES 1K | Equity Money Market Fund | 2.00% | 4.66% | 88.70MKES 88.70M | |||
| 27 | 5.38% | — (No earlier reading to compare with yet) | 1KKES 1K | Stanbic Money Market Fund CMA | 2.00% | 4.57% | 2.1BKES 2.1B |
Purple line: Market average across Kenyan money market funds.
Funds below the line are underperforming the market.
Monthly averages of the Serrari Kenya MMF Average Index and Leaders Index over the last six complete months, showing how market-wide yields have moved over time.
The five highest-yielding money market funds in the latest data, ranked by the yield each manager announced. Their average is the Serrari Leaders Index.
A monthly-rebalanced Leaders Index, based on three months of rankings, has been adopted and is being introduced. How the Leaders Index works.
Built using widely accepted index methodology. Follows established benchmark construction principles. For context, compare with Treasury bill rates, fixed deposit returns, and savings account interest rates in Kenya. Sources, the Average Index formula and the history we publish are set out in our data methodology.
EAR (Effective Annual Rate): The yearly return you earn from Money Market Funds. All returns are shown as EAR to make it easier to compare different funds.
The Average Index is calculated as the simple average of yields across all tracked funds. Each fund receives equal weight.
Both indices are recalculated from each day’s data. The Leaders Index is currently the average of the five highest yields; a monthly-rebalanced version based on three months of rankings is being introduced.
KES- and USD-denominated funds tracked separately to avoid currency distortion. Coverage expands as new funds launch.
15% tax is deducted from your interest earnings before you receive the money. Net yields shown already include this deduction.
Explore fixed deposits, bonds, unit trusts, and other investment options alongside MMFs.
Pick any two funds to see their rates before and after the 15% withholding tax, where each ranks, how each has moved over 30 days and what each would pay on KES 100,000 a year.
Money market funds in Kenya — often called MMFs, or an "MMF account" — are low-risk investment funds that pool money from many investors into short-term, interest-earning assets such as Treasury bills, fixed deposits, and high-quality commercial paper. They have become one of the most popular ways for Kenyans to grow idle cash, because they pay more than an ordinary bank savings account while still letting you withdraw your money within a few working days.
This page tracks and compares every CMA-regulated money market fund in Kenya, ranked by effective annual rate (EAR) and updated daily. For each fund you can see the current gross yield, the management fee, the minimum investment required, and the net return after Kenya’s 15% withholding tax — so you compare what you actually keep, not just the headline rate.
Whether you are building an emergency fund, parking short-term savings, or weighing a money market fund against a SACCO, fixed deposit, or Treasury bill, the rankings below help you find the fund that fits your goal. Yields move with interest rates and inflation, so we refresh the data every day and recalculate the Serrari Average and Leaders indices to give you an independent, up-to-date benchmark.
Serrari compares funds — we do not manage money or hold deposits. To invest, open an account directly with a licensed fund manager.
Rates above are refreshed daily; figures shown as of 21 October 2026.
The KCB Money Market Fund pays 9.39% gross and 7.98% net after Kenya's 15% withholding tax. Minimum investment is KES 1,000, the management fee is 2.00%, and the fund holds KES 19.4 billion. That ranks it 15th of 27. Moving the same money to the top-ranked fund would earn you roughly 1.4 percentage points more per year after tax.
The Equity Money Market Fund pays 5.48% gross and 4.66% net, on a KES 1,000 minimum and a 2.00% management fee. It is 26th of 27 by yield — and holds KES 88.7 million, the smallest fund on the table. On KES 100,000 held for a year, the gap between this fund and the market leader is about KES 4,700 after tax.
The Co-op Money Market Fund pays 8.04% gross and 6.83% net, ranking 23rd of 27. Its headline advantage is cost: at 0.90% it charges the lowest management fee of any money market fund in Kenya. The minimum is KES 500 and the fund holds KES 21.6 billion. A low fee does not compensate for a low gross yield here — the net return is still below the market median.
The Sanlam Allianz Money Market Fund pays 9.48% gross and 8.06% net, on a KES 3,000 minimum and a 2.00% fee. At KES 123.3 billion it is the largest money market fund in Kenya by assets under management, and it ranks 14th of 27 by yield.
The Etica Money Market Fund pays 10.18% gross and 8.65% net after the 15% withholding tax, ranking 11th of 27. The management fee is 2.00% and the fund holds KES 12.3 billion. What sets it apart is the entry price: KES 100 — the lowest minimum of any money market fund in Kenya, and the highest-yielding fund you can open for that amount (two funds accept KES 100; this one pays the most). Against the top-ranked fund the gap is about 0.7 percentage points of net yield.
The CIC Money Market Fund pays 8.41% gross and 7.15% net, on a KES 5,000 minimum and a 2.00% management fee. It is one of the best-known funds in the country — at KES 75.1 billion it is the second largest money market fund in Kenya by assets — but size and yield are different things: it ranks 19th of 27 by yield. On KES 100,000 held for a year, the gap to the market leader is about KES 2,210 after tax.
Ziidi is Safaricom's money market fund, bought and sold inside M-PESA. It pays 7.12% gross and 6.05% net on a KES 100 minimum and a 2.00% fee, holding KES 2.3 billion, which ranks it 25th of 27. The convenience has a price: Etica Money Market Fund opens for the same KES 100 and pays 10.18% gross (8.65% net) — 2.60 percentage points more after tax, or about KES 2,600 a year on KES 100,000.
Britam Money Market Fund pays 9.78% gross (8.31% net) on KES 15.5 billion of assets, 13th of 27. NCBA Fixed Income Fund pays 8.14% gross (6.92% net) on KES 640.8 million of assets, 22nd of 27. Stanbic Money Market Fund pays 5.38% gross (4.57% net) on KES 2.1 billion of assets, 27th of 27.
For comparison, the highest-yielding funds on this page today are Cytonn Money Market Fund at 11.01% gross / 9.36% net, Faulu Money Market Fund at 10.80% gross / 9.18% net, Lofty Corban Money Market Fund at 10.55% gross / 8.97% net. Cytonn Money Market Fund pays 11.01% gross (9.36% net) on a minimum of just KES 1,000, the lowest entry point of any top-ten fund in Kenya.
Minimums range from KES 100 (Etica, Ziidi) to KES 1,000,000 (Dry Associates). 17 of the 27 CMA-regulated funds accept KES 1,000 or less, including six of the top ten by yield — so a small starting balance does not force you into a low-yielding fund.
Source: Serrari Group (serrarigroup.com/ke/mmf), Serrari Kenya KES MMF Average Index: 9.15% across 27 funds, as of 21 October 2026.
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Newest first, from the Serrari newsroom
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Annual yields before fees and tax.
Dashed line shows the Serrari Average Index.
Annual yields for all tracked funds before management fees and withholding tax are deducted.
The return you receive after the fund's fees and 15% withholding tax are taken out. For example, if the fund earns 12% and charges 2% in fees, the net yield is about 10%, then after 15% WHT you receive about 8.5%.
The actual return credited to investors after management fees and 15% withholding tax have been deducted.
Estimate potential MMF earnings based on current yields. Select a Serrari index or an individual fund provider to see projected returns after fees and tax.
Serrari Kenya KES MMF Leaders Index · 1 year · net of fees & 15% WHT
