Safaricom has expanded its investment offering to Shariah-conscious savers and ethical investors through the Ziidi Shariah Money Market Fund, a Shariah-compliant investment product available to registered M-PESA customers.
The fund is managed by GulfCap Investment Bank (GCIB) and was approved by the Capital Markets Authority (CMA) as a standalone fund. It is designed for customers who want their investments to comply with Shariah principles, as well as individuals who simply prefer ethical investment options.
Unlike Safaricom’s conventional Ziidi Money Market Fund, Ziidi Shariah operates as a separate fund with its own structure and Shariah oversight. The fund invests in Shariah-compliant instruments, with the objective of preserving capital, providing liquidity and generating returns without interest (riba).
How much do you need to start?
Customers can start investing with as little as Sh100 making the fund accessible to people who want to build their savings gradually.
Subsequent contributions can be made in small amounts, allowing investors to adopt a regular savings and investment habit.
How do you access Ziidi Shariah?
Customers can access the fund digitally through Safaricom’s M-PESA ecosystem, including the M-PESA app, while customers without smartphones can use the available USSD option.
The product allows investors to monitor their investment and accumulated profit, make additional deposits and withdraw funds to their M-PESA wallets.
Who can invest?
Ziidi Shariah is not restricted to Muslims. The CMA says the fund targets registered M-PESA customers who either profess the Islamic faith or prefer Shariah-compliant financial products.
This gives the product a broader appeal among investors looking for an ethical alternative to conventional investment products.
Why does it matter?
The launch reflects the continued expansion of mobile-based investment products in Kenya and the growing integration of savings and investment services into the M-PESA ecosystem.
It also represents another step towards broadening access to Islamic finance and giving customers greater choice over how their money is invested.
Safaricom’s wider Ziidi strategy has increasingly positioned M-PESA beyond payments and transfers, bringing savings, investment and capital-market products closer to everyday users.
The conventional Ziidi Money Market Fund was approved by the CMA in November 2024, while the Ziidi Shariah Money Market Fund received regulatory approval in February 2025.
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