Top 10 Money Market Funds in Kenya by Assets Under Management in 2024

If you aim to save money and get some interest out of it, Money Market Funds are your best option. With MMFs, you get to save as little as Kes. 100, and you can always withdraw the money when the need arises, depending on the MMF you choose. Among the many money market funds in Kenya, you need to choose one that has performed well in the past. That’s why today we’re discussing the top 10 money market funds in Kenya by assets under management.

1. Cytonn Money Market Fund

Cytonn has retained its position as a top-performing money market fund in Kenya. The MMF invests the deposited money into short-term debt securities. This makes it a perfect match for investors looking to save in a low-risk MMF where their capital is safely invested.

Cytonn doesn’t require any entry or exit fees. This means that an investor can invest their money with no entry fee needed. This also means that since it requires a minimum of KES. 1,000 as an initial deposit; you are only required to deposit that exact amount.

Also, if you want to exit, there are no exit charges. You can withdraw all your savings and your capital with no extra charges. The interests on this MMF are compounded daily, which makes it a good opportunity to grow your money rather than saving it in a bank.

When it comes to topping up your account, Cytonn requires that you have a minimum of KES.1,000. The fund also offers a user-friendly mobile app that you can download on your Android or iOS device. 

Cytonn is exceptionally easy to work with. Your deposits always reflect within a day, which means your funds can start working immediately. To sign up, you can easily download the application form from this link.

After filling out the form, you can email it back to and wait for their response to your application.

Also Read: 10 Best Money Market Funds In Kenya to Invest In

Key features of Cytonn money market fund

  • Performance: 10.6%
  • No entry or exit fee
  • Minimum of KES. 1,000 for the initial deposit
  • Minimum of Kes. 1,000 for the top-ups
  • Interests are compounded daily
  • Android and iOS mobile app available

2. Zimele Money Market Fund

With the Zimele Money Market Fund, no one is excluded from saving in an MMF. To invest, you only need as little as KES. 100 for the initial minimum deposit and KES. 100 for the regular top-ups.

Investors can make deposits directly from Mpesa and also withdraw to their Mpesa. Zimele also invests in short-term debt securities, making it perfect for investors who are after low-risk investments.

Zimele then shares their returns to their investors as interests. These interests are compounded every day and are transferred to the investor monthly. The fund is also licensed and regulated by CMA, which means that your investment is safe.

The fund has also provided a user-friendly online portal that investors can use to manage their accounts. The fund is ideal for individual savers, chamas, businesses, self-help groups, and others.

In fact, you get a chance to specify whether you want to account for your family or organization. There’s also a choice to open an account for your savings.

Joining Zimele is a piece of cake. You will only need to visit their official site and click on ‘Open Account.’ From here, you can choose which type of account you want to open.

Key features of Zimele Money Market Fund

  • Performance: 9.9%
  • Minimum of KES. 100 for the initial deposit
  • Minimum of KES. 100 for the regular top-ups
  • Deposit directly from Mpesa
  • Regulated by CMA
  • Interests compounded daily 

3. Apollo Money Market Fund

Third on our top 10 money market funds in Kenya by assets under management list is Apollo MMF. This fund is managed by APA Insurance and requires an investor to have at least KES. 1,000 to start saving on Apollo. 

The regular voluntary top-ups should not be below KES. 1,000. Investors can top up using a direct cash deposit, direct debit order, and standing order.

Apollo invests in medium to long-term investments where investors can be guaranteed interest. Unlike many MMFs, Apollo does not provide clear Mpesa deposit options. Investors have to find a way to invest or withdraw money using other payment methods.

Key Features of Apollo Money Market Fund

  • Performance: 9.4%
  • Managed by APA Insurance
  • Minimum of KES. for the initial deposit
  • Minimum of KES. for the regular top-ups
  • Medium to long-term investment

4. Madison Money Market Fund

Madison is another MMF in Kenya you can choose if you don’t mind a slightly higher minimum initial investment. For Madison, you might need a minimum of KES. 5,000 for the initial deposit. 

You will then need a minimum of KES. 1,000 for the top-ups. One notable advantage of Madison is that it doesn’t charge its investors any entry or exit fee.

You can also withdraw your investments when you need to, and you will not be penalized for it. With Madison, you also get free monthly statements, which are sent to you by the 4th of every month.

The statement contains your account information, including all your transactions. Joining Madison Money Market Fund is so easy you only need to fill in the online form they provide on their site.

Key Features of Madison Money Market Fund

  • Minimum of KES. 5,000 for the initial deposit
  • Minimum of KES. 1,000 for the top-ups
  • No penalty on withdrawing before maturity
  • No entry or exit fee

5. CIC Money Market Fund

Like the rest of the MMFs, CIC Money Market Fund invests in short-term debt securities. This means that the investments will mature in a year. The deposits from their investors are invested into these short-term debt securities, where they will eventually earn interest.

The interests are compounded daily, and the accumulated sum is credited to the investor’s account. Redeeming your funds from these funds takes about 2-4 days, which is quite reasonable.

One downside of this fund is the long sign-up process, which includes the process of filling out the form and waiting for a response. 

Key Features of CIC Money Market Fund

  • Withdrawal takes 2-4 days
  • Minimum of KES. 5,000
  • Minimum of KES 1,000
  • One year maturity period

6. Sanlam Money Market Fund

If you are looking for a money market fund that will safely preserve your capital until maturity, then Sanlam MMF is the fund for you. The fund, however, requires you to have a minimum of KES. 2,500 for the initial deposit.

The money deposited on Sanlam is then invested in securities such as fixed deposits to banks, treasury bills, and corporate debt. You should also have a minimum of Kes. 1,000 for the top-ups.

To start investing, simply visit Sanlam’s official site and click on Invest to start on the investing journey.

Key Features of Sanlam Money Market Fund

  • Minimum of KES. 2,500 for the first deposit
  • Minimum of KES. 1,000 for regular top-ups
  • Safely preserves capital

7. Britam Money Market Fund

Britam is another fund that invests in short-term debt securities. You only need KES. 1,000 for the initial investment and the top-ups. 

With Britam, you can earn monthly interest as you build your savings. Britam MMF also does not have some hidden charges, but you will be charged a 1.5% management fee annually.

To join, simply visit their official site and download the application form.

Key Features of Britam Money Market Fund

  • Minimum of KES. 1,000 for the initial investment
  • Minimum of KES. 1,000 for the regular top-ups
  • 1.5% annual management fee
  • Mobile app avail on App Store and Google Play

8. Absa Money Market Fund

According to ABSA, this fund is for investors looking to invest in low-risk but high-interest portfolios. The fund has an annual management fee of 2% that investors are required to pay.

The minimum initial investment required in this fund is KES. 1,000, but there’s no minimum amount that you can top up. You can always top up any amount you want.

Its custodian is Standard Chartered Custody, while its trustee is KCB Corporate Trustees. The fund also has a dollar account where you can invest in dollars. To join, you can visit the Absa bank site and fill out the form with your details for your application.

Key Features of ABSA Money Market Fund

  • 2% annual management fee
  • Minimum of KES. 1,000 for the first deposit
  • No minimum amount for regular deposits
  • Has a dollar account

9. Old Mutual Money Market Fund

This is a low-risk fund that provides investors with interest with no penalties. The fund has high liquidity, which means you can withdraw your money whenever you need to.

Those who seek to invest with Old Mutual MMF can deposit for as low as KES.1,000. You will also need a minimum of KES. 1,000 for your top-ups.

The fund also boasts of a fund size of up to KES. 4.65 bn. To start investing in this fund, you can dial *480#  or chat with a virtual assistant on Facebook Messenger through this link.

Key Features of Old Mutual Money Market Fund

  • Minimum of KES. 1,000 for the first deposit
  • Minimum of KES 1,000 for the regular top-ups
  • Use of USSD *480#
  • High liquidity

10. KCB Money Market Fund

Last but not least is KCB MMF on our list of the top money market funds in Kenya by assets under management. KCB requires a minimum of KES.5,000 as the initial deposit for the fund.

Unlike the rest on this list, Kcb has a monthly compounding of interests. It is also a high-liquidity fund where you are allowed to withdraw your money if you need it.

To start investing in the Kcb money market fund, you may need to send an email to

Key Features of KCB Money Market Fund

  • Minimum of KES. 5,000 for the initial deposit
  • No exit or entry fee
  • Monthly compounding of interests
  • High liquidity