New law prohibits government from borrowing against future generation billions
The law prohibits the use of the Future Generations Fund from any form of advances, credits, and collateral by the government...
✨ Key Highlights
President William Ruto has officially signed the Sovereign Wealth Fund Bill, 2026 into law, establishing a dedicated fund for Kenya's mineral and petroleum riches.
- 30 percent of all mineral and petroleum revenues will be allocated to a Future Generations Fund.
- The fund aims to balance present-day infrastructure investment with long-term savings for future Kenyans.
- The legislation was hailed by President Ruto as the most consequential law passed by the 13th Parliament.
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Court Orders Government to Account for Duty-Free Rice Imports Within 7 Days - July 2026
The High Court in Kisumu has ordered top government officials to account for Kenya's duty-free rice importation program within seven days after Ahero rice farmers challenged the policy. The government has authorized the duty-free importation of 490,000 metric tonnes of Grade 1 white milled rice, with this directive issued by National Treasury Cabinet Secretary John Mbadi aiming to address shortages driven by increased production costs and adverse weather. Separately, President William Ruto has officially signed the Sovereign Wealth Fund Bill, 2026 into law, establishing a dedicated fund for Kenya's mineral and petroleum riches and prohibiting government from borrowing against future generation billions. These stories reflect government actions to address commodity shortages and manage national resources.
