Historical Money Market Fund Yields in Kenya (2022 to 2026)
Important
Executive Summary:
- This page tracks the Kenyan money market fund industry table across 159 weekly snapshots, from 9 September 2022 to 5 June 2026.
- Over that window the industry average has climbed to about 15.64% around July 2024, then eased back to roughly 9.11% by June 2026 (a low of 8.97%, a high of 15.64% around July 2024).
- Cytonn has topped the table most often (81 of 159 weeks). The biggest funds rarely lead on yield, but they move less and hold their place.
Most Kenyan money market fund coverage shows you a single number: today’s rate. That hides the more useful story, which is the direction of travel. Rates move with the Central Bank rate and market conditions, so a fund that looks great this week may simply be having a good week. This page tracks the published industry table over time so you can read the trend. To compare the current week instead, see the best MMF rates right now.
How the industry average has moved
Each row is the last published weekly snapshot of that month: the average effective annual yield across all listed funds, and the fund that led the table.
| Month | Industry Average (%) | Top Fund That Month |
|---|---|---|
| September 2022 | 9.29 | Cytonn (10.60%) |
| October 2022 | 9.14 | Cytonn (10.70%) |
| November 2022 | 9.09 | GenCap Hela Imara (10.80%) |
| December 2022 | 9.38 | Cytonn (10.90%) |
| January 2023 | 9.32 | Cytonn (10.80%) |
| February 2023 | 9.49 | Cytonn (10.70%) |
| March 2023 | 9.70 | Cytonn (11.10%) |
| April 2023 | 9.69 | Cytonn (11.00%) |
| May 2023 | 10.04 | Etica (11.60%) |
| June 2023 | 10.33 | Etica (12.00%) |
| July 2023 | 10.86 | Etica (12.50%) |
| August 2023 | 11.30 | GenAfrica (13.00%) |
| September 2023 | 12.19 | GenAfrica (14.20%) |
| October 2023 | 12.61 | GenAfrica (14.90%) |
| November 2023 | 12.94 | Cytonn (15.60%) |
| December 2023 | 13.58 | Etica (16.50%) |
| January 2024 | 13.78 | Etica (17.30%) |
| February 2024 | 14.29 | Etica (17.50%) |
| March 2024 | 14.85 | Etica (18.10%) |
| April 2024 | 15.15 | Lofty-Corban (18.30%) |
| May 2024 | 15.26 | Lofty-Corban (18.30%) |
| June 2024 | 15.24 | Etica (18.30%) |
| July 2024 | 15.64 | Etica (18.40%) |
| August 2024 | 15.63 | Cytonn (18.30%) |
| September 2024 | 15.33 | Cytonn (18.20%) |
| October 2024 | 15.12 | Cytonn (18.10%) |
| November 2024 | 14.72 | Cytonn (18.00%) |
| December 2024 | 13.84 | Cytonn (16.80%) |
| January 2025 | 12.86 | Cytonn (16.50%) |
| February 2025 | 12.59 | Gulfcap (16.30%) |
| March 2025 | 11.85 | Gulfcap (16.30%) |
| April 2025 | 11.29 | Gulfcap (13.90%) |
| May 2025 | 10.92 | Gulfcap (13.90%) |
| June 2025 | 10.60 | Cytonn (13.50%) |
| July 2025 | 10.21 | Cytonn (13.30%) |
| August 2025 | 10.16 | Cytonn (13.20%) |
| September 2025 | 9.91 | Ndovu (13.10%) |
| October 2025 | 9.72 | Cytonn (12.60%) |
| November 2025 | 9.44 | Cytonn (12.30%) |
| December 2025 | 9.30 | Cytonn (12.00%) |
| January 2026 | 9.22 | Arvocap (11.90%) |
| February 2026 | 9.13 | Gulfcap (12.50%) |
| March 2026 | 9.08 | Nabo Africa (12.20%) |
| April 2026 | 9.15 | Cytonn (12.00%) |
| May 2026 | 9.13 | Cytonn (12.10%) |
| June 2026 | 9.11 | Nabo Africa (12.80%) |
The useful signal here is the cycle, not a single week: across the full window the industry average has climbed to about 15.64% around July 2024, then eased back to roughly 9.11% by June 2026. Whether the whole market is paying more or less than it was matters more for your planning than any one fund’s weekly wobble.
Which funds have led the table
Over 159 weeks, the funds that held the number-one spot most often:
| Fund | Weeks at No. 1 |
|---|---|
| Cytonn | 81 |
| Etica | 25 |
| Gulfcap | 11 |
| GenAfrica | 10 |
| Lofty-Corban | 9 |
A fund that leads week after week is worth a look, but remember the headline is gross and before the 15% withholding tax, and the top of the table is often a smaller or newer fund competing hard on rate. Read how to read a rate and pair the yield with the fund’s size and licence.
The biggest movers
Funds whose yield changed most across the window. Rising is not automatically good (it can mean a fund is chasing inflows), and falling is not automatically bad, but the moves show you where the action has been.
Risen the most:
| Fund | From | To | Change |
|---|---|---|---|
| Nabo Africa | 9.50% | 12.80% | +3.30 pts |
| British-American | 7.60% | 9.50% | +1.90 pts |
| Orient Kasha | 8.60% | 10.20% | +1.60 pts |
Fallen the most:
| Fund | From | To | Change |
|---|---|---|---|
| AA Kenya | 8.40% | 6.00% | -2.40 pts |
| Co-op | 9.20% | 7.90% | -1.30 pts |
| ICEA Lion | 8.80% | 7.60% | -1.20 pts |
The big trusted funds over time
The largest, most established funds (the ones most Kenyans use for an emergency fund) tend to move less than the chasers at the top. Here is how the household names have shifted across the window.
| Fund | Earliest | Latest | Change |
|---|---|---|---|
| Sanlam | 9.60% | 9.10% | -0.50 pts |
| CIC | 9.00% | 8.40% | -0.60 pts |
| Old Mutual | 9.30% | 10.10% | +0.80 pts |
| Nabo Africa | 9.50% | 12.80% | +3.30 pts |
| Cytonn | 10.60% | 12.00% | +1.40 pts |
The Sanlam fund moved from 9.60% to 9.10% over the period and currently sits around rank 17. It rarely tops the weekly table, but it has stayed steady and remains the market leader by size and trust. That steadiness, plus a free planning terminal, is why the Sanlam Money Market Fund is a sensible default for money you cannot afford to lose access to. See the largest funds by AUM for the size picture.
Frequently Asked Questions
Have money market fund rates in Kenya gone up or down? Across the 159 weeks tracked here (9 September 2022 to 5 June 2026), the industry average has climbed to about 15.64% around July 2024, then eased back to roughly 9.11% by June 2026 (a low of 8.97%, a high of 15.64%). Rates move with the Central Bank Rate and market conditions, so the trend matters more than any single week.
Which money market fund has been the best over time? Cytonn has led the weekly table most often in this window (81 of 159 weeks). But the highest weekly yield is gross and before tax, and the leader is often a smaller fund. For money you may need quickly, weigh consistency, size and the CMA licence alongside the headline.
Why do MMF yields change every week? Money market funds hold short-term instruments (Treasury bills, fixed deposits, near-cash). As the Central Bank Rate and market rates move, the funds’ yields follow. That is why a weekly snapshot is a point in time, not a promise.
Where does this historical data come from? From the weekly industry table that the financial press publishes (republished via Cytonn), captured each week into a local archive and summarised here. Figures are gross effective annual yields.
Keep reading: see the best MMF rates this week, learn how to read a rate, check the largest funds by AUM, or start with the beginner’s guide.
Sources: the weekly Kenyan money market fund industry table (Business Daily, republished by Cytonn), captured weekly into a local archive of 159 snapshots from 9 September 2022 to 5 June 2026. Figures are gross effective annual yields and move every week.
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