Islamic Investing in Kakamega, Kakamega

A CMA-regulated special fund from wealth-tech manager Etica Capital that targets regular income from Shariah-compliant opportunities, benchmarked against the average rate of Shariah-compliant 3-month deposits plus 2% p.a. Fully digital onboarding in about 3 minutes via iOS/Android apps or web, M-PESA deposits (paybill 4096483) and instant M-PESA withdrawals up to KES 250,000 daily. Minimum investment and top-up of KES 100 with no lock-in period; the products page printed an effective annual profit of 11.64% (7-day: 11.79%) at crawl on 2026-08-06 (eticacap.com).

The dollar class of Etica's Shariah income fund: minimum USD 100 (top-up USD 50), a 30-day initial lock-in, 2.0% p.a. management fee and a benchmark of average Shariah-compliant 3-month USD deposit rates plus 2% p.a. Kenyans can fund it from KES via M-PESA paybill 247247 or bank transfer with same-day conversion, and diaspora investors can remit via Wise, LemFi, WorldRemit and similar services. The site's rate ticker printed inconsistent USD profit figures at crawl (5.06% in one section, 2.73% in another), so treat the current rate as app-verified only (eticacap.com, crawled 2026-08-06).

The Shariah-compliant sibling of Safaricom's Ziidi money market fund: a standalone collective investment scheme registered by GulfCap Investment Bank with CMA approval granted 20 February 2025, offered to M-PESA customers entirely through the M-PESA app and *334# USSD. Targeted at registered M-PESA customers 'who either profess the Islamic faith or prefer to invest in Shariah-compliant financial products' per the CMA approval. Opt-in requires being 18+ with an active M-PESA account for at least 3 months; units are created digitally, priced daily, and redeemed back to the M-PESA wallet (cma.or.ke approval notice 20 Feb 2025 and Safaricom Ziidi Shari'ah terms and conditions, accessed 2026-08-06).

A growth-oriented Shariah special fund from CMA- and RBA-licensed Kuza Asset Management, investing in halal businesses and securities across local and offshore equities, IPOs, REITs and sukuk. Inception September 2023; minimum KES 100,000 with KES 50,000 top-ups, 2.0% annual management fee, 6-month lock-in, benchmarked against an absolute 12.0% p.a. Published profit rate was 8.79% as of 30 September 2025, with AUM of just KES 2.46 million at the same date, trustee Co-operative Bank and custodian KCB (kuzaasset.com/products/shariah-momentum and kuza.africa product pages, accessed 2026-08-06).

A Shariah-compliant global portfolio inside Ndovu, the CMA-licensed robo-advisory platform operated by Ndovu Wealth Limited (licensed as Fund Manager and Investment Adviser). The Halaal Fund is one of Ndovu's curated global ETF baskets and is built around the Wahed FTSE USA Shariah ETF, giving Kenyan retail investors screened US equity exposure that excludes alcohol, gambling and interest-based finance. Investing starts from KES 5,000 through the Ndovu app or web, funded by M-PESA or bank transfer (ndovu.co, accessed 2026-08-06).

Kenya's largest Shariah-compliant fund: a CMA-regulated multi-asset special fund from SIB Najah, the Islamic investment banking division of Standard Investment Bank, investing in screened Shariah-compliant instruments across local and global markets. KES and USD classes, each with a 6-month lock-in. Per the CMA's Q1 2026 CIS report the KES fund held about KES 3.0 billion and the USD fund about KES 527.9 million equivalent, making it by far the biggest Shariah special fund in the country. Fund profile: 0% initial fee, 0% redemption fee, 5% p.a. financial services charge prorated daily, performance fee of 10% above a 25% hurdle (KES) and 15% above a 15% hurdle (USD), custodian I&M Bank, withdrawals in 2 to 3 working days (sib.co.ke/najah and SIB Najah Q3 2025 introduction deck, accessed 2026-08-06).