Omollo hails Sovereign Wealth Fund as Kenya's future-proof investment
Kenya's Internal Security PS Raymond Omollo has praised the new Sovereign Wealth Fund Act as a vital tool for managing natural resource revenues. The law aims to ensure transparency and preserve wealth for future generations while encouraging private investment.
Why it matters
This legislation represents a significant shift in how Kenya manages its extractive sector and long-term economic planning.
Principal Secretary for Internal Security and National Administration Raymond Omollo during a worship service at the Seventh-day Adventist Church in Mutumbu, Siaya County/COURTESY
Internal Security Principal Secretary Raymond Omollo has hailed the newly enacted Sovereign Wealth Fund Act as a landmark law that will safeguard Kenya's natural resource wealth for future generations.
Omollo said President William Ruto's assent to the law marks a major milestone in safeguarding revenues generated from the country's natural resources.
Speaking during a Women Empowerment Forum in Gem, Siaya County, the PS said the legislation establishes a legal framework for managing proceeds from natural resources in a transparent and accountable manner while preserving part of the wealth for future generations.
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