Best Money Market Funds in Kenya: Ranked by Returns

Finding the best money market funds in Kenya can feel confusing, because there are 27 of them and the rates change every day. The good news is that the idea is simple. You put your money in a fund, the fund lends it out safely for short periods, and you earn daily interest. You can take your money out in a few days.

A look at money maret funds vs saccos, reveals money market funds are a smart home for emergency cash and short-term savings. They usually pay more than a normal bank savings account. This guide ranks the funds by what they pay right now, shows what you keep after tax, and explains each step in plain words. If you are still choosing where your money should go, start with our guide to the best investment options in Kenya.

Read next from a trusted source: Are money market funds safe in Kenya? (Serrari Group)

A high rate is only part of the story. You also need to check the fee, the minimum deposit and whether the manager is licensed. If your goal is to start small, our guide on how to invest at every income level in Kenya shows what to do with Ksh 500, Ksh 5,000 or more.

What is a money market fund?

A money market fund, or MMF, is a pool of money from many people. A professional fund manager uses the pool to buy safe, short-term things. These include Treasury bills, bank fixed deposits and top-quality company loans called commercial paper.

The interest from these assets is shared with investors. It is added to your account every day. Here is why people like MMFs:

• Easy to start: many funds accept Ksh 1,000 or less.
• Easy to get your cash: withdrawals usually take one to three working days.
• Regulated: the Capital Markets Authority (CMA) supervises these funds in Kenya.
• No lock-in: you can top up or take money out when you need to.

How we ranked the funds

We ranked the funds by their yearly return, called the effective annual rate. We used the daily rate table from Serrari Group, which tracks all CMA-regulated funds. The data is from 13 October 2026.

Three words matter when you read the numbers:

• Gross yield: the rate before tax. This is the big number funds advertise.
• Net yield: what you keep after the 15% withholding tax. This is the number that reaches your pocket.
• Management fee: what the fund charges each year. It is already taken out before the gross yield is announced.

Here is an easy example. If a fund pays 10% gross, the tax is 15% of that interest. So you keep 8.5%. The tax is collected for the Kenya Revenue Authority (KRA) by the fund manager. For most individuals, it is a final tax, so you do not declare it again.

Good to know: different websites show slightly different rates on the same day. Fund managers also change rates often. Treat this ranking as a starting point and confirm the rate with the manager before you deposit.

The top 10 money market funds in Kenya, ranked by returns

Here are the ten highest-paying funds on 13 October 2026. “Min.” is the smallest amount you can start with. “Size” is how much money the fund manages in total, in Ksh.

1. 1

   Cytonn Money Market Fund

   Cytonn Investments
   11.03%gross a year9.38% after tax

   Min.

   Ksh 1,000

   Fee

   2.00%

   Size

   Ksh 2.1B

   The top payer today, and it still starts at only Ksh 1,000. That is the lowest entry point of any fund in the top ten.

   Best overall yield
2. 2

   Orient Kasha Money Market Fund

   Orient
   10.93%gross a year9.29% after tax

   Min.

   Ksh 1,000

   Fee

   2.00%

   Size

   Ksh 434M

   A close second with the same small start. It is a smaller fund, so check its updates now and then.

   Strong yield, small start
3. 3

   Nabo Africa Money Market Fund

   Nabo Capital
   10.87%gross a year9.24% after tax

   Min.

   Ksh 100,000

   Fee

   2.25%

   Size

   Ksh 7.1B

   A top-three rate, but the entry ticket is high. It suits people with larger savings who want a bigger fund.

   Best for larger sums
4. 4

   Faulu Money Market Fund

   Faulu
   10.83%gross a year9.21% after tax

   Min.

   Ksh 1,000

   Fee

   2.00%

   Size

   Ksh 299M

   Pays almost the same as the leaders for the same Ksh 1,000 start. It is the smallest fund in the top five.

   Good value for small savers
5. 5

   Arvocap Money Market Fund

   ArvoCap
   10.57%gross a year8.98% after tax

   Min.

   Ksh 3,000

   Fee

   2.00%

   Size

   Ksh 550M

   A steady top-five fund with a slightly higher Ksh 3,000 minimum.

   Steady performer
6. 6

   Lofty Corban Money Market Fund

   Lofty-Corban Asset Managers
   10.53%gross a year8.95% after tax

   Min.

   Ksh 1,000

   Fee

   2.00%

   Size

   Ksh 4.4B

   A mid-sized fund with a good return and a low Ksh 1,000 start.

   Balanced size and yield
7. 7

   Madison Money Market Fund

   Madison Investment Managers
   10.45%gross a year8.88% after tax

   Min.

   Ksh 5,000

   Fee

   2.00%

   Size

   Ksh 6.0B

   A well-sized fund with solid returns. You need Ksh 5,000 to begin.

   Solid mid-size option
8. 8

   Old Mutual Money Market Fund

   Old Mutual
   10.32%gross a year8.77% after tax

   Min.

   Ksh 1,000

   Fee

   2.00%

   Size

   Ksh 26.7B

   A very large fund from a well-known brand that still pays above 10%. A good mix of size and return.

   Big brand, strong yield
9. 9

   Kuza Money Market Fund

   Kuza Asset Managers
   10.27%gross a year8.73% after tax

   Min.

   Ksh 1,000

   Fee

   2.00%

   Size

   Ksh 2.4B

   A good choice if you want a low start and a return above 10%.

   Low start, 10%+ yield
10. 10

    Jubilee Money Market Fund

    Jubilee
    10.13%gross a year8.61% after tax

    Min.

    Ksh 5,000

    Fee

    2.00%

    Size

    Ksh 12.5B

    A large, known name that rounds out the top ten with a Ksh 5,000 minimum.

    Large and established

Source: Serrari Group MMF rates, 13 October 2026. Yields are gross (before 15% tax) and can change daily.

All 27 money market funds at a glance

The bars below show each fund’s gross yield on a scale from 0% to 12%. Notice how wide the gap is. The top fund pays more than double the bottom fund. On Ksh 100,000 held for one year, that gap is about Ksh 5,150 after tax.

1. 1. Cytonn11.03%
2. 2. Orient Kasha10.93%
3. 3. Nabo Africa10.87%
4. 4. Faulu10.83%
5. 5. Arvocap10.57%
6. 6. Lofty Corban10.53%
7. 7. Madison10.45%
8. 8. Old Mutual10.32%
9. 9. Kuza10.27%
10. 10. Jubilee10.13%
11. 11. Britam9.81%
12. 12. GenAfrica9.54%
13. 13. Sanlam Allianz9.43%
14. 14. KCB9.31%
15. 15. Dry Associates9.15%
16. 16. Hela Imara8.85%
17. 17. CPF8.43%
18. 18. CIC8.41%
19. 19. African Alliance8.22%
20. 20. Etica8.21%
21. 21. Apollo (APA)8.16%
22. 22. NCBA Fixed Income8.05%
23. 23. Co-op8.04%
24. 24. ICEA Lion7.73%
25. 25. Ziidi (Safaricom)7.08%
26. 26. Stanbic5.33%
27. 27. Equity4.98%

Check what you could earn

Pick a fund and type in your amount. The calculator uses the net yield, which is the rate after 15% tax. It is an estimate for one year at today’s rate. Real rates move up and down.

Which fund is best for your goal?

The “best” fund depends on what you need. Use these quick matches.

Money market funds vs other options

An MMF is not the only safe place for cash. Here is how it compares in simple terms.

Many Kenyans mix these. They keep emergency money in an MMF and put longer-term money elsewhere. The Central Bank of Kenya held its rate at 8.75% on 8 October 2026. You can follow rate news on the Central Bank of Kenya website. Inflation is around 6.8%, so a net MMF yield of about 9% still beats rising prices by a small margin.

How to start investing in a money market fund

1. Set your goal.Decide what the money is for: an emergency fund, school fees, rent, or a business buffer.
2. Check the manager is licensed.Search for the fund on the CMA register of approved collective investment schemes before you send any money.
3. Compare net yield, fee and minimum.Use the ranking above, then confirm today’s rate with the manager.
4. Get your documents ready.You will usually need your ID, your KRA PIN, and your bank or M-Pesa details.
5. Open the account.Most managers let you sign up online, on an app, or by USSD. There is no central exchange. You deal directly with the fund manager.
6. Make your first deposit.Pay through M-Pesa or bank transfer. Keep the confirmation message and your statement.
7. Top up and review.Add money on a schedule, such as every payday. Check the rate each month, and move your money if the fund falls far behind its peers.

Risks and mistakes to avoid

Money market funds are low-risk, but they are not risk-free. Know these points before you invest.

• Returns are not guaranteed. The yield can go down when interest rates fall.
• No deposit insurance. Unlike a bank account, these funds are not covered by a deposit insurance scheme.
• Chasing the top rate only. A fund that tops the chart this week may not stay there. Look at fees, size and track record too.
• Ignoring tax. Always compare net yields. A 10% gross fund pays you about 8.5% after tax.
• Skipping the licence check. Only use managers on the CMA register.
• Putting everything in one fund. Spreading your savings across two funds or two asset types lowers your risk.

Beware of scams: no real fund can promise a fixed 20% or 30% return with no risk. If someone promises that, walk away and report it.

Frequently asked questions

The bottom line

The best money market funds in Kenya today pay between about 10% and 11% before tax, which is roughly 8.6% to 9.4% in your pocket. Cytonn, Orient Kasha, Nabo Africa, Faulu and Arvocap lead the table. But the right fund for you also depends on how much you can start with, how fast you may need your cash, and how comfortable you feel with the manager.

Pick two or three funds from the top of the list, confirm each one on the CMA register, and check the live rate before you deposit. Then review your choice every month or two.

Sources and notes

• Fund yields, fees, minimums and fund sizes: Serrari Group money market fund tracker, data as of 13 October 2026. Yields are effective annual rates before 15% withholding tax.
• Licensing: Capital Markets Authority register.
• Tax: Kenya Revenue Authority.
• Interest rates: Central Bank of Kenya.

Not financial advice. This article is for learning only. Rates change daily and past results do not promise future returns. Confirm every figure with the fund manager before you invest.