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, APA can report on Wednesday.
The bill is set to help the country save surplus public resources, finance strategic investments and cushion the economy against future financial shocks.
The new law also establishes a framework that reserves 30 percent of Kenya’s petroleum and mineral revenues for future generations.
It is expected to improve the country’s financial resilience while promoting prudent management of public resources.
Speaking during the signing ceremony in Nairobi, the Kenyan capital, Ruto noted that the government has completed the first comprehensive nationwide mineral survey in the country’s history, whose findings confirm the presence of significant deposits of strategic and industrial minerals across the country.
“These resources will accelerate industrialization, 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,” he said.
Ruto noted that through the Stabilization Fund, Kenya will build a financial buffer against extraordinary shocks, ensuring that global economic storms do not escalate into national crises.
The Sovereign Wealth Fund will serve as a vehicle for investing surplus revenues generated from natural resources and other public assets, ensuring that the benefits are shared by both current and future generations.
It also seeks to reduce the country’s vulnerability to economic uncertainties by providing a financial buffer during periods of economic instability.
MG/as/APA