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Originally published by The Standard
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May 2, 2026
3h ago

Lobby groups seeks withdrawal of Sovereign Wealth Fund Bill

Lobby groups seeks withdrawal of Sovereign Wealth Fund Bill

The groups say that before passing the Sovereign Wealth Fund Bill, parliament has an obligation to the Kenyan people to provide clear, satisfactory answers...

✨ Key Highlights

Several civil groups under the Okoa Uchumi Campaign are demanding that the Kenyan Parliament halt the proposed Sovereign Wealth Fund Bill 2026, citing a lack of adequate public participation and insufficient safeguards.

  • The groups argue that the Bill lacks binding safeguards against misuse of reserves, fearing it could become an "election-season cash reserve."
  • Key figures include Elvis Wambura, founder and chairperson of Special Interests Group, who stated the Bill should have been preceded by a Sessional paper approved by the National Assembly.
  • The civil society organizations insist that the fund's development must follow proper legal and policy processes, linking it to Kenya's national development priorities.

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