It seems the middle class is rushing to put their little savings in MMF. Saccos are proving to be tricky because of mismanagement and bank savings is not worth it.
Buying plots in far off places like Ukambani, Malindi, Nakuru, Laikipia, and Kajiado, for speculation, hoping the prices will shoot up is also not very promising nowadays.
So, with the MMF offering 13-17% interests, where to these investment companies and banks invest their clients money to ensure sustainable returns, now that the economy is not doing very well?
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Niliweka ABSA fixed account about two months ago wakanipea 12%. Why would anyone invest in MMF for the same yet fixed deposit atapata something close to that especially akiweka more than 1M?
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Juu MMF sio fixed. Siku tatu uko na pesa zako kikiumana. Fixed account kuko vipi? do you loose or forfeight any interest incase mid year kimekuramba?
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Yes
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Then you have your answer right there. In MMF you attract interest until the last day you call back your money
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t bills & fixed deposits
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Following closely, any relevant reading materials on MMF would be greatly appreciated.
I do mmf my small monies za kununua tuploti maguta , interest not bad though its shit bado
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This is a lie. Annualized yield ya 97.38%. Ama unasema watakupea 12% after 1 year? What is that product called juu nitaweka mbio sana.
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Hapa Sasa.
Ukipata infrastructure bond then you’re well sorted for 20 maybe 30 years, since it’s the only tax-free offer the govt will issue.
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12% p.a you dumbfuck. Not 12% per month or per 2 months. The money is still with ABSA.
Its not a product. Ni fixed account. Enda uwaambie unataka kuweka anything above 1 million for 1 year and negotiate. You might even get better. My bro got a better rate than me.
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Nowadays everyone is advocating for MMFs but I’m not boarding. Did you know that your principal is not guaranteed in an MMF? You put your money there hoping to earn interest but you may end up losing the principal itself.
Case in point: some years ago, a number of kenyan MMFs had invested in Nakumat’s corporate paper. Then Nakumat went under. What do you think happened to the investor’s funds? Zilienda tu hivo. Kwa news nikaona wakisema investors will have to take a “hair cut”
In fact one MMF collapsed completely due to hiyo story ya Nakumat. I think ilikuwa inaitwa Amana MMF.
Conclusion: think carefully
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Just buy treasury bills from GOK and the infrastructure bond - this is exactly what those MMFs do so why can’t you do it yourself? Mnakuanga wajinga sana!! It’s like those people who pay agencies 200k+ to apply for visas on their behalf when the information and requirements are readily available on the relevant country’s embassy website.
You guys are just too lazy to do any research, however simple.
Alafu pia Kenyans invest pesa kidogo sana. Ati 200k, 500k na ikienda sana 1M. Before saying you’ve invested wekelea 5M.
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uongo and you know it
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hata mimi nangoja sana asemeiyo product
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I trust my mattress and Equity. So far so good.
Hio MMF soon mtaanza kulia after mumepipinywa makei. In Kenya, normalize kupea kitu macho before you jump in.
Sisemi MMF ni mbaya, personally, I don’t understand it so I will sit this one out until further notice.
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And it is compounded Interest…
Safaricom is joining the party with their Ziidi MMF, licensed this week. I foresee them using their reach muscles to recruit more people.
We need a good financial adviser to tell us what is cooking.
If the money shifts from the bank accounts to the MMF vehicles, that apparently invest with CBK, will there be a banking crisis?
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What Exactly do you mean by this word.
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