Safaricom Plc is opening its Ziidi Shari’ah Money Market Fund to its more than 41 million M-PESA customers, allowing them to invest from as little as Ksh 100 through the mobile-money platform.
The rollout gives Safaricom a new channel for reaching customers seeking investments that comply with Islamic finance principles, expanding the range of financial products available through M-PESA.
Customers can access the fund through My OneApp or by dialing *334#, with subsequent investments starting at Ksh 10. Deposits and withdrawals to M-PESA are free, while customers can also track their daily profits and lock funds.
The fund is managed by GulfCap Investment Bank and operates under the oversight of its Shari’ah Supervisory Board. It is regulated by the Capital Markets Authority and operates separately from Safaricom’s conventional Ziidi Money Market Fund.
Unlike conventional interest-bearing investments, the fund avoids riba, or interest, and invests in short-term, highly liquid instruments held with Shari’ah-compliant banks. Returns are generated from permissible investment activities.
Safaricom said the product is designed to make investing more accessible to customers who want their savings and investments to align with their religious or ethical principles.
“Financial inclusion is not just about access to money, but also ensuring that people have financial products that align with their needs and values,” Safaricom Chief Executive Officer Peter Ndegwa said.
The fund has no maximum investment limit, although M-PESA transaction limits apply. Customers can transfer up to Ksh 250,000 per transaction and Ksh 500,000 per day.
The expansion comes as Safaricom continues to deepen M-PESA beyond payments and transfers into savings, investments and other financial services. M-PESA generated Ksh 182.7 billion in revenue for Safaricom in the financial year ended March 2026.
Safaricom reported more than 41 million one-month-active M-PESA customers in its FY2026 investor presentation. Its conventional Ziidi Money Market Fund had about 2 million customers at the time, underscoring the scale of the platform available for additional financial products.
GulfCap Investment Bank Chief Executive Officer Saud Shahbal said the Shari’ah fund gives customers seeking Islamic and ethical investment options an avenue to participate in money-market investments without compromising their principles.
The Ziidi Shari’ah fund was approved by the CMA in 2025. The latest move centers on expanding customer access to the product through Safaricom’s M-PESA distribution network.
