Kenyan wealth-tech startup, Ndovu, has officially launched its new Money Market Fund (MMF), called the Ndovu Fund, aimed at providing accessible and diverse investment options for everyone.
This launch is part of Ndovu’s mission to make wealth creation easier for all Kenyans.
The Ndovu Fund has received approval from the Capital Markets Authority (CMA) and allows investments starting from less than $4 (KES 500). The fund focuses on providing flexibility, stability, and low risk, all while offering competitive returns.
Interestingly, Ndovu lists ‘Kings of Blockchain’ as one of its investment funds which reportedly achieved an impressive return of over 98% in just 12 months as of December 2023.
The Ndovu Fund will invest in a mix of high-quality short-term securities, including Treasury Bills, Treasury Bonds, and top-rated commercial paper. This approach helps investors earn good yields while keeping their money liquid.
During the launch event, Radhika Bhachu, CEO and Co-founder of Ndovu Wealth Limited, shared her vision:
“We are fostering a culture of saving and investing in Kenya. With this fund, we’re empowering Kenyans to take control of their financial future by providing a platform to start investing, diversify their portfolios, and reach their long-term goals—all while earning competitive returns.
As we make investment opportunities more accessible, our goal is to help Kenyans grow their wealth, both locally and globally, in a safe and straightforward way.”
Ndovu joins a market of over 50 approved investment schemes in Kenya with over 224 funds as of June 2024. MMF is the most popular class of collective investments in Kenya, accounting for 67.4% of assets under management in H1 2024 totalling to $1.3 billion.
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