Best Money Market Funds in Kenya 2026: Complete Comparison Guide
Looking for the best place to invest your money in Kenya with low risk? Money Market Funds (MMFs) offer returns of 9-15% annually - significantly higher than savings accounts (2-5%) - while keeping your money relatively safe and accessible.
Top Money Market Funds Ranked (January 2026)
Based on December 2025 performance data:
| Rank | Fund | Gross Return | Net Return | Min. Investment | Management Fee |
| 1 | Cytonn MMF | 11.26% | 9.57% | KES 1,000 | 1.5% |
| 2 | Nabo Africa MMF | 11.11% | 9.45% | KES 1,000 | 1.5% |
| 3 | Etica MMF | 10.99% | 9.34% | KES 1,000 | 1.5% |
| 4 | Enwealth MMF | 10.54% | 8.96% | KES 1,000 | 1.75% |
| 5 | Lofty-Corban MMF | 10.53% | 8.95% | KES 1,000 | 1.75% |
| 6 | Zimele (Old Mutual) | 9.56% | 8.13% | KES 100 | 2% |
| 7 | CIC MMF | 8.71% | 7.40% | KES 5,000 | 2% |
Net returns are after 15% withholding tax on interest income
What is a Money Market Fund?
A Money Market Fund is a type of unit trust that pools money from many investors to buy low-risk, short-term securities like:
- Treasury bills (government debt)
- Commercial paper (corporate short-term debt)
- Bank deposits
Key benefits:
- Higher returns than savings accounts
- Low risk (invested in government securities)
- High liquidity (access money within 1-3 days)
- CMA-regulated (investor protection)
- Start with as little as KES 100
Detailed Fund Reviews
1. Cytonn Money Market Fund - Best Returns
Why it's #1: Consistently delivers the highest returns in the market at 11.26% gross.
- Minimum Investment: KES 1,000
- Management Fee: 1.5%
- Withdrawal Time: T+1 to T+3
- How to Invest: Via Cytonn app or website, M-Pesa
Best for: Investors prioritizing maximum returns
2. Zimele Money Market Fund - Best for Beginners
Why choose Zimele: Lowest minimum investment (KES 100) and trusted Old Mutual brand.
- Minimum Investment: KES 100
- Management Fee: 2%
- Withdrawal Time: T+2
- How to Invest: USSD *202#, agents, or online
Best for: First-time investors, low-income savers
3. CIC Money Market Fund - Most Stable
Why choose CIC: Largest fund by assets, backed by major insurance company.
- Minimum Investment: KES 5,000
- Management Fee: 2%
- Withdrawal Time: T+2
- How to Invest: CIC app or branches
Best for: Conservative investors, large deposits
MMF vs Savings Account vs SACCO
| Factor | MMF | Savings Account | SACCO |
| Returns | 9-15% | 2-5% | 8-14% (dividends) |
| Risk | Low | Very Low | Low-Medium |
| Liquidity | 1-3 days | Instant | Varies |
| Minimum | KES 100+ | KES 0 | KES 1,000+ |
| Regulation | CMA | CBK | SASRA |
How to Start Investing in MMFs
- Choose a fund based on returns, fees, and minimum
- Register online or via mobile app
- Complete KYC (National ID, KRA PIN)
- Deposit funds via M-Pesa or bank transfer
- Monitor returns through the app
Tax Implications
- 15% withholding tax on interest income
- Tax is deducted at source
- Net returns already account for tax
FAQs
Q: Are Money Market Funds safe?
A: Yes, MMFs are considered low-risk because they invest primarily in government securities and are regulated by the Capital Markets Authority (CMA).
Q: Can I lose money in an MMF?
A: While very rare, it's theoretically possible. However, Kenyan MMFs have never recorded losses due to their conservative investment strategy.
Q: How quickly can I access my money?
A: Typically 1-3 business days (T+1 to T+3).
Q: What's the difference between gross and net returns?
A: Gross return is before tax; net return is after the 15% withholding tax.
Conclusion
For most Kenyan investors, Cytonn MMF offers the best returns, while Zimele is ideal for beginners with its KES 100 minimum. If you prioritize stability and brand trust, consider CIC MMF.
Start with any amount you're comfortable with - even KES 100 - and watch your money grow faster than in a savings account.
Data sources: December 2025 MMF performance reports. Returns are historical and not guaranteed.