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President William Ruto meets Norwegian Shipowners’ Association, Andreas Enger in Oslo, Norway June 9, 2026. [PCS, Standard]
Kenya’s new Sovereign Wealth Fund may eventually accumulate billions of shillings. But the most important question will not be where the money is invested. It will be who is entrusted to govern it.
The Sovereign Wealth Fund Act, 2026 (which took effect on July 24) sets up three main pillars: A Stabilisation Fund, a Strategic Investment Fund, and a Future Generations Fund. The fund will be financed primarily from petroleum and mining revenues, together with other approved sources. This is an important step towards converting natural resources into long-term national wealth. But the law is only the beginning. Its success will depend ultimately on the institution entrusted with managing that wealth.
Under the Act, leadership falls to a board made up of a presidentially appointed chairperson, three Principal secretaries (or their representatives), four competitively recruited non-public officers, and a non-voting CEO.
