Mali Money Market Fund is a Closed Fund - What happened?

[@peterharun9214]

something i have been looking for

[@haggainandwa8917]

I do have an account with MALI and if you're an mpesa user it really makes it easy to transfer money across from mali to mpesa and vice versa

[@ivyoyori]

It's so much easier for Mpesa users. It's a game changer for sure

[@forcklift2030]

CMA just approved Ziidi Money Market Fund by Safaricom, who have partnered with SIB, ALA Capital and Sanlam. I'm guessing Mali will transition to this

[@ivyoyori]

Thanks for the update.
Probably that could have been the reason for the delay in opening the fund. Yeah, Mali could transition

[@DavidMusyokaMbetu]

How comes piloting stage can take 4 to 5 years?

[@ivyoyori]

The other reason is that they are waiting for the licensing approval. That has also delayed them from allowing more investors.

[@WilfredCheruiyot-i1b]

I deposited 100k I am daily I earn some good interest

[@ivyoyori]

That's awesome to know Wilfred. I wish I knew about Mali earlier when they were starting out.

[@WilfredCheruiyot-i1b]

@ivyoyori their interest rate varies daily,at first when they started out in 2021 it wos 10@ p.a and they pay interest per day but nowdays the interest ranges from 17% to 13.88% which is way high than most MMF