Stanbic Bank Kenya has launched a shilling and dollar denominated money market funds that will see investors earn up to 15.12 per cent per annum.
The returns are likely to be double what is offered on fixed savings, considering that banks are paying an average of 7.5 per cent and even slightly higher what the government pays on bonds and Treasury Bills.
The funds currently provide investors with an annualized yield of 15.12% for the Money Market Fund (KES) and 5.56 per cent for the Fixed Income Fund (USD).
“Our Asset Management unit is strategically positioned to deliver investment solutions that drive growth for both retail and institutional investors,” said Joshua Oigara, Stanbic Kenya CEO.
