National Treasury Cabinet Secretary John Mbadi has described the newly enacted Sovereign Wealth Fund as a landmark initiative that will strengthen Kenya's long-term economic stability, safeguard national wealth and create prosperity for future generations. 
By Fredrick Kioko,
National Treasury Cabinet Secretary John Mbadi has described the newly enacted Sovereign Wealth Fund as a landmark initiative that will strengthen Kenya's long-term economic stability, safeguard national wealth and create prosperity for future generations.
Speaking after President William Ruto assented to the Sovereign Wealth Fund Bill, 2026, Mbadi said the legislation establishes a permanent framework for managing the country's strategic financial resources while enhancing fiscal discipline and promoting sustainable economic planning.
The Cabinet Secretary said the Fund is designed to ensure Kenya can better withstand economic shocks, finance transformative development projects and build long-term savings from the country's natural resources.
According to Mbadi, the Sovereign Wealth Fund will pursue three key objectives: cushioning the economy against fluctuations in resource revenues and other external shocks, financing strategic infrastructure investments that drive inclusive economic growth, and preserving wealth generated from Kenya's mineral and petroleum resources for future generations.
He noted that the legislation draws inspiration from some of the world's most successful sovereign wealth funds, including those in Norway, Singapore, Saudi Arabia, Botswana, Nigeria, Kuwait and Qatar, which have used similar models to strengthen economic resilience and secure national wealth.
Mbadi further emphasized that the Fund has been established under a strong governance and accountability framework to guarantee prudent management of public resources. Oversight will be provided by the National Treasury, Cabinet, Parliament, the Office of the Auditor-General, and the Controller of Budget, ensuring transparency and accountability in its operations.
He said the Fund represents a major milestone in Kenya's economic transformation agenda and will play a critical role in safeguarding the country's financial future while supporting sustainable development and shared prosperity for generations to come.
