Kenya Sovereign Wealth Fund

At a glance. Kenya's Sovereign Wealth Fund Act came into force on 24 July 2026, creating a fund with stabilisation, strategic infrastructure and future generations components fed by oil and mining revenue. Thirty percent of inflows go to future generations. Accounts sit at the Central Bank of Kenya; no capital, board or chief executive had been announced by October 2026. S1 S3

Key points

• President William Ruto signed the Act on 8 July 2026. S4
• Inflows land in a Holding Account, then 30 percent goes to future generations within ten days. S1
• The other 70 percent is split yearly between stabilisation and infrastructure by the Finance Cabinet Secretary and the Board. S1
• Barred from private equity, unlisted real estate, commodities and Kenyan issuers. S1
• No withdrawals in the three months before a general election. S1

Interesting facts

• Press calls the future generations window the Urithi Fund. S4
• The Act also amends the Mining Act, the Petroleum Act and the Kenya Revenue Authority Act. S1
• Parliament must approve the investment policy. S1

Mandate and goals

Support long-term fiscal sustainability and share resource wealth across generations. S1

• Buffer the budget from resource revenue swings. S1
• Finance strategic infrastructure priorities. S1
• Save for when minerals and petroleum run out. S1

How it invests

Published criteria

• No speculative derivatives, private equity, art or commodities. S1
• No Kenyan issuers or Kenyan real estate. S1

Past investments

The fund has not published a list of investments.

Investment process

A Board chaired by a presidential appointee, with Treasury, mining, petroleum and central bank officials and four independent members, oversees a competitively hired CEO. S1

1. Revenue to Holding Account. S1
2. Split to three components within ten days. S1
3. Audited by the Auditor-General. S1

How to approach: No approach route until the Board is in place. S1

Size and returns

• Headline size: Not disclosed (Fund market value, as of 2026-07-08) S3
• Returns: the fund does not publish a return figure.

Leadership

The fund does not publish named leaders.

Governance and transparency

• Legal basis: Sovereign Wealth Fund Act, No. 25 of 2026 S1
• Oversight: National Assembly and Auditor-General S1
• Auditor: Auditor-General S1
• Quarterly statements and an annual report within six months. S1
• Board terms of three years, renewable once. S1

Transparency score: 1.5 of 10 (band 1 of 5). Our own 10-item rubric; see the methodology page.

• Published: governance and mandate documents. S1
• Partly published: regular reporting schedule. S1
• Not published: total assets, annual return, long-term returns, asset allocation, geographic or sector split, holdings or deal list, audited financial statements, named leadership. S1 S3

History

Common questions

Is the fund operating?

The Act is in force but no capital or leadership has been reported. S1

What share goes to future generations?

30 percent of inflows. S1

Who audits it?

The Auditor-General. S1

Related profiles

• Eswatini Sovereign Wealth Fund Eswatini · E5B planned (about USD 275M)
• Tanzania Oil and Gas Fund (Natural Gas Revenue Fund) Tanzania · TZS 190.94B
• Botswana Sovereign Wealth Fund (BSWF) Botswana · Not yet capitalised
• Fonds Souverain de Guinee (proposed) Guinea · Not yet capitalised
• Lagos State Wealth Fund Nigeria (Lagos State) · Not created
• South Africa Sovereign Wealth Fund (proposed) South Africa · Not established, estimate

All sovereign wealth funds in Africa · All proposed or pipeline funds · All funds in Kenya

Sources

1. S1Kenya Law, Sovereign Wealth Fund Act, No. 25 of 2026
2. S2IFSWF, our members
3. S3Khusoko, Kenya Sovereign Wealth Fund Bill signed into law
4. S4KBC, Ruto signs Sovereign Wealth Fund Bill