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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Treasury Issues Update on Kenya Pipeline Status After Privatisation - April 2026
The National Treasury has officially removed the Kenya Pipeline Company (KPC) from its list of state entities following the completion of its Initial Public Offering (IPO), marking a significant milestone in Kenya's privatisation efforts. The Treasury had previously received Ksh103 billion from the partial sale of KPC. Meanwhile, the Controller of Budget, Dr Margaret Nyakango, 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. Separately, the National Treasury invited Kenyans to submit their ideas for the 2026/27 Budget Statement, set to be presented to Parliament on June 11, 2026, with public consultation focused on economic policy, expenditure priorities, and tax measures.
