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Originally published by Kenyanstop
April 23, 2026
2h ago
Treasury Watchdog Sounds Warning Over Ruto’s Ksh5 Trillion Sovereign Wealth Fund Plan
President William Ruto seeks to revolutionize how the country raises funds for important projects; however, the these measure face sharp criticisms over the critical gaps that they have...
✨ Key Highlights
The Controller of Budget, Dr Margaret Nyakango, has issued a strong warning that the proposed Sovereign Wealth Fund (SWF) Bill, 2026, could allow significant revenues to bypass the Consolidated Fund, potentially violating the Constitution.
- The Bill could permit billions in mineral and petroleum revenues to flow outside the Consolidated Fund, undermining constitutional financial oversight.
- Key concerns involve the Bill's silence on the SWF's relationship with the Consolidated Fund and the Controller of Budget's authorization powers.
- The Controller of Budget recommends that all withdrawals require prior parliamentary appropriation and express written authorization from her office.
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