Safaricom PLC has officially launched Ziidi Trader, a new M-PESA feature that allows Kenyans to buy and sell shares listed on the Nairobi Securities Exchange (NSE) directly from their mobile phones, marking a major shift in how retail investors access capital markets.
The platform was unveiled at the NSE, with President William Ruto presiding over the launch, underscoring the government’s backing of broader retail participation in Kenya’s capital markets.
Extending M-PESA Into Wealth Creation
Speaking at the launch, Safaricom Chief Financial Officer Dilip Pal described Ziidi Trader as a natural evolution of M-PESA’s 18-year journey from a simple money transfer service into a comprehensive digital financial ecosystem.
“Today marks an important milestone in Safaricom’s journey to deepen inclusion, expand opportunity, and strengthen the financial well-being of every Kenyan,” Pal said. “With Ziidi Trader now live on the M-PESA platform, we are extending M-PESA beyond payments and short-term transactions into long-term wealth creation through securities trading on the NSE.”
Pal noted that Safaricom has invested heavily in transforming M-PESA into a cloud-native, AI-enabled platform designed for scale, resilience, and security. According to him, the upgraded infrastructure enhances fraud detection, improves reliability, and enables the secure rollout of innovative services such as Ziidi Trader.
Safaricom’s long-term ambition, he added, is to build Africa’s leading purpose-driven digital financial ecosystem that seamlessly integrates payments, savings, credit, investments, government services, developers, and partners under one trusted platform.
How Ziidi Trader Works
At launch, Kestrel Capital has been appointed as the sole broker to process trades executed through Ziidi Trader. The structure departs from the traditional Central Depository and Settlement (CDS) account onboarding model, which typically requires investors to open individual CDS accounts through brokerage firms.
Instead, M-PESA handles customer onboarding using its existing Know Your Customer (KYC) credentials. Investors authorize transactions using their M-PESA PIN, and trades are processed through a single omnibus CDS account held by Kestrel on behalf of users.
The model mirrors the digitisation approach used to expand access to government bonds via mobile platforms. With over 35 million M-PESA users compared to just over one million CDS accounts, the frictionless onboarding process is expected to significantly widen the retail investor base.
Daily transaction limits are aligned with M-PESA’s existing cap of KSh500,000, providing guardrails while enabling meaningful participation.
Democratizing Capital Markets
President William Ruto hailed the launch as a transformative step for Kenya’s financial sector.
“We commend the capital markets and Safaricom for making it possible for Kenyans to buy shares from the comfort of their homes and phones, expanding access for millions of citizens,” the President said.
He described the innovation as a move toward democratizing public assets and revolutionizing ownership by enabling ordinary Kenyans to participate confidently in wealth creation through capital markets.
The President also reiterated the government’s commitment to strengthening capital markets as a central pillar in mobilizing capital for the country’s KSh5 trillion national transformation plan. Funds mobilized through instruments such as the National Infrastructure Fund and the Sovereign Wealth Fund are expected to crowd in private investment, finance national priorities, and safeguard inter-generational equity.
Market Structure and Competition Questions
While the platform promises to unlock mass retail participation, its design also raises market structure and competition considerations.
By routing initial order flow through a single broker, the model temporarily sidelines some of the country’s largest brokerage houses until additional brokers are onboarded, a timeline that remains unclear. Industry observers note that this concentration of early trade activity could shift commission dynamics and alter traditional broker-client relationships.
The omnibus account structure also places heightened importance on governance, including trade allocation, transparency, disclosure standards, investor protection, and the tracking of beneficial ownership and shareholder rights within a pooled account framework.
A Bet on Mobile-First Equities
The broader bet is that seamless, mobile-first access can unlock a new wave of first-time equity investors, particularly after two years of strong market performance that did not significantly expand the overall investor base.
For Safaricom and the NSE, Ziidi Trader represents a strategic attempt to convert mobile money users into active capital market participants at scale. For brokerage firms, the key question will be how and when the platform opens to multiple intermediaries, and whether mobile-first equities become a collaborative distribution channel or a structural shift in control.
As Kenya continues to digitize its financial infrastructure, the launch of Ziidi Trader signals a new phase in the convergence of telecommunications, fintech, and capital markets, with the smartphone positioned as the gateway to ownership and long-term wealth creation
