Money market funds remain a practical option for Kenyans who want more than a basic savings account without taking on equity risk. They pool cash into short-term instruments such as Treasury bills and bank deposits, pay interest that usually beats ordinary savings rates, and allow relatively quick withdrawals. This guide sets out 10 useful CMA-regulated funds for 2026, how they work, and what to check before you put money in.
- Quick Comparison
- What is a money market fund?
- How this list was built
- Fund-by-fund notes (with official sites)
- 1. Nabo Africa Money Market Fund — nabocapital.com
- 2. Cytonn Money Market Fund — cytonn.com/money-market
- 3. Etica Money Market Fund — eticacap.com
- 4. Lofty-Corban Money Market Fund — loftycorban.com
- 5. Arvocap Money Market Fund — arvocap.com
- 6. Britam Money Market Fund — ke.britam.com
- 7. SanlamAllianz Money Market Fund — invest.sanlamallianzinvestments.com
- 8. Old Mutual Money Market Fund — oldmutual.co.ke
- 9. Gulfcap Money Market Fund
- 10. CIC Money Market Fund — ke.cicinsurancegroup.com
- Best fund by need
- Example: what KSh 10,000 might earn (illustration only)
- How to choose
- How to invest
- Are MMFs safe?
- MMF vs bank savings
- FAQs
Money market funds invest mainly in short-term government and bank paper. Yields change often. Confirm the latest fact sheet on each manager’s site before investing.
Disclaimer: Yields move with interest rates and fund strategy. Figures below are approximate ranges from public mid-to-late 2026 trackers. They are not guarantees. Confirm rates, fees and terms on the fund’s official site. This is general information, not personal financial advice.
Quick Comparison
| Rank | Fund | Manager / Site | Approx. gross yield* | Typical min. | Best for |
|---|---|---|---|---|---|
| 1 | Nabo Africa MMF | Nabo Capital | ~11–13%+ | Often higher; check current | Higher yield, larger sums |
| 2 | Cytonn MMF | Cytonn | ~11–12% | From ~KSh 100–1,000 | Yield + app / *809# |
| 3 | Etica MMF | Etica Capital | ~10–11% | From ~KSh 100 | Beginners, low entry |
| 4 | Lofty-Corban MMF | Lofty-Corban | ~10–11% | From ~KSh 1,000 | Growing challenger funds |
| 5 | Arvocap MMF | Arvocap | ~10–11% | From ~KSh 1,000+ | Steady yield options |
| 6 | Britam MMF | Britam | ~9–10%+ | From ~KSh 1,000 | Brand + easy access |
| 7 | SanlamAllianz MMF | Sanlam Allianz | ~9–10% | From ~KSh 2,500 | Large fund / stability |
| 8 | Old Mutual MMF | Old Mutual | ~9–10%+ | Often low entry | Beginners / brand reach |
| 9 | Gulfcap MMF | Gulfcap Asset Management (confirm via CMA list) | ~9–10%+ | Check fact sheet | Smaller high-yield names |
| 10 | CIC MMF | CIC | ~8–9%+ | From ~KSh 5,000 | Scale / large AUM |
*Approximate gross effective annual ranges from public mid–late 2026 industry tables. Net return is lower after 15% withholding tax. Rank is editorial (yield, access, size, usability), not an official CMA ranking.
What is a money market fund?
An MMF is a collective investment scheme. Many people put money into one pool. The manager places that pool in short-term, relatively liquid instruments: Treasury bills, bank deposits, and other CMA-allowed paper.
You earn from the interest those instruments pay. Units are valued daily. The rate is not fixed like a fixed deposit. The product is not a bank deposit and is not covered by deposit insurance.
Kenyans use MMFs for emergency cash, money waiting for a purchase, idle business funds, and as a first step before longer-term investing. Withdrawals are often processed in one to a few business days, depending on the fund.
How this list was built
We did not rank on yield alone. The list weighs:
- Recent and consistent published yields
- Minimum investment and top-up ease
- Withdrawal timing and payment options
- Fund size where known
- Track record and fact-sheet transparency
- CMA regulation as a unit trust
- Practical access for retail investors
Smaller funds can post higher weekly yields. Larger funds often pay a bit less but hold more assets and wider distribution. Both can make sense, depending on your goal.
Fund-by-fund notes (with official sites)
1. Nabo Africa Money Market Fund — nabocapital.com
Often near the top of weekly yield tables in 2026. Suited to investors who can meet the current minimum (historically higher; some channels lower). Digital onboarding and fact sheets are on the Nabo site. Check the latest KIID and fact sheet before applying.
Best for: Higher yield if you clear the minimum.
2. Cytonn Money Market Fund — cytonn.com/money-market
Regular top-tier performer. Access via app, client portal and *809#. Low entry for many investors. The regulated Cytonn MMF is separate from older Cytonn High Yield Solutions-type products. Use only the CMA-registered unit trust MMF.
Best for: Yield plus mobile access.
3. Etica Money Market Fund — eticacap.com
Often strong yields with a very low minimum (from about KSh 100). App and web portal available. Useful first step if you are starting small.
Best for: Beginners and small starting amounts.
4. Lofty-Corban Money Market Fund — loftycorban.com
Frequently in the upper yield band with a growing asset base. Minimums are typically accessible for retail investors. Client portal and product pages are on the firm site.
Best for: Mid-sized challenger fund with competitive yields.
5. Arvocap Money Market Fund — arvocap.com
Consistent mid-to-high performer in industry tables. Portal and product details are on the Arvocap site. Confirm current minimum and redemption rules on the fact sheet.
Best for: Steady yield without needing the absolute largest fund.
6. Britam Money Market Fund — ke.britam.com
Insurer-backed brand, broad distribution, app and USSD options for many customers. Yields often sit below the pure yield leaders but score on convenience.
Best for: Easy access and brand familiarity.
7. SanlamAllianz Money Market Fund — invest.sanlamallianzinvestments.com
Among the largest MMFs by assets. Scale can mean slightly lower peak yields but deeper process and reach. Minimum often from about KSh 2,500. One free withdrawal per month is a common published rule; extra withdrawals may attract a fee.
Best for: Investors who prefer a large, established fund.
8. Old Mutual Money Market Fund — oldmutual.co.ke
Long-standing brand with unit trust offerings. Low entry points on some channels make it workable for first-time savers. Confirm the exact MMF product and current fact sheet on the Old Mutual site.
Best for: Beginners and brand reach.
9. Gulfcap Money Market Fund
Smaller fund that has appeared among higher-yield names in industry rankings. Verify current CMA licence status, fact sheet and contact details before investing. Smaller AUM can mean more movement in weekly rankings.
Best for: Yield-focused investors comfortable checking a smaller fund’s documents carefully.
10. CIC Money Market Fund — ke.cicinsurancegroup.com
Large AUM and long market presence. Yields often sit below the aggressive top five. Many investors choose it for size and familiarity rather than peak weekly rate.
Best for: Scale and long-standing brand.
Best fund by need
- Beginners / low minimum: Etica, some Cytonn and Old Mutual entry points
- Higher recent yields: Nabo, Cytonn, Etica, Lofty-Corban, Arvocap (check latest week)
- Mobile / M-Pesa style access: Cytonn, Britam, Etica, SanlamAllianz channels
- Emergency cash: Funds with clear short redemption times
- Larger sums / stability bias: SanlamAllianz, CIC, Britam, Nabo if minimum fits
Example: what KSh 10,000 might earn (illustration only)
Assume a constant 10% gross effective annual yield and 15% WHT on interest (rough net ~8.5%). Real results differ by fund and day.
| Starting amount | Interest before tax @ 10% | Rough after 15% WHT |
|---|---|---|
| KSh 10,000 | KSh 1,000 | ~KSh 850 |
| KSh 50,000 | KSh 5,000 | ~KSh 4,250 |
| KSh 100,000 | KSh 10,000 | ~KSh 8,500 |
| KSh 1,000,000 | KSh 100,000 | ~KSh 85,000 |
Illustration only. Fees and daily yield changes affect the real figure.
How to choose
Do not pick only the highest advertised rate. Check net return after tax, minimum and top-up size, withdrawal days, how you deposit and redeem, fund size, and that the product is a CMA-regulated collective investment scheme. Read the fact sheet. If you need cash in 24–48 hours often, liquidity can matter more than a small yield gap.
How to invest
- Confirm the fund on the manager’s site and CMA licensee information.
- Read the current fact sheet and key investor information.
- Complete KYC (ID, KRA PIN, contacts).
- Fund via M-Pesa, bank transfer or the channel listed by the manager.
- Monitor statements and request redemptions as needed.
Read also:Business Ideas in Kenya You Can Start With KSh 1,000 to 10,000
Are MMFs safe?
They are generally lower risk than equity funds because of short-term instruments. They are not risk-free. Returns are not guaranteed. They are not bank deposits. Credit, liquidity and rate moves still matter. Use regulated funds, read documents, and treat high weekly yields as temporary, not permanent.
MMF vs bank savings
| Feature | MMF | Bank savings |
|---|---|---|
| Typical return | Often higher, variable | Usually lower |
| Risk | Low, not zero | Low; deposit rules may apply |
| Liquidity | High (fund rules apply) | Usually very high |
| Guaranteed return? | No | Per bank terms |
| Regulator | CMA (as CIS) | CBK / banking framework |
| Tax on interest | Typically 15% WHT | Bank interest tax rules |
FAQs
What is the best MMF in Kenya in 2026?
There is no single best fund. Recent yield leaders have included Nabo, Cytonn, Etica, Lofty-Corban and Arvocap. The right choice depends on minimum, liquidity and access.
Which has the highest returns?
It changes weekly. Check the manager’s fact sheet or a live tracker such as Serrari.
How much do I need to start?
Some funds from about KSh 100; many from KSh 1,000; a few higher.
Are returns guaranteed?
No.
How long do withdrawals take?
Often one to a few business days. Confirm on the fact sheet.
Do they charge fees?
Yes. Management fees are reflected in published yields. Read the fact sheet.
Are they regulated?
Licensed collective investment schemes are regulated by the Capital Markets Authority.
Can I use M-Pesa?
Many managers accept M-Pesa or mobile channels. Process varies.
How is income taxed?
Interest is typically subject to 15% withholding tax. Compare net yields.
Sources
- Nabo Capital
- Cytonn Money Market Fund
- Etica Capital MMF
- Lofty-Corban
- Arvocap Asset Managers
- Britam Money Market Fund
- Sanlam Allianz Investments
- Old Mutual Kenya
- CIC Kenya
- CMA licensee / collective investment scheme disclosures; public yield trackers (Serrari, Cytonn weekly tables, industry comparisons mid–late 2026)
Yields and minimums change. Always verify the current fact sheet and CMA status on the manager’s official site before investing. Not personalised investment advice.