Best Money Market Fund Rates in Kenya (5 June 2026, Updated Weekly)
Important
Executive Summary:
- This is the full league table of Kenyan money market fund yields, refreshed weekly from the industry table the financial press publishes. Rankings shown are as of 5 June 2026.
- This week Nabo Africa leads at 12.8%, the field averages about 9.1%, and yields run from 12.8% down to 5.1% (a 7.7 point spread across 32 funds).
- The highest headline yield is not automatically your best choice. Size, trust, fees and how fast you can withdraw matter too. Read the rate net of tax and pair it with the fund’s track record.
When a Kenyan asks which money market fund pays the most, the honest answer is that it depends on the week, because the rankings move. The number a friend screenshotted three months ago may already be out of date. This page keeps the whole field in one place and refreshes it from the published industry table, so you can read the current order instead of a stale headline. You can also see how to read a rate before you compare.
The best money market fund rates in Kenya right now
Rankings as of 5 June 2026, taken from Cytonn Weekly #22/2026 (which republishes the Business Daily industry table covering every licensed fund manager). The figures are gross effective annual yields, before the 15% withholding tax.
| Rank | Money Market Fund | Effective Annual Yield (%) |
|---|---|---|
| 1 | Nabo Africa | 12.8 |
| 2 | Cytonn | 12.0 |
| 3 | Etica | 11.2 |
| 4 | Lofty-Corban | 10.7 |
| 5 | Arvocap | 10.6 |
| 6 | Enwealth | 10.6 |
| 7 | Faulu | 10.5 |
| 8 | Ndovu | 10.5 |
| 9 | Kuza | 10.5 |
| 10 | Orient Kasha | 10.2 |
| 11 | Jubilee | 10.2 |
| 12 | Old Mutual | 10.1 |
| 13 | Gulfcap | 10.1 |
| 14 | Madison | 9.9 |
| 15 | GenAfrica | 9.8 |
| 16 | British-American | 9.5 |
| 17 | SanlamAllianz | 9.1 |
| 18 | Apollo | 9.1 |
| 19 | Dry Associates | 9.1 |
| 20 | Genghis | 8.9 |
| 21 | KCB | 8.7 |
| 22 | CIC | 8.4 |
| 23 | CPF | 8.1 |
| 24 | Co-op | 7.9 |
| 25 | Mali | 7.9 |
| 26 | Mayfair | 7.7 |
| 27 | ICEA Lion | 7.6 |
| 28 | Absa Shilling | 7.3 |
| 29 | Ziidi | 6.1 |
| 30 | AA Kenya Shillings Fund | 6.0 |
| 31 | Stanbic | 5.3 |
| 32 | Equity | 5.1 |
Across the 32 funds listed, the industry average is about 9.1% and the spread runs from 12.8% at the top to 5.1% at the bottom. Picking well inside that spread is worth real money on a large balance, but only after you have read each number net of tax.
How these MMF rates compare to Treasury bills
The risk-free benchmark in Kenya is the 91-day Treasury bill, which currently pays about 8.56% (as of 08/06/2026). Money market funds hold a large share of Treasury bills, so a good MMF should at least keep pace with the bill. This week the industry average of 9.1% and the top fund at 12.8% both sit above the 91-day rate, which is exactly what you want: the fund earning a little more than the government paper it holds. When the Central Bank Rate (currently 8.75%) falls, the Treasury bill and these MMF yields fall with it. See Kenya interest rates today for every headline rate side by side.
How to read this table without being misled
A headline yield is not the money that lands in your account. Two adjustments matter before you compare:
- Gross becomes net. Kenyan MMF returns are quoted gross. A 15% withholding tax is deducted, so a 10% gross headline is roughly 8.5% net. Compare funds net to net.
- Daily yield is not the annual rate. Some managers advertise a daily or 7-day annualised figure, others the effective annual rate. Make sure you are comparing the same measure. The full walkthrough is in how to read a Kenyan MMF rate.
Why the top of the table is not always your best pick
The fund with the highest number this week is not automatically the right home for your money, especially your emergency fund. Three things matter alongside yield:
- Size and trust. A large, long-established fund has earned years of inflows, which signals stability and the liquidity to pay withdrawals smoothly. See the largest funds by AUM.
- Safety and regulation. Confirm the fund is CMA-licensed before you chase a rate. Is an MMF safe in Kenya explains what protects your money and what does not.
- Access and fees. Minimums, withdrawal speed and app quality vary widely. A slightly lower yield with same-day access can beat a higher one you cannot reach quickly.
The Sanlam money market fund sits around 9.1% this week (rank 17 of 32), mid-table on raw yield but at the very top of the market on size and trust. That combination of scale, a solid net return and a free planning terminal is why the Sanlam Money Market Fund is a sensible default for a beginner, with room to diversify into others as you learn. For the full checklist, see how to choose the best money market fund.
How fresh these numbers are
Two feeds keep this page current:
- Weekly, every fund. The industry table above is refreshed from the latest weekly markets report, which republishes the Business Daily league table of all licensed managers.
- Daily, the leaders. For the largest funds (Sanlam, CIC and Old Mutual), the underlying yields are checked daily against each manager’s own published figures, so a sharp move shows up quickly.
Rates move with the Central Bank rate and market conditions, so treat any single snapshot as a point in time, not a promise.
Frequently Asked Questions
Which money market fund has the best rate in Kenya right now? As of 5 June 2026, Nabo Africa leads the published industry table at 12.8% gross effective annual yield. The order changes from week to week, and the highest headline is before tax, so always compare funds net of the 15% withholding tax.
What is the average money market fund yield in Kenya? Across the 32 funds in the latest industry table, the average effective annual yield is about 9.1% gross. Individual funds range from roughly 5.1% to 12.8%.
Is the highest-yielding money market fund the best one to choose? Not necessarily. Yield is one factor. A fund’s size, CMA licence, fees, minimums and withdrawal speed matter too, especially for money you may need quickly. Build a shortlist of trusted, licensed funds first, then compare net yields within it.
How often do these MMF rates change? The industry table is published weekly, and individual funds adjust their yields as market rates move. This page is refreshed from the latest weekly report, with the largest funds checked daily.
Are these rates before or after tax? Before tax. The yields shown are gross effective annual rates. A 15% withholding tax is deducted on Kenyan MMF income, so your net return is lower than the headline.
Keep reading: see how rates have moved over time, learn how to read a rate, see the largest funds by AUM, check is an MMF safe, follow the full how to choose checklist, or start with the beginner’s guide.
Sources: Cytonn Weekly #22/2026 (https://www.cytonnreport.com/research/sub-saharan-africa-1), which republishes the Business Daily industry money market fund yield table. Figures are gross effective annual yields, point-in-time as of 5 June 2026, and move each week. This page is regenerated from that data.
Calculate your exact Freedom Date free → Open the MMF PRO Terminal