Kenya signs Sovereign Wealth Fund bill into law

Kenyan President William Ruto has signed the Sovereign Wealth Fund Bill 2026 into law, aiming to strengthen fiscal management, safeguard national wealth and support long-term economic growth.

The law sets aside 30% of Kenya’s petroleum and mineral revenues for future generations. It also establishes a framework for saving surplus public resources, financing strategic investments, and cushioning the economy against financial shocks.

The fund will become fully operational once it reaches KSh 200 billion (over $1.5 billion) and a board is appointed. The law introduces strict transparency measures, including regular public reporting, audits by the Auditor-General, and penalties for misuse of funds.

Speaking at the signing ceremony in Nairobi, Ruto said the government has completed the first comprehensive nationwide mineral survey in the country’s history, confirming significant deposits of strategic and industrial minerals across the country.

“These resources will accelerate industrialisation, create quality jobs, expand exports, strengthen our external position, and generate prosperity on a scale previous generations could scarcely have imagined. But only when managed wisely,” Ruto said.

The Stabilisation Fund will build a financial buffer against extraordinary shocks, ensuring that global economic crises do not escalate into national crises. The Sovereign Wealth Fund will invest surplus revenues from natural resources and other public assets, ensuring benefits are shared by current and future generations.

SOURCE: MRA