As Covid-19 continues to sweep across the country, the question in the minds of many is how best to invest the little one has to make a living during this time.
In a time of a pandemic, such as this one, it is prudent to think as though it will never end as opposed to hoping that there will be a sunny day when this is all over.
In the last 43 days in Kenya, businesses such as bars, clubs, hotels, airlines (aviation), schools, and colleges have shut down. It is estimated that at least 8,000,000 people have lost their jobs with nothing to fall back to.
People will tell you to invest in an “online” business of selling goods and services because it is what is “thriving” but trust me, if you don’t have what it takes, you will be frustrated. Those buying online, are buying from outlets they trust and a new entrant will not just have it easy.
Have you heard about money market funds? Or rather, have you heard about Cytonn Money Market Fund? If you are thinking of your little money working for you as you sit at home, then this piece is about you. Forget the noise on social media.
Cytonn Money Market Fund, for the few months I have been there as an investor, is a low-risk fund that preserves your money while giving you an above-average return in terms of interest on a daily basis.
Think of a money market fund as a daily business (that kiosk or mama mboga) that one invests with “daily sales and counting of how much one has made at the end of the day.)
The truth is it is good to listen to others before investing but when it comes to money market funds, listen to those with the knowledge. I have come across people giving a lot of misleading information on investing in a money market fund. It is obvious that many people have little knowledge of how the venture works. To make good decisions, it is wise to talk to fund managers and get the real inside story.
With Cytonn Money Market Fund, the minimum investment is actually 1,000 shillings with frequent top-ups of 1,000 shillings or more. It is easy to invest and easy to withdraw your cash, by transferring it to M-Pesa anytime. (Call them or visit their website for any developments during this Covid-19).
To join the Cytonn Money Market Fund, there is no entry or exit fee. Your interest is earned and compounded on a daily basis basing on market rates. CMMF has actually remained above board with an interest of 11 percent. They say numbers don’t lie.
Now how do you invest? You don’t need to visit them. With the ongoing #Covid19, people are maintaining social distance and going cashless. This is the same with CMMF. Dial *809# and follow the prompts.
READ: Here Are Top 5 Money Market Funds For March 2020