Thread by @moneyacademyKE

How to invest in USD MMF

A step-by-step guide with screenshots.

A USD MMF is a gets money from many investors and the funds are invested in short-term dollar yielding opportunities.

As with all MMFs the point is that they are easy two withdraw and you can get your money in under 48 hours.

While a KES MMF invests in KES denominated underlying assets such as Kenyan T-Bills , the USD MMF invests in USD denominated assets like USD Bank Deposits, Short dated Eurobond opportunities etc

A USD MMF basically protects you from the Kenyan shilling weakening against the dollar.

For instance, last year KES depreciated by 27% to the dollar.

The Kuza USD MMF averaged a return of 6% in USD.

When you translate this to KES, this is a (27+6) = 33% return in KES.

Step 1: To start investing in USD MMFs

Download the app (available on Google Play Store and Apple Store)

or visit Kuza.Africa
client.kuza.africa

—Once downloaded the app.

—Open the app and tap the "Register" button.

—Enter your name, phone number, and email address in the designated fields.

Click the "Continue" button to proceed.

After clicking the Continue button, an OTP will be sent to your registered phone number

You will be required to set your password, re-enter it, then click on "continue"

"After that, you will be required to enter your bio data details, including:

—Salutation
—Middle name
—Date of birth
—Gender
—Nationality
—Town of residence
—Physical address

Then, click "Continue

Then, please attach your identification documents:

—ID Number
—ID Card: Upload scans of the front and back of your ID card
—KRA PIN
—KRA PIN Certificate: Upload a scan of your KRA PIN certificate.

Once finished, click the
"Continue" button

You will also be required to add your bank details:

—Account Name
—Account Number
—Bank Name: Select your bank from the provided list.
—Bank Branch
—Proof of Bank Account: Upload a scanned copy of one of the following documents i.e
Front page of your ATM card

Once you have completed all fields and uploads, click the "Continue" button.

Next, you will choose the area where you want to invest your funds. Select the "Kuza Money Market Fund (USD)" option

Remember, the minimum investment amount is USD100.

Once you've selected your investment option
please tick the box to agree to the terms and conditions. Then, click the "Continue" button to proceed

To complete your investment, you will be required to transfer the required amount as specified in the provided details.

Then click on "Finish button"

Your investment is now complete. You can track your expected yields in your account

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