Top 7 Money Market Funds in Kenya by Yield in 2024

Money market funds offer better interest rates than saving in a bank. You can also withdraw the money whenever you need to. There are so many money market funds that you can use to invest in. With all these options, it can be hard to decide on which one to go with. This post compares and helps you choose among the top money market funds in Kenya by yield.

7 High Yield Money Market Funds in Kenya

For you to enjoy your investments, you must get a good ROI. Before you join any money market fund, you need to match all your needs and meet your investment expectations. Here are the top high-yield money market funds in Kenya:

1. Cytonn Money Market Fund

First on this list is the Cytonn Money Market Fund. Cytonn Money Market Fund does not have initial charges for those looking to join. Therefore, you can be sure that the initial amount you started investing will remain safe with Cytonn.

The fund makes it easy for new investors to join. The interest in Cytonn depends on the current market trends, and they are very competitive.

According to the latest updates on average returns, Cytonn topped the list with a 10.8% interest.

The Key Features of Cytonn Money Market Fund

  • No hidden charges.
  • Daily compounding of interest.
  • Safety of initial capital
  • You can save in USD

Find Out: 10 Best Money Market Funds In Kenya

2. Apollo Money Market Fund

The Apollo money market is great for investors who do not want to start with a huge amount of investment. The fund has a KES 1,000 as the minimum investment and top-ups. 

To invest in this fund, you can deposit money through a cash deposit, cheque, direct debit orders, and standing orders. Apollo is perfect for investors looking for a fixed savings plan apart from the bank.

Apollo money market fund had an annual interest yield of 10.2% according to the latest updates on average returns.

The Key Features of Apollo Money Market Fund

  • Top-ups are to be deposited through cash deposits, direct debit orders, cheques, and standing orders.
  • Managed by APA Insurance.
  • 2% management fee annually

3. GenCap Hela Imara Money Market Fund

GenCap Hela Imara is the product of Genghis Capital Limited. This fund requires you to have a minimum of KES. 500 to invest and top up. The fund also has a maintenance fee of 2% yearly. 

The interest is also calculated and computed daily, but the whole amount is credited to the investor’s account monthly. These rates are published every day in newspapers and on Genghis social media pages. 

In addition, it is so easy to join this fund. You only need to download the G-Kuze App from the Google Play Store. You can also dial *895#.

This fund has recorded an annual interest of 10.1%.

Key Features of GenCap Hela Imara Money Market Fund

  • Regulated by Capital Markets authority.
  • Safe preservation of capital.
  • Withdrawal takes 2-4 days.
  • No loss of interest after withdrawal
  • Interest rates are published every day.

Find Out: A Guide To CIC Money Market Fund: How To Join The Fund

4. Zimele Money Market Fund

Zimele money market allows you to have a minimum of KES. 100 to invest and even for the top-ups. Zimele allows deposits from KCB, Standard Chartered, Swift codes, and ABSA bank. 

You can also make deposits using Mpesa. You can also easily withdraw from Zimele in 2-4 days. The fund provides constant statements to its investors.

Zimele Money market fund recorded a 9.9% interest rate based on the recent updates. You can join and start saving with Zimele Money Market Fund by filling out this form.

Key Features of Zimele Money Market Fund

  • Licensed and regulated by CMA
  • Low initial deposits.
  • There is no limit to how much you can save.

5. NCBA Money Market Fund

NCBA money market is CMA-approved, and that makes it reliable and genuine for investors to take part in. 

The minimum deposit limit is KES. 5,000. You also need KES. 5,000 minimum for regular top-ups. Also, you will be charged a 2% maintenance fee. 

NCBA MMF recorded a 9.9% annual interest.

Key Features of NCBA Money Market Fund

  • Managed by NCBA Group.
  • No entry or exit fee
  • Daily compounding of interest
  • 2% annual management fee

6. Sanlam Money Market Fund

This is another money market in Kenya with a high yield. Sanlam Money Market Fund requires a minimum of Ksh. 2,500 for the initial deposit and regular top-ups of at least Ksh. 1,000. 

Like the rest of the money market funds we have listed above, the interests are compounded every day, and the interests are sent to the investor every month.

Sanlam money market fund had an annual interest of up to 9.8% in the latest updates.

Key features of Sanlam Money Market Fund

  • Invests in treasury securities, corporate debts, and bank deposits
  • KES. 15 billion portfolio size
  • 1.2% annual management fee

7. Kuza Money Market

Kuza is another money market fund that you can invest in while in Kenya. The fund requires you to have a minimum of Ksh. 5,000 for the capital and subsequent top-ups of Ksh. 1,000. 

If you are into investing in the USD, then Kuza allows you to invest in the currency. The minimum initial investment for the USD account is $100, and a minimum of $50 for the top-ups.

The fund had an annual interest rate of 9.8% based on the recent updates.

Key Features of Kuza Money Market Fund

  • Safe preservation of capital
  • High liquidity
  • Invests in short-term securities with interest
  • 2% annual management fee