Treasury invites public participation on new Kenya Sovereign Wealth Fund Bill

In a statement, Treasury Cabinet Secretary John Mbadi says the bill aims to ensure openness and accountability in public financial matters and in compliance with article 201(a) and 232(1)(d) of the Constitution. 

Treasury says it is working with several stakeholders in finalizing the draft, which is expected to help the country save and invest the money earned from natural resources. 

The ministry has called on the National Government, the County Governments, Non-governmental organizations, Civil Societies, Professional bodies, private sector players, religious groups and other stakeholders to submit memoranda on the Bill no later than November 7, 2025.

In its draft, Treasury says the Sovereign Wealth Fund Bill will provide the national government with a buffer from fluctuations in resource revenues or extraordinary macro-economic shocks.

It is also aimed at providing finance for strategic infrastructure investment priorities to foster strong and inclusive growth and development. 

Another purpose of the fund is to build a savings base for future generations when minerals and petroleum resources are exhausted. 

Earlier this month, President William Ruto said the Sovereign Wealth Fund and an Infrastructure Fund will boost investment in key sectors while avoiding a new debt spiral that has strained public finances.