Best money market funds in Kenya: ranked by yield
Yields as at 13 October 2026 · Fund size as at 30 June 2026 · 6 min read
Which money market fund (MMF) pays the most, not just this week but over recent weeks? Below are the 15 funds we track, ranked by their average after-tax yield over our last 3 weekly updates (to 13 October 2026). This is a ranking of published yields, not advice. The table ranks one number; the right fund depends on more than that.
The ranking
| Fund | Average after tax | This week's rank | Minimum (KSh) | Fund size |
|---|---|---|---|---|
| Cytonn | 9.34% | 1 | 1,000 | KSh 2.3bn |
| Orient Kasha | 9.25%* | 2 | 1,000 | KSh 435m |
| Nabo Africa | 9.24%* | 3 | 100,000 | KSh 7.6bn |
| Faulu | 9.20%* | 4 | 1,000 | KSh 317m |
| Lofty Corban | 9.01% | 6 | 1,000 | KSh 4.2bn |
| Arvocap | 8.95%* | 5 | 3,000 | KSh 1.3bn |
| Madison | 8.88%* | 7 | 5,000 | KSh 6.3bn |
| Kuza | 8.78% | 9 | 1,000 | KSh 2.4bn |
| Old Mutual | 8.77% | 8 | 1,000 | KSh 28.8bn |
| Jubilee | 8.65%* | 10 | 5,000 | KSh 13.6bn |
| Britam | 8.32% | 11 | 1,000 | KSh 16.0bn |
| Sanlam Allianz | 8.15% | 12 | 3,000 | KSh 127.8bn |
| Etica | 8.09% | 14 | 100 | KSh 12.9bn |
| CIC | 7.15% | 13 | 5,000 | KSh 71.0bn |
| ICEA Lion | 6.57% | 15 | 500 | KSh 20.6bn |
- Average after tax is each fund's published yield (after its management fee) less 15% withholding tax, averaged over our last 3 weekly updates. * means we've tracked the fund for fewer weeks, so its average covers only those weeks.
- This week's rank is its place by yield as at 13 October 2026. A fund that ranks high on both is consistently near the top.
- Fund size comes from the Capital Markets Authority's (CMA) quarterly report, so it lags by a few months.
As at 13 October 2026, the highest single yield is Cytonn, at 11.03% (9.38% after tax). The largest fund we track is Sanlam Allianz, managing KSh 127.8bn. For before-tax yields and what KSh 100,000 grows to, see money market fund rates this week, or work out your own amount in the money market fund calculator.
Why the top spot changes so often
Each fund's yield depends on what it holds: T-bills, bonds, bank deposits. It also depends on how much new money flows in. When a fund takes in a lot of cash, it has to invest it at today's rates, which can pull its yield up or down. Small funds feel this most. A fund can climb or fall several places in a single week.
So how much does the top spot matter? On KSh 100,000, the difference between the top fund and the middle of the table is about KSh 603 a year after tax. That's real money. But it can disappear the following week, and moving funds takes days, during which your money may earn nothing. Chasing last week's leader rarely makes a big difference to what you end up with.
What "best" depends on
- Yield after tax. Compare every fund on the same basis. The table already does this.
- Consistency. A fund that sits near the top week after week tells you more than one good week. See yields over time.
- Size and track record. A large fund with years of steady returns can spread its money over more borrowers. A small, new fund may pay more to attract savers.
- Minimum and top-ups. Minimums vary widely between funds. Check you can also add small amounts easily, for example by M-Pesa.
- Withdrawal time. Most funds pay out within 1–3 working days. Check how money reaches you, and whether M-Pesa or bank transfer charges apply.
- Fees. Published yields are already after the management fee, so the ranking accounts for it. Transfer charges, such as M-Pesa fees, are not in the yield.
- CMA approval. Every fund in our table appears in the CMA's latest quarterly report on approved collective investment schemes.
For how MMFs work in general, see money market funds in Kenya.
A short checklist before you invest
- Is the fund approved by the Capital Markets Authority? Check on the CMA website.
- What is the yield after 15% tax, and how has it moved over recent weeks?
- How big is the fund, and how long has it been running?
- What's the minimum to start and to top up?
- How fast can you withdraw, and what does it cost?
- Have you read the fund's key documents, such as its fact sheet?
What to watch for
- Yields far above everything else. Kenyan MMF yields tend to stay within a few percentage points of T-bill rates. The latest 364-day T-bill paid 9.04%; compare it in the T-bill calculator. A "fund" offering far more than the rest of the table is either taking much more risk or isn't what it claims to be.
- Unapproved schemes. Investment clubs, apps and social media groups sometimes call themselves money market funds. If it isn't approved by the CMA, it isn't one.
- Promises of guaranteed returns. MMF yields change daily and can fall. No genuine money market fund guarantees a return.
- No deposit insurance. An MMF is not a bank deposit, so it isn't covered by the Kenya Deposit Insurance Corporation.
Frequently asked questions
Which money market fund pays the highest rate in Kenya?
As at 13 October 2026, Cytonn had the highest published yield of the 15 funds we track, at 11.03% before tax, or 9.38% after 15% withholding tax. The top spot changes often, so check the latest rates.
Are published MMF yields before or after tax?
Published money market fund yields are after management fees but before the 15% withholding tax. Multiply by 0.85 to get the rate you keep.
Is the highest-paying money market fund the safest?
Not necessarily: a high yield on its own says nothing about how safe a fund is. Fund size, track record, what the fund invests in and CMA approval tell you more.
How often does the top money market fund change?
Often: a fund can rise or fall several places in a week as its holdings and inflows change. That's why this ranking averages recent weeks; see every fund week by week in yields over time.
For education only, not financial advice. This is a ranking of published yields, not a recommendation of any fund. Past yields don't guarantee future returns. Read each fund's documents before you invest.