President William Ruto has signed the Sovereign Wealth Fund Bill, 2026, into law in a ceremony held at State House, Nairobi, marking a major step in how Kenya will manage its public wealth for generations to come.
Speaking during the signing, the President heaped praise on National Treasury Cabinet Secretary John Mbadi, saying his leadership at the Treasury has been exceptional and unlike anything seen before.
In a light-hearted moment, Ruto told Mbadi that when he eventually writes his book, the Treasury CS will have plenty of space dedicated to the work they have done together.
The President also made it clear that he wasn't just praising Mbadi alone but also acknowledged the entire Treasury team and all the other players who have helped push the country's fiscal agenda forward.
Ruto did not stop there. He also took time to commend the Leader of the Majority and all Members of Parliament, especially those serving on the Finance Committee, for their hard work during the recent parliamentary debates on the Bill.
The President recalled that last Wednesday, while he was out of the country attending his daughter's graduation, MPs were burning the midnight oil in Parliament, with discussions going all the way to midnight.
He said he stayed in touch with officials throughout those deliberations and was impressed by the way Parliament came together in a bipartisan manner to find common ground. "Finally, Parliament came together in a very bipartisan way and said, we must move the country forward," Ruto said.
The Sovereign Wealth Fund Bill establishes a legal framework for creating and managing Kenya's first-ever fund dedicated to investing public wealth.
The fund will be divided into three main windows: a Stabilisation Fund to cushion the country during economic downturns, a Savings Fund to preserve wealth for future generations, and an Infrastructure and Development Fund to finance priority national projects.
Under the new law, 30 percent of Kenya's petroleum and mineral revenues will be set aside for future generations.
The law also provides for independent professional management, strong parliamentary oversight, transparent public reporting, and robust auditing to ensure every shilling is accounted for.
President Ruto noted that the government has completed the first comprehensive nationwide mineral survey in Kenya's history, confirming significant deposits of strategic and industrial minerals across the country.
He said these resources, if managed wisely, will accelerate industrialisation, create quality jobs, expand exports, and generate prosperity on a scale previous generations could only dream of.
The Sovereign Wealth Fund is expected to help Kenya save surplus public resources, finance strategic investments, and cushion the economy against future financial shocks.
It will operate alongside the National Infrastructure Fund as part of the government's broader economic reforms aimed at promoting inclusive growth, strengthening financial governance, and accelerating the country's long-term development agenda.
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