Cytonn Money Market Fund paid the highest rate among Kenyan money market funds this week, at 11.11% a year (9.44% after tax). The average across 37 funds was 9.13%, unchanged from the previous report.
After the 15% withholding tax, the average fund returned 7.76%, which is 0.46 points above inflation of 7.30%. 13 funds rose, 16 fell and 8 stayed the same.
In money terms: KES 100,000 in the top fund would earn about KES 9,863 in a year after tax, compared with about KES 8,043 at the average rate.
Top 10 KES money market funds
| # | Fund | Rate | After tax | Change |
|---|---|---|---|---|
| 1 | Cytonn Money Market Fund ✅ | 11.11% | 9.44% | ● 0.00 |
| 2 | Faulu Money Market Fund ✅ | 10.97% | 9.32% | ▲ 0.22 |
| 3 | Old Mutual Money Market Fund ✅ | 10.92% | 9.28% | ▲ 0.64 |
| 4 | Lofty Corban Money Market Fund ✅ | 10.56% | 8.98% | ▼ 0.06 |
| 5 | Rejesha Money Market Fund ✅ | 10.46% | 8.89% | ▲ 0.03 |
| 6 | Orient Kasha Money Market Fund ✅ | 10.43% | 8.87% | ▼ 0.01 |
| 7 | Arvocap Money Market Fund ✅ | 10.42% | 8.86% | ▲ 0.23 |
| 8 | Globetec Money Market Fund ✅ | 10.41% | 8.85% | ● 0.00 |
| 9 | Nabo Africa Money Market Fund ✅ | 10.36% | 8.81% | ▼ 0.08 |
| 10 | Enwealth Money Market Fund ✅ | 10.28% | 8.74% | ▼ 0.34 |
✅ = on the Capital Markets Authority's list of approved funds. See all 37 funds.
Biggest moves this week
- Old Mutual Money Market Fund rose 0.64 points to 10.92%.
- Jubilee Money Market Fund fell 0.35 points to 10.19%.
- Enwealth Money Market Fund fell 0.34 points to 10.28%.
- GenAfrica Money Market Fund fell 0.30 points to 9.51%.
- Arvocap Money Market Fund rose 0.23 points to 10.42%.
USD money market funds
Etica USD Money Market Fund led the dollar funds at 6.33%. The average across 15 USD funds was 4.72%.
| # | Fund | Rate | After tax | Change |
|---|---|---|---|---|
| 1 | Etica USD Money Market Fund ✅ | 6.33% | 5.38% | ▼ 0.15 |
| 2 | Jubilee MMF USD ✅ | 5.57% | 4.73% | ▲ 0.27 |
| 3 | Cytonn Money Market Fund USD ✅ | 5.43% | 4.62% | ● 0.00 |
| 4 | Old Mutual Dollar Money Market Fund ✅ | 5.34% | 4.54% | ▲ 0.19 |
| 5 | SanlamAllianz Dollar Fund | 5.17% | 4.39% | ▲ 0.04 |
Fixed income funds
Zimele Fixed Income Fund paid the most among fixed income funds at 12.30%; the average was 10.47%. Fixed income funds can pay a little more than money market funds, but some take longer to withdraw from.
| # | Fund | Rate | After tax | Change |
|---|---|---|---|---|
| 1 | Zimele Fixed Income Fund ✅ | 12.30% | 10.46% | ▼ 0.12 |
| 2 | Etica Fixed Income Fund ✅ | 12.11% | 10.29% | ▼ 0.19 |
| 3 | ICEA Lion Fixed Income Fund ✅ | 11.47% | 9.75% | NEW |
| 4 | Madison Fixed Income Fund ✅ | 11.35% | 9.65% | ▼ 0.08 |
| 5 | Kuza Fixed Income Fund ✅ | 11.30% | 9.61% | ▼ 0.06 |
How they compare with T-bills
At the Central Bank auction of 5 November 2026, the 91-day Treasury bill paid 8.75% and the 364-day bill 9.03%, both before the same 15% tax. That compares with an average money market fund yield of 9.13%. T-bills lock your money in until they mature, while money market funds let you withdraw within days. See T-bill rates and calculator.
What this means for you
- Small weekly differences between funds rarely matter. Look at how steady a fund's rate is over several months, its fees and how fast you can withdraw.
- Compare after-tax returns with inflation (7.30%): that's how much your money is really growing.
- Thinking of moving? See what switching would earn you, or compare two funds side by side.
Frequently asked questions
Which money market fund has the highest rate this week?
Cytonn Money Market Fund, at 11.11% a year as of 6 November 2026 (9.44% after 15% tax). Rates change daily, so check the latest board before you invest.
What is the average money market fund rate in Kenya?
The average across the 37 KES money market funds on our list was 9.13% on 6 November 2026, or 7.76% after tax.
Are money market fund returns taxed in Kenya?
Yes. Interest earned in a money market fund is subject to 15% withholding tax, which the fund deducts before paying you. A 10% yield is therefore about 8.5% after tax.
How much does KES 100,000 earn in a money market fund?
At this week's top rate of 11.11%, KES 100,000 would earn about KES 9,863 in a year after tax, with interest added monthly. At the average rate of 9.13% it would earn about KES 8,043.
Rates are annual yields reported by fund managers for 6 November 2026. Past rates do not guarantee future returns. This is general information, not financial advice.