A Total Beginners Guide To Investing In Money Market Funds In Kenya

Investing in Money Market Funds in Kenya

Written by Agatha

November 12, 2020

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If there was ever a year for #NewYearNewYou, it’s 2022.

The situation might be the same as 2021 in many ways, but the New Year will give us a chance to reset, to come up with new goals, to begin again, to forget and move on from some experiences, to start our wealth compounding journeys.

I know that saving more money will be in your list of resolutions because the chaos that was 2020 AND 2021 taught us the importance of a fat emergency fund.

To make sure you’re not left behind, I’ll teach you everything you need to know about Money Market Funds in Kenya.

It’s a perfect, easy and low-risk starting point for a beginner in investing and has many other advantages for all investors that I’ll tell you about after showing you an e-book of the most requested article on this blog in 2020 & 2021!

Drum rolls please…Tadaaaa!!! 🥳

 

 

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Introduction to Money Market Funds in Kenya for Beginners

 

If you’re a visual learner, we have a visual version of this on our YouTube Channel:

One of the ways you could invest your money is through collective investment schemes.

Think of it as yourself, Mary, Alex, James, Carole, Charles, Doreen, John and Edith contributing money in one account and then giving it to a professional money manager to invest it on your behalf.  That’s basically what a collective investment scheme is.

There are two types of collective investment schemes in Kenya. Mutual Funds and Unit Trusts.

Mutual Funds are “investment vehicles made up of a pool of money collected from many investors governed by a Company Act. It’s a corporate body, like a company.

Unit Trusts are “investment vehicles made up of a pool of money collected from many investors governed by a Trustee Act.”

You may not come across Mutual Funds in Kenya, you’ll mostly interact with Unit Trusts. Keep in mind that both Mutual Funds & Unit Trusts operate in the same way, but the purpose of this article is to explore Unit Trusts.

When you invest in a Mutual Fund, you get shares from the fund. When you invest in Unit Trusts, you get Units.

 

Investing in Money Market Funds in Kenya

Collective Investment Schemes (CIS) Flow Chart

As shown in the flow chart, there are different types of Unit Trusts:

  • Money Market Funds – The most common type of Unit Trust in Kenya.
  • Equity Funds – These primarily invest in shares.
  • Bond/Fixed Income Fund – These primarily invest in government bonds.
  • Balanced Funds – These primarily invest in both shares and bonds.

We will now focus on Money Market Funds but I will write other guides to teach you about Equity, Bond/Fixed and Balanced Funds.

 

What is a Money Market Fund?

 

Now that you understand what a unit trust is, it’s safe to define a Money Market Fund as a form of Unit Trust, therefore making it also form of collective investment scheme.

A Money Market Fund is managed by a professional money manager.

The professional money manager invests the money you put in Money Market Funds (MMFs) in different asset classes. MMFs predominantly invest in 3 asset classes commonly referred to as Money Market Instruments. These are:

  • Commercial paper – issued by corporations to finance their short-term cashflow needs.
  • Treasury bills – when the government borrows money from the public.
  • Fixed deposits – deposits in commercial banks.

These 3 are short-term investment instruments.

Think of a Money Market Fund as a big pie. When you buy a unit or units of the MMF you are in essence buying a piece of the pie that includes the commercial paper, treasury bills and fixed deposit. We can call an MMF investor a unit holder. Cool?

The professional money manager allocates the pool of funds to the 3 Money Market Instruments. In this way, the money manager works towards producing capital gains or an income for you as investors.

I am referring to the money managers as ‘professional’ because they have to be registered and regulated.  In Kenya, such companies are regulated by the Capital Markets Authority (CMA). The CMA has rules and regulations for companies who run such investments (those that involve collecting money from different people/investors).

 

Why Invest in a Money Market Fund?

 

MMFs are the best-known type of unit trusts available for individual investors like you.

They’re also a low-risk investment which makes it a safe investment for a beginner in investing or anyone who doesn’t want to have sleepless nights thinking about losing their investment. I guess that includes all of us?

Money Market Funds do not require a lot of money to start. With as low as Kshs 2,500 you can begin your wealth compounding journey.

 

Are Money Market Funds in Kenya safe?

 

Money Market Funds have unique characteristics that make them a low-risk investment.

 

  • The professional money/fund managers (companies) are regulated by CMA, a government entity.

The CMA has rules and regulations for companies who run such investments which makes your money protected.

Examples of such companies that offer Money Market Funds are Sanlam Investments Ltd, CIC Insurance, Britam and UAP Old Mutual. Make sure you use a licensed fund manager.

A professional money manager is responsible for coming up with an investment portfolio, which is a list of what they invest in. They’re also responsible for investing the money. However, they do not have access to your money. Who does? A custodian.

 

  • A Custodian is involved. This is the bank that the investors send the money to.

The Custodian’s role is to hold the money on behalf of the investors and release the money which is invested in the Money Market Instruments: commercial paper, fixed deposits and treasury bills.

The custodian also has to be approved by CMA.

The Fund/Money Manager instructs the custodian to invest the money as per the fund’s policy.

 

  • The Trustees

The trustee’s role is to look out for the investor’s interests.

They also have a responsibility to be a whistleblower in case they suspect fraud or other forms of malpractice.

They hold the fund manager and the custodian accountable.

The fund/money manager chooses the trustees (usually a bank or financial institution) who are then vetted by CMA.

 

  • The Auditor

The auditor audits/reviews the fund’s financial statements. The investors use these financial statements to assess the performance of the Money Market Fund.

These levels of accountability are what makes Money Market Funds low-risk. 

For example, CIC Asset Management Ltd (MMF fund manager) has Co-operative Bank as the Custodian, Kenya Commercial Bank (KCB) as the trustee and Ernst & Young as their auditor.  KCB is the largest bank in Kenya by asset base, which makes the CIC MMF safe in terms of liquidity.

Therefore, When deciding which Money Market Fund to invest in, you should focus more on who are the Custodians, Trustees and the auditor.

Having this knowledge before you pick a fund manager is important. You should ask the fund manager to tell you who their custodian, trustee and auditor are.

 

What interest rates should you expect? (Money Market Fund Return)

 

Between 4% and 10% annually.  The interest rate depends on the fund/money manager.

The interest rates vary depending on what the company decides to invest in. This is what brings about the difference in interest rates.

But remember; before you choose a money manager that offers the highest returns, ensure that they guarantee the safety of your initial investment. It is better to get a lower return but recover your principle than to be promised a higher return then end up losing everything.

I guess this is a perfect time to remind you that genuine wealth building is a ‘marathon, not a sprint?’.

And yes, MMFs are not a get rich quick scheme. You’ll never find such on The Wealth Tribe!

The interest is deposited to your account every month.

 

How do I invest in a Money Market Fund?

 

A. Pick a professional fund manager

 

Companies that offer Money Market Funds in Kenya include:

  • Sanlam Investments Limited
  • CIC Asset Management Ltd
  • UAP Old Mutual
  • ICEA Lion Group
  • Zimele
  • Stanlib
  • Britam
  • African Alliance

They always advertise their offers in the daily newspapers! You’ll need to choose one company or as many as you’d like to invest with.  I can’t tell you a specific one because my job here is to give you the tools and knowledge that put you in a position to make the decision yourself.

Investing in Money Market Funds In Kenya

Market Share of Collective Investment Schemes in Kenya

 

 

But, you can download the latest collective investment schemes report here that will show you the performance of the funds, market share of the various collective investment schemes, and trends in investments by the various unit trust funds.

You should do the due diligence by calling the company that you identify and also asking for referrals from your network. Ask them to share their experiences investing with a particular company. Make sure to ask both the good and the bad about the company but in the end, make an independent and informed decision.

The beautiful thing about living in today’s investment world is the existence of online reviews! Check those out and also call the company and ask all the questions you have.

 

B. Complete the application forms and provide your documents

 

Investing in an MMF as an individual is usually easy. All you need to do is complete an application form that the company provides and give them your personal documents which usually include:

  • ID copy or passport
  • KRA PIN Certificate
  • Bank details
  • Some companies also ask for a copy of a utility bill and/or complete residential details

Some will also require you to complete a risk assessment. Your risk appetite will help you determine how much risk you can take up which is great because you don’t want to invest in anything that keeps you awake all night!

For some companies, you don’t need to be physically present to open an account. You can do it from wherever! Which is awesome for everyone including those of us in the diaspora.

 

C. The sccchmonies!

 

And of course, you need money! Another advantage of investing in MMFs is that you don’t need loads of money to start.

You need Kshs 2,500 to start. Sometimes it’s lower, the specific company you choose will tell you their limit. But yes, with 2,500 you can start your journey towards compounding your wealth!

MMFs in Kenya

If you’re ready to open a Money Market Fund with either CIC Asset Management or with Sanlam (the two MMFs I recommend), please fill in your details in THIS FORM. I’ll contact you and help you set up your account in less than 24 hours!

 

What should you look for when choosing a Money Market Fund in Kenya?

 

After doing your online research, checking reviews and asking for referrals from your network, there are a few things you need to ask the company before you decide:

 

1. What is the past performance of the fund?

 

The company should have published this on their website and they should be able to send it to you.

CMA also publishes reports on the same.

 

2. What’s the minimum investment?

 

So that you’re ready! In case you also plan to do monthly top-ups, which you should, ask them how much the minimum top-up per month is.

The other awesome thing about MMFs is that there are no penalties if you miss a top-up.

Consistency is also a driver of wealth so it’s best if you commit yourself to top up every month.

 

3. What is the interest rate and do they offer deposit protection?

 

The higher the interest rate the better BUT be careful not to pick a fund that offers higher rates than the market average.

As Rookie says “when it comes to short-term investments, there’s very little a fund can do to differentiate its returns from the rest. If a fund is offering returns that are 3% upwards higher than its peers, it may be pursuing an aggressive investment strategy that may put your investment at risk.”

My Chama lost money through this mistake. We invested in a ‘High Yield’ Money Market Fund because the interest rate was attractive.  So yes, Money Market Funds can be risky. Pick a fund manager that offers a portal where you can monitor your fund’s performance because you need to be constantly on the know!

If the company you choose invests in high-risk investments, you can lose your money or make a very small return. For this reason, it is important to ask the fund manager for a list of their portfolio so that you know what they invest in before you give them your hard-earned money.

For your safety, make sure that the company you choose offers deposit protection. One of the greatest investing hacks is to ensure that you get ‘return of your money (initial investment)’ before you think of the ‘return from the money (interest)’

 

4. How long has the company been around and how has the fund performed in the last 5-10 years?

 

It’s safer to invest in older companies as compared to new ones especially if they have a good track record.

If a company has a consistent record of delivering what they promise, then it means they’re a safer option as compared to one whose performance fluctuates over the years.​

 

5. How much are the fees?

 

Yes, the professional money managers charge a fee for investing the money for you. The charges include management fees, processing fees, transaction fees, penalties etc.

If you’re not careful, these fees will eat up all your returns which can turn the investment into a loss or total waste of time.

You need to read this part carefully before you sign up.

The average fee is usually 2% of the invested amount. The best I’ve seen is 1.2% (this is where I remind you that you can hire me to help you in your investment journey as I’ve already done the homework).

Withdrawal charges are usually between 1 to 1.5% of the amount. You should also seek clarity on this from the company.

 

6. What are they investing in?

 

You don’t want them to invest in high-risk instruments that will lead to the loss of your money. The risk appetite assessment they ask you to fill will come handy here!

Ask them to share their portfolio.

 

7. Can I easily withdraw my money?

 

Unlike fixed deposits, Money Market Funds are great in that they offer liquidity (you can easily withdraw your money at any time)

However, you need to ask the specific company about their terms. How many days notice do they need for you to get your money? Most say 2-5 days but I’ve also seen some that you can access your money immediately which is great depending on your goals (we’ll talk about this later).

Also, ask them about the cost of withdrawing the money. I’d pick one that offers at least one free withdrawal per month to minimize the fees.

Related read:  How to invest in your 20s (A beginners guide)

 

Advantages of Money Market Funds

 

#1. The security of your investment.

 

Money Market Funds are licensed and regulated which makes your investment protected.

As I explained before, the functions of the fund manager, custodian, trustee and auditor are separated which also contributes to the security of your investment.

 

#2. Money  Market Funds are a great way to store your money which prevents spending.

 

It’s a better alternative than storing your money under your mattress which will cause your money to lose value. It’s also better than having your money in a current account because MMFs have better interest rates.

Have you noticed that people who are good with money are almost always ‘broke’? They never have loads of money just sitting in their current accounts or in cash because they’ve figured out that this leads to unplanned spending.

It’s also a good place to put your Christmas or end of year bonus or any other money that you receive in lump sum! You don’t have to be part of the gang that’s always broke in January!

 

#3. MMFs offer an easy way to cultivate a savings culture

 

If you’re struggling with building savings habits, a Money Market Fund is a good place to start because you can top-up your fund any time or on a weekly, monthly basis. Whatever works for you.

Having access to your money in cash or savings account makes it easier to spend, an MMF is great because there’s a small barrier to access.

You also earn compounding interest which is great motivation to keep going!

 

#4. You beat inflation

 

Since MMF interest rates are higher than inflation rates and also higher than rates offered by current accounts, you’re able to beat inflation and also make returns.

 

#5. You only need a small amount of money to start

 

This low entry requirement (Kshs 2,500) is great as it allows even low-income earners to invest in Money Market funds, unlike other investments that require loads of money to start.

This is an investment you should onboard even when living paycheck to paycheck because it’s a great way to store your emergency fund.

 

#6. Ease of access to your funds

 

If you decide to use a money market fund as your way of storing your emergency fund( which is what I advise my clients), you’re assured of ease of access. You can get your money within 2-5 days.

Some companies also offer one free withdrawal per month!

When you withdraw your money, you get your money plus the interest rate earned for ALL the days you were invested, unlike a fixed deposit account where you have to forfeit your interest if you withdraw before the timeline agreed.

 

#7. It’s a low-risk investment

 

Yaaay! And your returns compound while also guaranteeing capital preservation.

 

#8. Ease of entry and best place to start for beginners!

 

By now you have all the information you need to start calling a professional money manager, right?

 

#9. Ease of reinvestment of returns

 

You can easily reinvest your returns without incurring transaction costs. All you need to do is instruct your money manager to reinvest the money instead of sending it to you. This automation is great for you because you get to enjoy automatic compounding!

You don’t have this advantage when you invest in shares. You always incur multiple transaction costs when you want to reinvest your dividends that are automatically sent to your account. And sometimes the share price is usually already higher which makes it even more expensive to buy.

 

#10. MMFs can be used for retirement planning!

 

When old age finally catches up with you, (trust me, it will!) you can use your Money Market Fund account for retirement planning by instructing your fund manager to pay your monthly interest to your bank account.

 

Disadvantages of Money Market Funds

 

This is not a disadvantage per se, but I’d caution you not to think of MMFs as your ultimate investment vehicle. Use 10% return as the bare minimum for deciding which investments you should keep for the long term. Most MMFs offer less than 10% which is why I have a list of the 3 ways to use Money Market Funds below.

 

How can you use a Money Market Fund?

 

Seeing that most money market funds offer less than 10% interest, my advice is not to use them as your long-term investments such as your retirement savings.

They’re best used for:

Another  excellent  way to judge the returns of MMF is to look at how they perform against benchmark returns like the treasury bonds.

Never allow a return that’s less than the current treasury bond returns😄

  • To save and store your emergency fund as it offers ease of access.
  • Save and store money for your non-monthly expenses such as insurance, school fees, car maintenance, annual medical check-ups etc

Things to be cautious about when shopping for a Money Market Fund

 

1. What is their interest rate AFTER withholding tax (WHT)?

 

When companies advertise their Money Market Funds in the newspaper, they quote their interest  BEFORE withholding tax. This is a way for them to attract clients, and most people find out after they receive their first statement that the return quoted in the paper isn’t what they received.

Your returns are taxed at 15%, and 85% is what you receive in your account.

2. There’s never a 100% guarantee

 

As with any investment, there’s ALWAYS a footnote that we often forget to read before we sign the document. Money Market Funds can also give negative returns which could lead to loss of your capital. It’s important to keep this in mind, but this doesn’t mean you shouldn’t invest.

 

3. Some fund managers refer to MMFs as the Shilling Fund

 

Don’t get confused when you see Africa Alliance Unit Trust Scheme using the Shilling Fund to describe their MMF. It’s the same thing!

 

Why is it advantageous to invest in a Money Market Fund as opposed to investing directly into the money market instruments such as Treasury Bills/Bonds?

 

1. To invest in treasury bills and bonds, you need high capital.

 

The minimum you need to purchase a Treasury Bill is Ksh. 100,000. However, you can invest Ksh. 150,000 Ksh. 200,000, Ksh. 300,000 and so forth in multiples of Ksh 50,000 depending on your budget.

Treasury Bonds on the other hand require a minimum of Ksh. 50,000. However, some bond issues may specify that the minimum for a particular issue is Ksh 100,000. Always check the bond issue prospectus as all the information you need is normally included there.

This is why MMFs always win because the one-off investment you need to start your Fund off is usually very low. The Minimum Initial Investment varies from as low as Ksh 1,000 for funds such as Britam Money Market Fund to as high as Ksh 10,000 for funds like Apollo Money Market Fund. However, most MMFs require a minimum lump sum investment of Ksh 5,000 and voluntary minimum top-ups of Ksh 1,000 as and when you can make them.

 

2. The liquidity of your investment

 

For Treasury bills, you have to wait until your investment matures for you to have access to your money. You can cash in your MMF investment at any time.

 

3. The time factor

 

To invest in treasury bills and bonds, you have to submit forms to Central Bank of Kenya, place a bid and wait, and also participate in an auction. For MMFs, you can register at the comfort of your home.

If you have the time and the money, you should invest in treasury bills and bonds as there are advantages such as not being charged management fees and the fact that bonds have a higher return.

 

Other Frequently Asked Questions About MMFs in Kenya

 

How does the Money Market fund (MMF) work in Kenya?

 

A money market fund is an investment scheme where funds are pooled from many investors and is managed by a professional fund manager at a fee.

The fund manager is tasked with investing the pooled money in different asset classes. MMFs predominantly invest in 3 asset classes commonly referred to as Money Market Instruments. These are:

  • Commercial paper – issued by corporations to finance their short term cashflow needs.
  • Treasury bills – when the government borrows money from the public
  • Fixed deposits – deposits in commercial banks

How much should I invest in a Money Market Fund?

 

The Minimum Initial Investment varies from as low as Ksh 1,000 for funds such as Britam Money Market Fund to as high as Ksh 10,000 for funds like Apollo Money Market Fund. However, most MMFs require a minimum lump sum investment of Ksh 5,000 and voluntary minimum top-ups of Ksh 1,000 as and when you can make them.

 

Can money market funds lose money?

 

As with any investment, there’s ALWAYS a footnote that we often forget to read before we sign the document. Money Market Funds can also give negative returns which could lead to loss of your capital. It’s important to keep this in mind, but this doesn’t mean you shouldn’t invest.

Which is the safest money market fund in Kenya?

The following are the top 5 MMFs by yield as of 9th May 2021:

1. Cytonn Money Market Fund – 10.01%

2. Nabo Africa Money Market Fund – 9.65%

3. Zimele Money Market Fund – 9.65%

4. Alphafrica Kaisha Money Market Fund – 9.41%

5. GenCapHela Imara Money Market Fund – 9.16%

 

A caution to members of The Wealth Tribe: Don’t be moved by promised returns. Always ask yourself ‘where do these guys who have above average returns invest my money?’ A high yield fund is not an investment, it’s an investment vehicle. Just as with any vehicle, before you board, ask yourself, where is it going to?

When deciding which Money Market Fund to invest in, you should focus more on who are the Custodians, Trustees and the Auditor.

 

Which are the Top 5 Money Market Funds in Kenya by yield?

 

As of 9th May 2021, the following are the top 5 MMFs in Kenya:

1. Cytonn Money Market Fund – 10.53%

2. Nabo Africa Money Market Fund – 10.09%

3. Zimele Money Market Fund – 9.91%

4. Alphafrica Kaisha Money Market Fund – 9.82%

5. GenCapHela Imara Money Market Fund – 9.59%

MMFs in Kenya

If you’re ready to open a Money Market Fund with either CIC Asset Management or with Sanlam (the two MMFs I recommend), please fill in your details in this form. I’ll contact you and help you set up your account in less than 24 hours!

Next steps:

Read The Four Golden Rules of Investment Management so that you know how to manage your investment when you sign up.

invest in treasury bonds

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Do you have other questions about Money Market Funds? Leave your questions in the comment section. I read and answer all!

Share with your tribe!

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57 Comments

  1. Faith

    Such an informative read.
    Thank-you.

    Reply
    • Agatha

      Karibu sana!

      Reply
      • Blema Ngasamu

        Thanks for taking time to educate us on MMFs free of charge.
        I have seen Cytonn MMF top of the list yet it was on the news for bad reasons a couple of weeks ago.
        What’s your opinion about Cytonn?

        Reply
        • Agatha

          Hi Blema, you’re welcome. About Cytonn, I did put a disclaimer: A caution to members of The Wealth Tribe: Don’t be moved by promised returns. Always ask yourself ‘where do these guys who have above average returns invest my money?’ A high yield fund is not an investment, it’s an investment vehicle. Just as with any vehicle, before you board, ask yourself, where is it going to?

          When deciding which Money Market Fund to invest in, you should focus more on who are the Custodians, Trustees and the Auditor.

          Reply
  2. Jim

    Thanks for such a wonderful explanation…I am so humbled.

    Reply
    • Agatha

      Ow wow! 🤩 This made my day! Thanks for stopping by…

      Reply
  3. Gwako

    This blog-post and your blog generally is such a treasure, thank you for putting all this together! 🙂

    Reply
    • Agatha

      You’re welcome, Gwako! 😊

      Reply
    • Biteti

      I have read blogs Agatha but none can be compared to this. So detailed. Thank you

      Reply
      • Agatha

        Karibu sana!

        Reply
  4. Paul Mucheru

    Thank you for this detailed explanation. It is unmatched. And it is free. 🙂

    Reply
    • Agatha

      Welcome, Just playing my part in making sure everyone gets the best financial literacy content!

      Reply
      • Amoit

        You outdid yourself aki. Thank you for such great content. I am a beginner and I feel like I already know to much.
        I would appreciate you being my coach on such matters. I don’t have a lot to offer but I hope we can work something out.
        My contact +254707169982 I need your help in these matters please.

        Reply
        • Agatha

          Hi Amoit, thank you! I’ll definitely give you a call

          Reply
  5. jacqueline

    you made my afternoon,iam now way informed.thanks

    Reply
    • Agatha

      Karibu sana, Jacqueline!

      Reply
    • Richard

      Thank you for such a thoughtful and educative piece

      Reply
      • Agatha

        Welcome, Richard!

        Reply
  6. Charles Kisame

    Asante sana Agatha. Your tips are very enlighting.

    Reply
    • Agatha

      Karibu sana Charles!

      Reply
      • Brian

        Thank you and God bless you abundantly. Sasa I know the way to go as a student ndio nikuwe napata returns by the time am almost done with school..

        Reply
        • Agatha

          Wow! I can’t wait to see you flourish 🥳🥳🥳 You’ll definitely be wealthy for starting this early 🤑

          Reply
          • Ote

            Insightful content. Many couldn’t share such material but you’ve done. Be blessed a lot.

          • Agatha

            Thank you, Mark!

      • Dee

        Awesome read.All I needed to know about MMF.
        Thanks girl!
        Get in touch with me on 25472563992X.

        Reply
        • Agatha

          Welcome, I sure will!

          Reply
  7. Gitonga David

    This is amazing content Agatha. Very informing and easy to follow.

    Reply
    • Agatha

      Thanks, David!

      Reply
    • Wakonyo Peter

      Hello, I found your article above average in comparison to others. Are you an advisor or broker or whatever. Maybe you could be willing to help out personally. If so please reach me on +254795962443. I’d really appreciate.

      Reply
      • Agatha

        Hi Peter, Thanks. I’ll give you a call asap!

        Reply
        • Mr Naibei

          Very Useful information.
          Thank you very much.

          Reply
          • Agatha

            Welcome, Mr Naibei!

  8. Godfrey Thuranira

    This is excellent. Having worked in a custodian bank and now a teacher of financial markets and institutions, this piece is more than refreshing!
    God bless.

    Reply
    • Agatha

      Thank you, Godfrey!

      Reply
  9. Mark Ote

    Insightful content. Be blessed for sharing such material.

    Reply
  10. Victor

    Enlightened by this piece and also the more curious.
    When it comes to investing in MMFs 1. Do they also offer loans as Sacco’s do?
    2. Is it possible/advisable to open a joint account if you have the same goals, and if so is there a limit to the number you can have after selecting the signatories?

    Reply
    • Agatha

      Hi Victor,

      1. No, they don’t offer loans.
      2. Yes, it’s possible to open a joint account. About the limit, it’s best to confirm with the specific company you intend to open an account with.

      Reply
  11. Justus Kyalo

    Quite enlightening piece especially for beginners like me. Now I have an idea with which to approach a manager to help me invest some revenue am expecting. Thanks.

    Reply
    • Agatha

      Karibu sana, Justus

      Reply
  12. Paula Ochiel

    Thanks, Aggie! This is really helpful. As a beginner in the investing world, I’ve found myself coming back to this article many times. And I so appreciate the depth of information and how you’ve simplified everything. Keep it coming, girl!! Nicely done.

    Reply
    • Agatha

      Aaaaw! Thank you ☺️ Paula! I’m so glad that you’re on this journey 🤑

      Reply
  13. Ethan

    Hi Agatha , this was very helpful. Thank you.

    Reply
    • Agatha

      Welcome, Ethan!

      Reply
  14. Caleb

    I have been missing this kind of brilliant ideas. Keep us posted.

    Reply
    • Agatha

      Hi Caleb, I sure will!

      Reply
  15. Job Ngetich

    Thanks a lot for the very clear expalnation

    Reply
    • Agatha

      Welcome, Job!

      Reply
      • Irene

        Hi Agatha,can you imagine yesterday through TikTok it’s when i first heard of the word money market funds so i googled the meaning and here i am thank you so much,i have just realized that watu wengi wanajua more about Sacco but not money market funds nikiwa mmoja wao, again thank you

        Reply
        • Agatha

          Hi Irene, I’m so glad that Google led you here, karibu! And you’re not late, you can set up your MMF account and start today: I’ll email you about it.

          Reply
  16. Magdaline

    I just landed on your blog, and it seems like a treasure I have been missing out :)). The information is well articulated and very insightful. Thank you so much.

    Reply
    • Agatha

      Welcome to The Wealth Tribe, Magdaline! And thank you for your kind words 😊

      Reply
  17. Francis

    Thank you

    Reply
    • Agatha

      You’re most welcome!

      Reply
  18. Aggrey

    This article is exactly what I’ve been looking for. Thank you!

    Reply
    • Agatha

      Welcome, Aggrey!

      Reply
  19. joseph

    This is just superb stuff, big up Agatha

    Reply
    • Agatha

      Thank you, Joseph!

      Reply

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  1. What You Need to Know About Money Market Funds in Kenya – Knowledge Plug - […] Money market funds gain profit through pooling securities and later investing them to make interest. Clients invest in low-risk…

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