Safaricom and Gulfcap Open Ziidi Shari’ah on M-pesa

In Short

Safaricom and Gulfcap Investment Bank have launched Ziidi Shari’ah Money Market Fund for M-PESA customers in Kenya. The product lets people start investing from KES 100.

What Happened

Safaricom said the Ziidi Shari’ah Money Market Fund is now available to customers and businesses through My OneApp and via USSD, which is the short code menu used on any phone, by dialling *334#.

A money market fund is a pooled investment that puts money into short-term, low-risk assets such as deposits and similar instruments. Ziidi Shari’ah follows Shari’ah principles, meaning it avoids interest, known as riba, and focuses on permissible activities.

Customers can start with KES 100, and top up from KES 10. They can view daily profit, deposit for free, and withdraw back to their M-PESA wallet at no cost, according to Safaricom.

The fund is regulated by Kenya’s Capital Markets Authority. Safaricom said it is overseen by Gulfcap Investment Bank’s Shari’ah Supervisory Board and operates separately from the conventional Ziidi Money Market Fund.

Safaricom also flagged existing transaction caps on M-PESA that apply here, including a daily limit of KES 500,000 and a per-transaction limit of KES 250,000.

Why It Matters

Ziidi Shari’ah adds an ethical and faith-aligned investing option inside M-PESA, which many Kenyans already use daily for payments, transfers, and merchant purchases.

It also lowers the entry barrier for investing. Small minimums and low top-ups can help households and micro businesses build a habit of saving, even with irregular cash flow.

For Safaricom, the launch is another step in pushing M-PESA beyond mobile money into a broader financial services platform that includes saving and investing, not just transactions.