Safaricom, together with GulfCap Investment Bank (GCIB), has launched the Ziidi Shari’ah Money Market Fund, offering M‑Pesa customers an investment product that follows Islamic finance principles.

The fund allows individuals and businesses to start investing with a minimum of Sh100, and additional contributions can be made in increments of Sh10, lowering the entry barrier for small‑scale investors.

Investors can access the product through Safaricom’s My OneApp or by dialing *334#, enabling digital sign‑up and management without visiting a bank branch.

The Capital Markets Authority regulates the fund, while GCIB’s Shari’ah Supervisory Board ensures compliance with Shari’ah guidelines.

According to GCIB CEO Saud Shahbal, the fund invests exclusively in short‑term, highly liquid instruments held by Shari’ah‑compliant banks, preserving capital and providing daily liquidity without interest (riba).

Customers can view daily profit, make free deposits, and withdraw funds directly to their M‑Pesa wallets at no cost, while also having the option to lock funds to encourage disciplined saving.

There is no upper limit on investment amounts, but standard M‑Pesa transaction caps apply: a daily ceiling of Sh500,000 and a per‑transaction limit of Sh250,000.

Safaricom CEO Peter Ndegwa highlighted the launch as part of the company’s financial‑inclusion drive, aiming to make investing simple, affordable and aligned with customers’ values.

The Ziidi Shari’ah fund will operate separately from Safaricom’s conventional Ziidi Money Market Fund, providing a distinct ethical investment option on the same digital platform.