Average Net Returns for Top MMFs From January to June 2025 [LIST]

In the first half of 2025, only four Money Market Funds offered a net interest above 10%. Gulfcap Money Market Fund had the highest returns for investors, having registered an average net return of 10.97%.

Cytonn Money Market Fund had an average net interest rate of 10.69%, while Lofty-Corban Money Market Fund had a net interest rate of 10.19%.

Kuza Money Market Fund was the 4th MMF to have a net return above 10% for the first half of the year at 10.06%.

Conversely, some funds also offered net returns below 5% and they included the Equity Money Market Fund at 3.59%

Here are the MMFs and their net returns for the First Half of 2025

1. Gulfcap Money Market Fund - 10.97%
2. Cytonn Money Market Fund - 10.69%
3. Lofty-Corban Money Market - 10.19%
4. Kuza Money Market Fund - 10.06%
5. Etica Money Market Fund - 9.86%
6. Nabo Africa Money Market Fund  - 9.55%
7. GenAfrica Money Market Fund - 9.41%
8. Arvocap Money Market Fund  - 9:10%
9. Orient Kasha Money Market Fund  - 9.06%
10. Old Mutual Money Market Fund - 8.97%
11. Jubilee Money Market Fund - 8.97%
12. Britam Money Market Fund - 8.94%
13. Madison Money Market Fund - 8.91%
14. Enwealth Money Market Fund - 8.78%
15. Faulu Money Market Fund - 8.46%
16. Apollo Money Market Fund - 8.41%
17. Sanlam Money Market Fund - 8.30%
18. Dry Associates Money Market Fund - 8.21%
19. KCB Money Market Fund - 8.07%
20. Genghis Money Market Fund - 7.74%
21. ICEA Lion Money Market Fund - 7.62%
22. Co-op Money Market Fund  - 7.57%
23. CIC Money Market Fund - 7.38%
24. Absa Shilling Fund MMF - 7.29%
25. Mayfair Money Market Fund - 6.96%
26. African Alliance Kenya Money Market Fund - 6.56%
27. Equity Money Market Fund -3.59%

Below are the new interest rates for dollar MMFs from January to July 2025

1. Etica MMF USD - 4.99%
2. Nabo Africa Money Market Fund USD -4.60%
3. Kuza Money Market Fund USD - 4.55%
4. Old Mutual Money Market Fund USD - 4.52%
5. Sanlam Money Market Fund USD - 4.51%
6. Jubilee MMF USD - 4.49%
7. Lofty-Corban Money Market Fund USD - 4.47%
8. Dry Associates Money Market Fund USD - 4.42%
9. KCB Money Market Fund USD - 4.28%
10. CIC Money Market Fund USD - 3.82%
11. Absa Dollar Fund MMF - 3.54%

Review of MMFs in the First Half of 2025

In the first half of 2025, MMF returns have continued to decline, even though some are still offering net returns of above 10%. The decline has mostly been attributed to a shift in government policies.

Treasury Cabinet Secretary John Mbadi noted that the government was keen on lowering the interest rates for Treasury Bills, which are one of the investment ventures for MMFs.

According to Mbadi, high interest rates on the T-Bill have put pressure on the country's debt obligations.

“Interest rates have been going down, especially the rate at which the government borrows (T-Bills). When I came into office, the rate was 15 per cent. Right now, it is going below 9%, going to 8% for 91-day T-Bills,” the CS explained.

“So, money market (funds) is not as lucrative as it used to be. I know some of you who have been into MMFs are wondering what the government is going to do. It is better for the economy as a whole, but it may not be good for an individual investor."

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