Ownership fights over a Safaricom-backed unit trust dubbed Mali has forced the telco to form a rival fund, dropping Genghis Capital and embracing new partners.
The Capital Markets Authority (CMA) on Wednesday revealed it had approved a new unit trust called Ziidi Money Market Fund, which is a partnership between Safaricom and three fund managers-- Standard Investment Bank (SIB), ALA Capital Limited and Sanlam Investments East Africa Limited.
