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Kenya’s Sovereign Wealth Fund: 10 questions the 2025 Bill has yet to answer
Kenya has repeatedly seen notionally independent institutions eroded by budgetary control and administrative interference. The heart of institutional design is not formality—it is insulation.
When Kenya first enacted the Sovereign Wealth Fund Act in 2023, the ambition was clear: to create an institutional mechanism capable of transforming finite national revenues—whether from privatization, extractives, or fiscal surpluses—into sustainable, intergenerational investments.
That vision briefly stirred optimism. The country was poised to join the ranks of nations using wealth funds to smooth economic shocks and accumulate long-term reserves.
