Ruto backs infrastructure, sovereign wealth funds to secure economy
NAIROBI, Kenya, Oct 5 - President William Ruto has announced plans to establish two new funds, an Infrastructure Fund and a Sovereign Wealth Fund, to Kenya breaking news | Kenya news today |..
✨ Key Highlights
President William Ruto announced plans to establish two new funds: an Infrastructure Fund and a Sovereign Wealth Fund, aimed at securing Kenya's long-term economic stability and promoting prudent investment of public resources.
- The announcement took place in Vihiga County on Sunday, October 5th, reflecting Ruto's administration's commitment to safeguarding the country’s economic future.
- The Sovereign Wealth Fund Bill of 2019, which sought to manage surplus revenues and create a buffer against economic downturns, is expected to be reintroduced.
- The proposed funds coincide with an International Monetary Fund (IMF) mission in Nairobi to discuss a new financial support programme following Kenya’s request for renewed IMF engagement.
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Kenyan Government Announces Housing Program, Digital Recruitment, and Economic Funds - October 2025
President William Ruto announced plans to establish an Infrastructure Fund and a Sovereign Wealth Fund to secure Kenya's long-term economic stability and promote prudent investment of public resources. In a separate initiative, the government's Affordable Housing Programme will provide 580 new housing units to Gichugu Technical and Vocational College (TVC) in Kirinyaga County, addressing student accommodation challenges. Additionally, a new digitized recruitment system implemented under President Ruto's administration has enabled a qualified teacher, Steven Nzomo, to secure a job with the Teachers Service Commission (TSC) after a nine-year wait. Nzomo had been qualified since 2013 and benefited from the new system.
