PS Omollo: New law to safeguard Kenya's resource wealth

Internal Security PS Raymond Omollo says the recently enacted Sovereign Wealth Fund Act will secure Kenya's natural resource wealth for current and future generations...

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Kenya has enacted the Sovereign Wealth Fund Act to protect its natural resource wealth for present and future generations. Internal Security Principal Secretary Raymond Omollo stated this newly passed law establishes a framework for managing resource revenue.

The Act creates three funds: the Stabilisation Fund, the Strategic and Infrastructure Fund, and the Future Generations Fund (also known as the Urithi Fund).
The Future Generations Fund will receive 30 per cent of petroleum and mineral revenue.
Principal Secretary Raymond Omollo emphasized the importance of this law during a Women Empowerment Forum in Gem, Siaya County on Saturday.

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