Best Money Market Funds in Kenya 2026
Ranked by yield, liquidity & fund manager stability — updated with live data from CMA-regulated managers.
📌 Key Takeaways
- Kenya's top MMFs are currently yielding 14–18% annually (April 2026)
- All listed funds are CMA-regulated and licensed under the Capital Markets Act
- Minimum investment starts as low as KES 100 (Zidi by Sanlam)
- Most funds offer T+1 liquidity — your money is accessible within 24 hours
- 15% Withholding Tax (WHT) applies on all MMF gains — factor this into net yield
What Is a Money Market Fund?
A Money Market Fund (MMF) is a collective investment scheme that pools investor funds and places them in short-term, high-quality debt instruments — primarily Treasury Bills, commercial paper, and bank deposits. In Kenya, all MMFs are regulated by the Capital Markets Authority (CMA) and must comply with strict investment guidelines.
For most Kenyan retail investors, an MMF is the single best alternative to leaving money in a savings account earning 3–5%. The best MMFs currently yield 3–4× that rate with similar — or better — accessibility.
Top 10 MMFs in Kenya (April 2026)
| # | Fund Name | Yield (Gross) | Min. Investment | Liquidity |
|---|---|---|---|---|
| 1 | Zidi by Sanlam Best Yield | 18.2% | KES 100 | T+1 |
| 2 | Etica Capital MMF | 18.0% | KES 1,000 | T+1 |
| 3 | CIC Money Market Fund | 17.5% | KES 1,000 | T+1 |
| 4 | Britam MMF | 16.8% | KES 1,000 | T+2 |
| 5 | NCBA MMF | 16.5% | KES 5,000 | T+1 |
| 6 | Cytonn MMF | 16.2% | KES 1,000 | T+3 |
| 7 | Old Mutual MMF | 15.8% | KES 1,000 | T+1 |
| 8 | Sanlam MMF | 15.5% | KES 500 | T+1 |
| 9 | Dry Associates MMF | 15.2% | KES 1,000 | T+2 |
| 10 | ICEA Lion MMF | 14.8% | KES 1,000 | T+1 |
* Yields are gross (before 15% WHT). Net yield = Gross × 0.85. Data sourced from fund manager fact sheets, April 2026.
Understanding Net vs Gross Yield
All MMF returns in Kenya are subject to a 15% Withholding Tax (WHT) deducted at source by the fund manager before crediting your account. This means:
Example — Zidi MMF at 18.2% gross on KES 1,000,000:
Gross Return
KES 182,000
WHT (15%)
− KES 27,300
Net Return
KES 154,700
What to Look for When Choosing an MMF
Beyond yield, consider these five factors:
1. Liquidity
How quickly can you access your money? T+1 means you get funds within 24 hours of a redemption request — ideal for emergency funds.
2. Fund Manager Reputation
CMA-regulated fund managers include Britam, CIC, Sanlam, and NCBA. Stick to managers with audited track records and large AUM (Assets Under Management).
3. Minimum Investment
Some funds accept as little as KES 100 (Zidi), while others require KES 5,000–10,000 upfront. Choose based on your available capital.
4. Management Fees
Most MMFs charge 1.5–2.5% in annual management fees, which are already deducted before the advertised yield. Ask for the after-fees yield.
5. Investment Portfolio Composition
The best funds hold at least 60% in T-Bills and CBK instruments. Avoid funds with high concentrations in corporate paper from unrated issuers.
MMF vs Savings Account: The Real Cost of Inaction
The average Kenyan savings account pays 3.5% per year. Leaving KES 500,000 in a savings account vs the top MMF for 5 years costs you:
Opportunity Cost: KES 214,000+ over 5 years
Savings account: KES 597,000 final value. Top MMF: KES 811,000 final value. Same principal, same 5 years.
How to Open an MMF Account
- 1Visit the fund manager's website or download their app (e.g. Zidi, CIC m-Fanisi, Sanlam)
- 2Complete the KYC process — you'll need your National ID and a selfie
- 3Link your M-Pesa number or bank account for deposits and withdrawals
- 4Make your first deposit — most accept M-Pesa directly
- 5Start earning daily accrued interest from day 1
Compare all MMFs side-by-side
Use Sentill's live comparison tool — select up to 3 funds and see yield, risk, and liquidity in one screen.
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