Etica Money Market Fund Review 2025: A Comprehensive Analysis for Kenyan Investors
The Etica Money Market Fund (MMF) has established itself as a competitive player in Kenya’s investment landscape since its launch in February 2023. Managed by Etica Capital Limited, this fund offers Kenyan investors both KES and USD investment options with attractive returns and exceptional accessibility, requiring only KES 100 minimum investment.
Table of Contents
Is the Etica Money Market Fund Safe?
Yes, Etica Money Market Fund is safe and fully regulated. The fund operates under strict regulatory oversight that ensures investor protection and transparency.
Regulatory Framework
Etica Capital Limited holds CMA License Number 171 and is fully regulated by the Capital Markets Authority (CMA). The company was officially incorporated in July 2021 and received CMA consent for unit trust fund registration in November 2022. The fund is also supported by strong governance structures:
Investment Safety Features
The fund’s safety profile is reinforced by its conservative investment strategy. As of July 2025, the portfolio composition includes:
This diversified approach focuses on low-risk, short-term debt securities including treasury bills, commercial papers, and bank deposits, ensuring capital preservation while generating competitive returns.
Etica Money Market Fund Interest Rate Today
Current Performance (July 2025)
Etica Money Market Fund KES delivered 12.24% annual yield in July 2025, while the USD version achieved 6.04% annual yield. These rates represent the effective annual yield, net of the 2.0% management fee and before the 15% withholding tax.
Etica Money Market Fund interest rate chart
The fund’s performance has shown both strength and recent moderation reflecting broader market conditions:
Etica Money Market Fund (KES) Performance Since Launch – 2023 to July 2025
The performance trajectory demonstrates:
- 2023: 16.03% annual yield
- 2024: 16.30% annual yield (peak performance)
- 2025 YTD (through July): 12.24% annual yield
Competitive Positioning
According to July 2025 market rankings, Etica MMF ranked 4th among Kenyan money market funds with a net return of 9.86% (after 15% withholding tax). The fund consistently outperforms bank savings accounts and many competitors while maintaining excellent liquidity.
How Long Does It Take to Withdraw Funds from Etica?
Etica Money Market Fund offers exceptional withdrawal flexibility with multiple processing options designed for investor convenience.
Withdrawal Timeframes
- Up to KES 250,000: Instant processing (within seconds)
- Available 24/7 including nights, weekends, and holidays
- Above KES 250,000: Processed within 2 working days
- Standard processing: Within 2 working days
- No charges for bank transfers
- No minimum amount restrictions
- Processing time: Within 3 business days
- Lock-in period: 30 days (withdrawals not permitted before lock-in expires)
Withdrawal Process
The withdrawal process is streamlined through multiple channels:
- Etica Mobile App (iOS and Android)
- Web Portal at eticacap.com
- Customer service support via phone, email, or social media
Transaction Fees
- Bank transfers: Free of charge
- M-Pesa withdrawals: Minimal fees ranging from KES 4 to KES 30 depending on amount
- The exact fee is displayed before transaction confirmation
Is Etica Registered in Kenya?
Yes, Etica Capital Limited is properly registered and licensed in Kenya. The company holds comprehensive regulatory approvals:
- CMA License Number: 171
- Incorporation Date: July 2021
- Registration Box: P.O. Box 3245 Village Market, Nairobi
- Physical Office: Allamano Centre, Consolata Shrine, Westlands, Suite 4A & 4E
The fund appears on the official CMA list of licensed fund managers, confirming its legitimate status as a regulated investment vehicle in Kenya.
How Old is the Etica Money Market Fund?
Company and Fund Timeline
Etica Capital Limited was incorporated in July 2021, making the company approximately 4 years old. However, the actual fund launch occurred later:
- Company Incorporation: July 2021
- CMA Registration Consent: November 2022
- KES MMF Launch: February 27, 2023
- USD MMF Launch: February 2024
This makes the KES Money Market Fund approximately 2.5 years old as of August 2025, while the USD version is about 1.5 years old.
Fund Leadership and Vision
Founding Team
Etica Capital was co-founded by experienced financial professionals:
Maurice W. Oduor – Chief Executive Officer:
- Over 12 years of experience in investment management
- CFA Level 3, ICIFA, CISI qualified
- Previously served at Genghis Capital and Cytonn Investments
Jeremiah Chunge Munyasa – Chief Technology Officer & Co-Founder:
- Over 16 years in technology and financial services
- Former Head of Alternative Channels & Technology at Genghis Capital
- Champion of Kenya’s first cell phone-enabled money market fund
Technology-Driven Approach
Etica positions itself as a “wealth-tech company” focused on democratizing investments through technology. The company has developed:
- Custom cloud infrastructure for enhanced security and performance
- Mobile-first investment platform with iOS and Android apps
- 24/7 digital customer support across multiple channels
- Integration with M-Pesa for instant transactions
Investment Features and Accessibility
KES Money Market Fund
- Minimum Investment: KES 100
- No lock-in period
- Management Fee: 2.0% annually
- No initial fees
- Daily compounding
- Benchmark: 91-day T-Bill + 1.0%
USD Money Market Fund
- Minimum Investment: USD 100
- Minimum Top-up: USD 50
- Lock-in period: 30 days
- Management Fee: 2.0% annually
- Benchmark: Average 3-month USD deposit rate for tier 1 banks
Account Opening Options
Investors can open accounts through multiple channels:
- Etica Mobile App (recommended)
- Web portal registration
- Manual application forms
- Various payment methods including bank transfers, M-Pesa, and Equity Bank channels
Market Position and Performance Analysis
Competitive Advantages
Etica Money Market Fund distinguishes itself through:
- Extremely low minimum investment (KES 100 vs competitors’ KES 1,000+)
- Instant M-Pesa withdrawals up to KES 250,000
- Technology-driven platform with superior user experience
- Competitive yields consistently ranking in top 5 performers
- No initial fees unlike some competitors
Recent Performance Context
The decline in MMF yields during 2025 reflects broader economic factors affecting the entire industry:
- Falling Treasury Bill rates as CBK lowered benchmark interest rates
- Monetary policy easing to stimulate economic growth
- Reduced inflation and improved macroeconomic stability
Despite these headwinds, Etica has maintained its competitive position and continues delivering above-market returns to investors.
Conclusion and Investment Recommendation
Etica Money Market Fund represents an excellent choice for Kenyan investors seeking a combination of competitive returns, regulatory safety, and technological convenience. The fund’s 2.5-year track record demonstrates consistent performance and professional management, while its CMA regulation and strong governance structure ensure investor protection.
Key strengths include:
- Regulatory compliance with full CMA licensing and oversight
- Competitive performance ranking consistently among Kenya’s top MMFs
- Exceptional liquidity with instant M-Pesa withdrawals
- Low barrier to entry with only KES 100 minimum investment
- Technology-driven platform providing superior user experience
- Experienced management team with proven industry expertise
The fund is particularly suitable for:
- New investors seeking low-risk entry into capital markets
- Emergency fund building requiring high liquidity
- Short-term savings goals with flexible access needs
- Tech-savvy investors preferring digital-first investment platforms
With its strong regulatory foundation, competitive returns, and innovative technology platform, Etica Money Market Fund offers Kenyan investors a compelling option for capital preservation with growth potential in an increasingly digital investment landscape.
