Kenya: MPs to Hold Public Hearings On Sovereign Wealth Fund, PFM Amendment Bills

21 April 2026
Capital FM (Nairobi)
By Irene Mwangi

Nairobi — The National Assembly's Departmental Committee on Finance and National Planning will begin public participation on two key financial reform Bills starting Wednesday, in a move that could significantly reshape Kenya's fiscal management framework.

At the center of the exercise is the proposed Sovereign Wealth Fund Bill, 2026, sponsored by Majority Leader Kimani Ichung'wah, which seeks to establish a legal framework for the creation and management of a national sovereign wealth fund.

The proposed law aims to transform Kenya's natural resource revenues into sustainable long-term investments by establishing a three-tier structure that include the Stabilization Fund - to cushion the economy against shocks, the Infrastructure Fund - to finance strategic national projects and the Future Generations Fund - to secure wealth for future citizens.

If enacted, the Bill will anchor principles of intergenerational equity, ensuring proceeds from non-renewable resources are invested in diversified global assets for long-term national benefit.

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The legislation was published on March 9, 2026, and read for the first time on March 11 before being committed to the Finance and National Planning Committee for review.

The Committee will also collect public views on the Public Finance Management (Amendment) Bill, 2025, also sponsored by Kimani Ichung'wah.

The Bill seeks to streamline how additional funds are allocated to county governments by eliminating duplication in managing intergovernmental allocations, repealing Sections 191A-191E of the Public Finance Management Act and introducing clearer frameworks for intergovernmental agreements on additional funding.

First published on April 24, 2025, the Bill was read for the first time on December 2, 2025, before being referred to the Committee.

The public participation exercise is part of Parliament's constitutional requirement to involve citizens in the legislative process before Bills are debated and passed.

The National Assembly of Kenya committee is expected to gather views from stakeholders, experts, and members of the public before tabling its report in the House.

The two Bills are seen as critical to strengthening Kenya's fiscal discipline and long-term economic planning.

While the Sovereign Wealth Fund Bill focuses on building national savings and investment buffers, the PFM Amendment Bill aims to enhance efficiency and accountability in public resource allocation--particularly between the national and county governments.

Read the original article on Capital FM.

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