31 Money Market Funds in Kenya and Their Interest Rates in January 2025
The first week of January 2025 saw mixed trends in Kenya’s money markets, with shifts in yields on government securities, money market funds, and bank placements. Government securities experienced slight declines in yields, reflecting reduced borrowing costs. Meanwhile, the liquidity in the money market remained sufficient, supported by open-market operations.
According to the Central Bank of Kenya (CBK), commercial banks’ excess reserves totaled KSh 28.8 billion relative to the 4.25% cash reserves requirement (CRR) as of January 9, 2025.
Interest Rates in Money Market Funds
Money market funds showed varying performances, with the Cytonn Money Market Fund leading despite its yield declining by 23.0 basis points from 16.8% to 16.6% in the week ending January 9. Lofty-Corban and Gulfcap Money Market Funds followed closely, both offering a 16.3% return.
Among other well-performing funds, Kuza and Mali Money Market Funds recorded yields of 15.4% and 15.2%, respectively. In contrast, the Stanbic Money Market Fund offered 11.1%, while the Equity Money Market Fund reported the lowest yield at 7.0%.
Latest Interest Rates of Money Market Funds (As of January 10, 2025)
- Top Performing Funds:
- Cytonn Money Market Fund USD – 16.6%
- Lofty-Corban Money Market Fund – 16.3%
- Gulfcap Money Market Fund – 16.3%
- Etica Money Market Fund – 15.9%
- Ndovu Money Market Fund – 15.5%
- Kuza Money Market Fund – 15.4%
- Mali Money Market Fund – 15.2%
- Arvocap Money Market Fund – 15.1%
- Mid-Range Performers:
- Orient Kasha Money Market Fund – 14.2%
- Dry Associates Money Market Fund – 13.7%
- Sanlam Money Market Fund – 13.7%
- Madison Money Market Fund – 13.6%
- Faulu Money Market Fund – 13.6%
- Co-op Money Market Fund – 13.3%
- KCB Money Market Fund – 13.3%
- Nabo Africa Money Market Fund – 13.1%
- British-American Money Market Fund – 13.1%
- Genghis Money Market Fund – 13.0%
- Jubilee Money Market Fund – 12.9%
- Enwealth Money Market Fund – 12.9%
- Apollo Money Market Fund – 12.9%
- GenAfrica Money Market Fund – 12.8%
- Ziidi Money Market Fund – 12.8%
- Absa Shilling Money Market Fund – 12.7%
- CIC Money Market Fund – 12.7%
- Old Mutual Money Market Fund – 12.6%
- ICEA Lion Money Market Fund – 12.5%
- Mayfair Money Market Fund – 12.1%
- Lower-Yielding Funds:
- AA Kenya Shillings Fund – 11.7%
- Stanbic Money Market Fund – 11.1%
- Equity Money Market Fund – 7.0%
Conclusion
While Cytonn Money Market Fund maintained the highest interest rates, its slight decline indicated dynamic shifts in the financial landscape. Other funds like Lofty-Corban, Gulfcap, and Kuza continued to offer competitive returns, while some, such as Equity Money Market Fund, lagged significantly. As market trends evolve, investors should closely monitor these rates to make informed decisions.
