The Nabo Africa Money Market Fund is currently the highest-paying money market fund in Kenya, and it has just become far easier to join. As of the latest data (June 2026), the Nabo Africa Money Market Fund led the entire market with a gross return of about 12.37%, or 10.51% net after tax, well ahead of the roughly 8.92% market average. After recently cutting its minimum from KSh 100,000 to just KSh 10,000, it is now open to ordinary savers, not only wealthy investors. This review covers what the Nabo Africa Money Market Fund pays, its fees, the risks, and how to invest.
Money market funds are the calm, dependable core of most Kenyan portfolios: your capital stays stable, you can withdraw within days, and you earn a steady return above inflation. The Nabo Africa Money Market Fund does all of that while sitting at the very top of the yield table, which is exactly why it is worth a close look right now.
Table of Contents
Key takeaways
- The Nabo Africa Money Market Fund led the market in June 2026 at about 12.37% gross (10.51% net), the highest of the roughly 28 funds tracked.
- It has been a consistent top performer through 2026, leading or near-leading every month, not a one-off spike.
- The minimum investment was recently slashed from KSh 100,000 to KSh 10,000, opening the fund to everyday savers.
- The annual management fee is 2.25%, higher than some rivals, with no initial or redemption fees.
- Returns are quoted net of the 15% withholding tax, your capital stays stable, and withdrawals take a few days.
Nabo Africa Money Market Fund returns
Yield is the headline, so let us be precise. The Nabo Africa Money Market Fund has been the standout performer of 2026, leading the market in April, holding second in May, and reclaiming the top spot in June.
| Period | Gross return | Net return |
|---|---|---|
| June 2026 | 12.37% | 10.51% |
| May 2026 | 11.34% | 9.64% |
| Market average (June 2026) | 8.92% | 7.58% |
The gap between the Nabo Africa Money Market Fund and the market average is more than three percentage points, which is unusually wide for this category. Over time that difference compounds into real money. Just remember that money market yields drift with interest rates, so the exact figure will move; what matters is that Nabo has consistently stayed at or near the top all year.
Fees, minimum investment and how it works
The big news is accessibility. The Nabo Africa Money Market Fund recently cut its minimum initial investment from KSh 100,000 down to KSh 10,000. That change matters, because it turns a fund that was effectively for wealthy investors into one an ordinary saver can use. It is run by Nabo Capital, a regulated asset manager and part of the Centum group, with a unit trust scheme licensed by the Capital Markets Authority.
On fees, the Nabo Africa Money Market Fund charges a 2.25% annual management fee. That is on the higher side for the category, and it is worth weighing against the yield, though the returns quoted are already net of it. There are no initial fees and no redemption fees, so you are not penalised for putting money in or taking it out. The returns are also net of the 15% withholding tax that applies to all money market fund interest in Kenya, so the figure you see is close to what you keep.
Worked example: what your money would earn
Numbers make it concrete. Say you invest KSh 200,000 in the Nabo Africa Money Market Fund and leave it for a year at the current 10.51% net rate.
- You would earn about KSh 21,020 in a year, growing your balance to roughly KSh 221,020.
- In a mid-table fund at the 7.58% net average, the same KSh 200,000 would earn about KSh 15,160.
- That is roughly KSh 5,860 more a year, for the same low risk, simply by choosing the market leader.
Because interest compounds, leaving it invested and topping up regularly grows the balance faster over time. If you want a slightly higher return and can accept a little more risk, compare the best fixed income funds. To see how Nabo stacks up against every rival, check our ranking of the best performing money market funds in Kenya.
The risks to keep in mind
Money market funds are low risk, but low risk is not no risk, and an honest review says so.
Returns follow interest rates. The Nabo Africa Money Market Fund yield moves with the market. As the Central Bank of Kenya holds rates steady, yields have plateaued, and a future rate cut would pull them lower.
The higher fee. At 2.25%, Nabo charges more than several rivals. Its strong gross returns have more than covered that so far, but the fee is a real drag to keep an eye on.
Credit and manager risk. A money market fund lends your money out, so the quality of what it holds matters. Nabo invests in Treasury bills, government and corporate bonds, and bank deposits, and is regulated, but no fund is entirely without risk.
Access timing. Withdrawals take a couple of working days, so a money market fund is for near-term and emergency cash, not money you need the same hour.
How to invest in the Nabo Africa Money Market Fund
The process is straightforward. You can start on the Nabo Capital website by choosing to invest and filling in your details, or by contacting the Nabo investment team to complete account opening. You will need the usual KYC documents: your ID, KRA PIN, and bank details. With the new KSh 10,000 minimum, you no longer need a large lump sum to begin.
Once you are in, a simple, powerful habit is to set up a regular monthly top-up and let the compounding work. For the full context on how these funds fit together, see our guide to the best money market funds in Kenya, our Cytonn Money Market Fund review, and our Etica Money Market Fund review, its closest rivals at the top.
Nabo Africa Money Market Fund vs a bank savings account
The most useful comparison for most people is not against other funds but against the bank savings account where their cash usually sits earning almost nothing. A typical savings account pays one or two percent a year, while the Nabo Africa Money Market Fund pays over ten percent net. On KSh 200,000, that is the difference between a couple of thousand shillings of interest a year and over twenty thousand, for money that is still safe and accessible within days.
The trade-off is small. A savings account gives you instant ATM access, whereas the fund takes a couple of days to pay out. So keep your day-to-day spending money in the bank, and move your emergency fund and savings into the Nabo Africa Money Market Fund, where they work far harder while staying safe.
Who the Nabo Africa Money Market Fund is for
With the minimum now at KSh 10,000, the Nabo Africa Money Market Fund suits almost any saver: a young professional building an emergency fund, a family parking cash for school fees, or a business earning on its float. Its market-leading yield and daily compounding reward exactly the kind of patient, regular saving that builds real wealth over time.
It is less suited to someone chasing equity-style growth, who would look at fixed income or special funds instead and accept more risk. But as the stable, high-yielding foundation of a portfolio, the Nabo Africa Money Market Fund is currently the one to beat. A sensible approach is to hold your safe money here and layer riskier growth funds on top only once that base is in place.
Frequently asked questions
What return does the Nabo Africa Money Market Fund pay?
As of June 2026, the Nabo Africa Money Market Fund paid about 12.37% gross, or 10.51% net after the 15% withholding tax, the highest rate in Kenya that month. Money market yields change with interest rates, so confirm the current rate on the fund fact sheet before investing.
What is the minimum investment?
The minimum was recently reduced from KSh 100,000 to just KSh 10,000, making the Nabo Africa Money Market Fund far more accessible to everyday savers than it used to be.
What are the fees?
The fund charges a 2.25% annual management fee, which is on the higher side for the category but already reflected in the net return you see. There are no initial or redemption fees.
Is the Nabo Africa Money Market Fund safe?
It is low risk. Your capital stays stable and you can withdraw within a few days. It invests in high-quality instruments like Treasury bills and bank deposits and is run by a regulated manager, though like any fund it is not guaranteed.
How do I withdraw my money?
You request a withdrawal through Nabo Capital, and the money is paid to your linked account, typically within two to four working days. There is no redemption fee.
Weighing more return against more risk? See our fixed income fund vs money market fund comparison.
Prefer a bigger brand over the top yield? Compare with our Sanlam Money Market Fund review.
Disclaimer: The content on Sarafu is for educational and informational purposes only. It does not constitute financial, investment, or professional advice. Returns mentioned are approximate and were sourced at the time of writing (June 2026 data), and they fluctuate constantly and can change daily. Past performance is not a promise of future results. All investments carry risk; the value of your investment can go down as well as up. Always do your own research, verify current figures on a live source such as the fund fact sheet or the latest market wrap-up, and consider consulting a licensed financial advisor before making any decision.
