Safaricom and GCIB launch Shari’ah-compliant investment fund for M-Pesa

Details: John Tanner; Category: Mobile Finance; 08 October 2026; 529 views

Kenyan telco Safaricom and Gulfcap Investment Bank (GCIB) said on Tuesday they have launched a Shari’ah-compliant money market fund for M-Pesa customers.

The Ziidi Shari’ah Money Market Fund is regulated by the Capital Markets Authority (CMA) and invests in accordance with Shari'ah principles under the oversight of GCIB's Shari'ah Supervisory Board. The fund operates independently from Safaricom's conventional Ziidi Money Market Fund.

Customers can track their daily profit, make free deposits into their Ziidi Shari'ah account and withdraw funds into their M-Pesa wallets at no cost, giving them flexibility to manage their investments according to their financial needs. Customers also have the option to lock funds to encourage disciplined investing and reduce unplanned withdrawals.

M-Pesa customers can start investing with as little as KES100 (US$0.77), with subsequent top-ups as low as KES 10. While there is no maximum investment limit, M-Pesa’s transaction limits will still apply, including a daily limit of KES500,000 and a per-transaction limit of KES250,000.

“Part of driving financial inclusion is about making financial services relevant to the different needs and circumstances of our customers,” said Safaricom CEO Peter Ndegwa. “With Ziidi Shari’ah, we are making investing simple, affordable and accessible, while providing an option that aligns with the values that guide our customers’ lives.”