Kenya is taking a bold new step toward financial independence as President William Ruto announced plans to create a sovereign wealth fund and an infrastructure fund — two major initiatives aimed at driving development without piling up more debt.
According to Ruto, the funds will help channel investments into key sectors while reducing the country’s dependence on expensive foreign loans. “We are in the process of having two important funds — one infrastructure fund, and the other, a sovereign wealth fund,” he said, emphasizing that Kenya must “think about the generations of tomorrow.”
To kickstart the funds, the government plans to privatize certain state-owned companies, starting with the Kenya Pipeline Company, whose sale could generate up to KSh130 billion ($1.01 billion). The money raised will serve as seed capital for both funds.
The president said agriculture, energy, and industry will be top priorities. The infrastructure fund will help farmers increase productivity and export capacity, while investments in power generation aim to raise Kenya’s energy output from 2,300 megawatts to at least 10,000 megawatts, enough to support full industrialization.
Ruto stressed that Kenya’s growth must move beyond average performance, setting the nation on a more ambitious and sustainable path. While the timeline for launching the funds remains unclear, the initiative signals a strategic shift — one designed to attract private capital, create jobs, and secure Kenya’s long-term prosperity.
