The Kenyan money markets experienced mixed movements in the first week of 2025, with significant changes observed in yields on government securities, money market funds, and bank placements
Yields on government papers recorded slight decreases, reflecting a reduction in borrowing costs, while liquidity in the money market remained adequate during the week that ended on January 9 supported by open-market operations. The Central Bank of Kenya reported that commercial banks’ excess reserves stood at KSh 28.8 billion in relation to the 4.25% cash reserves requirement (CRR). Interest rates in money market funds The Cytonn Money Market Fund, which had the highest interest rates among the money markets, saw its yield decrease by 23.0 bps to 16.6% in the week that ended on January 9, from 16.8% recorded the previous week. Funds such as Kuza and Mali Money Market Funds also performed commendably, with yields of 15.4% and 15.2%, respectively. However, yields on the lower end of the spectrum included the Stanbic Money Market Fund at 11.1% and the Equity Money Market Fund at 7.0%.
Below is a list of MMFs and the latest interest rates on January 10.
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% 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% AA Kenya Shillings Fund – 11.7% Stanbic Money Market Fund – 11.1% Equity Money Market Fund – 7.0%
Source: TUKO.co.ke
