Best Money Market Funds in Kenya (2026), Ranked by Yield

All 32 CMA-licensed money market funds, ranked by their latest effective annual yield. Figures are gross (before the 15% withholding tax); the Net column shows your approximate take-home. Snapshot of June 19, 2026.

Top yield 13.2% Field average 9.1% 32 funds Updated June 19, 2026

Nabo Africa

Nabo Capital

13.2% gross

11.22% after tax

Cytonn

Cytonn Asset Managers

12.0% gross

10.20% after tax

Etica

Etica Capital

11.0% gross

9.35% after tax

Full ranking: 32 money market funds

#	Fund	Manager	Gross yield	Net (after 15% WHT)
1	Nabo Africa MMF	Nabo Capital	13.2%	11.22%
2	Cytonn MMF	Cytonn Asset Managers	12.0%	10.20%
3	Etica MMF	Etica Capital	11.0%	9.35%
4	Lofty-Corban MMF	Lofty-Corban Investments	10.6%	9.01%
5	Enwealth MMF	Enwealth Capital	10.5%	8.93%
6	Ndovu MMF	Ndovu Wealth	10.5%	8.93%
7	Madison MMF	Madison Investment Managers	10.4%	8.84%
8	Arvocap MMF	Arvocap Asset Managers	10.4%	8.84%
9	Kuza MMF	Kuza Asset Management	10.4%	8.84%
10	Faulu MMF	Faulu Investment Management	10.4%	8.84%
11	Old Mutual MMF	Old Mutual Investment Group	10.1%	8.59%
12	Gulfcap MMF	Gulfcap Asset Management	10.1%	8.59%
13	Jubilee MMF	Jubilee Financial Services	10.0%	8.50%
14	Orient Kasha MMF	Orient Asset Managers	10.0%	8.50%
15	British-American (Britam) MMF	Britam Asset Managers	9.7%	8.25%
16	Apollo MMF	Apollo Asset Management	9.2%	7.82%
17	Dry Associates MMF	Dry Associates Investment Bank	9.1%	7.74%
18	GenAfrica MMF	GenAfrica Asset Managers	9.1%	7.74%
19	KCB MMF	KCB Asset Management	9.0%	7.65%
20	Genghis MMF	Genghis Capital	8.9%	7.57%
21	SanlamAllianz MMF	SanlamAllianz Investments	8.9%	7.57%
22	CIC MMF	CIC Asset Management	8.4%	7.14%
23	CPF MMF	CPF Financial Services	8.1%	6.89%
24	Mali MMF	Genghis Capital (Safaricom Mali)	8.0%	6.80%
25	Co-op MMF	Co-op Trust Investment Services	8.0%	6.80%
26	Mayfair MMF	Mayfair Asset Managers	7.7%	6.55%
27	ICEA Lion MMF	ICEA Lion Asset Management	7.6%	6.46%
28	Absa Shilling MMF	Absa Asset Management	7.1%	6.04%
29	Ziidi MMF	Standard Investment Bank (Safaricom Ziidi)	6.0%	5.10%
30	AA Kenya Shillings Fund	African Alliance Kenya	6.0%	5.10%
31	Stanbic MMF	SBG Securities (Stanbic)	5.2%	4.42%
32	Equity MMF	Equity Investment Bank	5.1%	4.34%

Source: Business Daily weekly money market fund table, compiled from fund-manager daily yield publications. Gross = annualised, net of management fees, before tax. Net = gross less 15% withholding tax (a final tax). Yields are variable and change weekly.

See what your money would earn

Plug any amount and fund yield into the calculator to project your daily, monthly and annual returns, after the 15% tax.

Money Market Fund Calculator

How to read these yields

A money market fund (MMF) pools your money with other investors and lends it to low-risk borrowers: the government (Treasury bills), banks (fixed deposits) and blue-chip companies (commercial paper). The interest, minus a small management fee, is what you earn. Funds publish two numbers:

Daily yield: the annualised return for a single day. It moves slightly every day.
Effective annual yield: the daily yield compounded over a year. This is the headline figure used in the ranking above and the fairest way to compare funds.

Every figure here is gross, before the 15% withholding tax that the fund deducts before paying you. That tax is final, so a 12.0% gross fund actually puts about 10.20% in your pocket. Always compare funds on the net number for money that is staying invested.

Yield is not the only thing that matters

The top of the table changes almost every week, and chasing the single highest number is rarely wise. Before you choose, weigh:

Licence: only invest in a CMA-licensed fund. Every fund on this page is licensed.
Size and track record: a large fund with a multi-year record is harder to disrupt than a tiny new one offering a headline-grabbing rate.
Fees: the management fee is already inside the published yield, but it is worth knowing (typically 1.5% to 2% a year).
Minimum: from about KES 100 (Etica, Mali, Ziidi) to KES 1,000 for many funds, up to KES 1,000,000 for a few.
Withdrawal speed: most funds pay out in one to three business days. Confirm before you commit money you may need fast.

A sensible approach: build a shortlist of two or three trusted, licensed funds first, then compare their net yields, rather than blindly picking this week's number one.

Money market funds in Kenya: FAQ

Which money market fund pays the highest interest in Kenya right now?

As of June 19, 2026, Nabo Africa led at 13.2% gross effective annual yield, followed by Cytonn at 12.0% and Etica at 11.0%. Rankings shift week to week with the Central Bank Rate, so use the table above for the latest snapshot.

Are money market fund returns taxed in Kenya?

Yes. Interest is subject to 15% withholding tax, deducted at source and treated as a final tax. The headline yield funds publish is gross (before tax), so your take-home is roughly the gross yield times 0.85. The Net column in the table applies that 15% for you.

Are money market funds safe in Kenya?

All the funds listed are Capital Markets Authority (CMA) licensed collective investment schemes that hold low-risk, near-cash assets such as Treasury bills, fixed deposits and commercial paper. They are not capital-guaranteed and are not covered by the KDIC bank-deposit scheme, but they sit among the lower-risk investment options. Sticking to large, reputable, licensed funds reduces risk further.

How much do I need to start a money market fund in Kenya?

Entry minimums vary widely. Some funds start as low as KES 100 (for example Etica, Mali and Ziidi), many popular funds start at KES 1,000, and a few (such as Nabo) require KES 1,000,000 or more. Always confirm the current minimum with the fund manager.

Is the highest-yielding fund always the best choice?

No. Yield is only one factor. Also weigh the fund size and track record, the CMA licence, the management fee, the minimum investment, and how fast you can withdraw (most funds pay out in one to three business days). For money you may need quickly, a large, well-run fund with a slightly lower yield can be the smarter pick.

How often do money market fund rates change in Kenya?

Fund managers publish daily yields that move with market interest rates, and the widely-cited Business Daily table refreshes weekly. Treat any single figure as a point-in-time snapshot, not a fixed or guaranteed rate.

Disclaimer: This page is for general information only and is not financial advice. Yields are indicative, variable, and change frequently; past performance does not guarantee future returns. Always confirm current rates, fees and terms directly with the fund manager and read the fund's information memorandum before investing. PesaCalc is not a licensed investment adviser. Figures last reviewed June 19, 2026.