Close

StanChart Launches Money Market Fund- SC Shilingi Funds

The Standard Chartered Bank, in collaboration with Sanlam Investments East Africa, and Mangosteen BCC Pte Ltd, has launched the SC Shilingi fund, a low-ticket money markets fund which it will be proposition for its clientele.

(From Left) Edith Chumba - Head of Corporate and Institutional Banking SCB, Kagwe Mungai - Brand Ambassador, SC Shilingi Funds and Mark Mulatya - Chief Operating Officer at Sanlam Investments East Africa Limited pose for a photo during the launch of the SC Shilingi Funds at Standard Chartered Bank Offices.

Standard Chartered Bank Kenya has partnered with Sanlam Investments East Africa Ltd and Mangosteen BCC Pte Ltd to unveil SC Shilingi funds, a low-ticket money markets fund proposition for Kenyans.

SC Shilingi Funds is a local unit trust offering where the Bank partners with local fund manager(s) and provide their fund(s) to Standard Chartered clients.

“With as little as KShs 1000, Kenyans can now start building an investment portfolio or saving towards needs like housing, education, healthcare or for leisure and travel. This product can also act as an emergency fund with the ability to withdraw funds easily,” Edith Chumba, Head Consumer, Private and Business Banking at Standard Chartered said during the launch Tuesday.

Sanlam Investments East Africa Ltd will distribute the Sanlam Money Market fund. 

All investment products are thus distributed by Standard Chartered Investment Services Ltd, a wholly-owned subsidiary of the Bank that is licensed by the Capital Markets Authority as a Fund Manager.

How to Start Invest using SC Shilingi Funds

  1. Download the SC Mobile Kenya app on Google play store or Apple Store
  2. Open a bank account with Standard Chartered by selecting open a banking account. Follow the steps. (If you are already banking with Standard Chartered Bank, follow from the next step)
  3. Log in to the SC Mobile Kenya app
  4. Click on the Investments tab and choose SC Shilingi Funds.
  5. Follow the prompts and steps to start investing

What makes it simple?

  • With as low as 1000 Kenyan Shillings, customers will have access to an investment solution.
  • The product is 100% digital and available 24/7 on SC Mobile app
  • Very flexible – you can invest one-time anytime, weekly and/or monthly
  • Very attractive daily interest and compounding monthly
  • Very liquid – customers have unlimited free withdrawals at anytime

Commenting on the product, Ned Phillips, Co-Founder and CEO of Bambu said: “We’ve always believed that investing is about accessibility. And we are confident that the SC Shilingi Funds is the perfect way for people to start investing.”

“As a technology partner working alongside Standard Chartered, we really focused on making a simple and seamless extension of their platform for their banking clients – enabling access for every customer to start and maintain investing habits via regular savings plans.”


 We are on Telegram. Click here to join our channel and stay updated with the latest East African business news and updates.

Multimedia platform providing analysis of business & financial news in East Africa.

One Comment
scroll to top