Best Money Market Funds in Kenya

Last updated 18 Sept 2026

As of today we track 27 money market funds listings in Kenya, all real and verified, with rates spanning a 5.7pp range. Every figure below comes straight from our database — see the ranked table further down the page.

Why this comparison matters

Money market funds are marketed as broadly similar low-risk products, but the yield different fund managers declare varies, and that gap directly affects how fast idle cash actually grows — daily compounding means even a modest difference in yield adds up meaningfully over a year. Because an MMF is usually money you can move relatively easily (unlike a fixed deposit locked for a set term), it's worth periodically checking whether your current fund's yield still holds up against the rest of the market rather than assuming the fund you first picked is still competitive. The minimum initial investment and withdrawal turnaround also matter in practice, not just the yield — a fund with a slightly lower yield but same-day withdrawals may suit you better than a slightly higher-yielding one that takes several days to pay out when you need the cash.

What is it?

A money market fund (MMF) is a collective investment scheme, regulated in Kenya by the Capital Markets Authority, that pools investor money into short-term, low-risk instruments — Treasury bills, fixed deposits and commercial paper. Returns are usually quoted as an effective annual yield that compounds daily, and — like bank savings interest — MMF returns are subject to a 15% withholding tax, which is normally deducted before the yield reaches your account.

Common mistakes to avoid

• Comparing yields without checking whether they're quoted gross or net of the 15% withholding tax — an apples-to-oranges comparison flatters whichever fund quotes gross.
• Not checking the withdrawal turnaround time, then being surprised the money isn't available the same day it's needed.
• Assuming all MMFs are essentially interchangeable and never revisiting the choice once made, even as yields shift.
• Overlooking the minimum initial investment and top-up requirements, which can rule a fund out regardless of how attractive its yield looks.

What to compare

Effective annual yield

The headline number most funds are ranked on — check whether it's quoted gross or net of the 15% withholding tax before comparing across fund managers.

Minimum initial investment

Varies a lot between fund managers — some accept a few thousand shillings to start, others set a much higher bar.

Withdrawal turnaround

How many days it takes to actually get your money out once you request a withdrawal — this varies by fund manager and matters if you may need the cash on short notice.

Management fee

Deducted from the fund's returns before the yield is declared — already reflected in the quoted yield, but worth knowing since it's what you're paying the fund manager for.

Alternatives to consider

Our methodology

Every rate, fee and figure in the table above is pulled live from WeCompare's own database — the same data that powers the category comparison pages — not typed into this guide by hand. That means the numbers you see here update automatically as institutions publish new rates; they are never frozen at the moment this guide was written.

See how we source and verify every rate for the full methodology, or the “source” link on any row above for that specific product.

Frequently asked questions