Safaricom, GCIB Launch Ziidi Shari’ah Fund in Kenya

Safaricom and GCIB have launched the Ziidi Shari’ah fund, giving M-PESA customers access to Shari’ah-compliant investing starting from KES 100. This new offering allows users to manage their investments directly through the mobile platform they already trust.

How the Ziidi Shari’ah Fund Works

The fund is available through Safaricom’s My OneApp and the *334# USSD channel, bringing Shari’ah-compliant investing into the same mobile ecosystem customers use for everyday financial services. Subsequent contributions start at KES 10.

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The fund is regulated by Kenya’s Capital Markets Authority (CMA) and operates separately from Safaricom’s conventional Ziidi Money Market Fund. GCIB manages the investment product under the oversight of its Shari’ah Supervisory Board.

Customers can monitor their daily profit, deposit funds at no charge, and withdraw into their M-PESA wallets without a withdrawal fee. They can also lock funds to encourage longer-term saving.

There is no maximum investment amount set by the fund, although normal M-PESA limits apply, including a KES 500,000 daily transaction limit and KES 250,000 per-transaction limit.

Shari’ah Compliance and Investment Strategy

The fund invests in instruments that comply with Islamic finance principles, excluding activities prohibited under Shari’ah rules. The launch expands Safaricom’s role in Kenya’s financial-services market beyond payments and transfers.

The company already offers the conventional Ziidi Money Market Fund, which the CMA approved in November 2024 for access through M-PESA. This Shari’ah product gives customers who require or prefer Islamic finance another investment option without needing to leave the M-PESA ecosystem.

For Safaricom, the partnership with GCIB combines its large digital customer base and distribution channels with GCIB’s investment-management and Shari’ah expertise. The launch also adds another regulated product to Kenya’s growing Islamic-finance market.

The CMA approved GCIB’s registration of the Ziidi Shari’ah Money Market Fund in February 2025 to serve M-PESA customers seeking ethical investment options. The number of licensed firms offering Shari’ah-compliant unit trust funds in Kenya has now reached seven.

Why it Matters to African Fintechs

The partnership shows how Africa’s mobile-money infrastructure is increasingly becoming a distribution layer for savings and investment products, not just payments.

For fintechs, the opportunity is significant: customers do not necessarily need a separate investment app or complex onboarding process when financial products can be embedded into platforms they already use.

For Kenya’s market, the Ziidi Shari’ah fund also illustrates how mobile distribution can widen access to specialised financial products, including those built around specific ethical or religious investment requirements.