NAIROBI, Kenya Jul 12 – Interior Principal Secretary Raymond Omollo has said the recently established Kenya Sovereign Wealth Fund will play a critical role in safeguarding revenues generated from the country’s natural resources while supporting long-term economic growth and strategic investments.
According to Omollo, the fund is designed to preserve a portion of proceeds generated from key natural resources, including minerals and petroleum, for the benefit of future generations while strengthening economic stability.
“The Sovereign Wealth Fund is designed to preserve a portion of revenues generated from the country’s natural resources for future generations while supporting long-term economic stability and strategic investments,” he said.
The Principal Secretary noted that resource-rich counties such as Siaya stand to benefit significantly from the initiative as Kenya seeks to maximise value from its mineral wealth.
He pointed to ongoing gold mining activities in Siaya County, saying revenues generated from the sector could contribute to national savings while stimulating local economic growth and creating employment opportunities for residents.
Omollo added that the fund would ensure that wealth generated from natural resources is invested prudently to deliver long-term benefits to both current and future generations of Kenyans.
At the same time, he said plans to establish Kenya’s first nuclear power plant in Siaya County continue to gain momentum, describing the project as a major milestone in the country’s energy and industrial development agenda.
According to the Interior PS, the proposed nuclear facility is expected to enhance Kenya’s energy security by providing reliable electricity to support industries and accelerate economic transformation.
He noted that increased and dependable power supply would be critical in supporting manufacturing, attracting investment and advancing Kenya’s industrialisation ambitions.
The government has positioned the Sovereign Wealth Fund as a key pillar in ensuring that proceeds from extractive industries are channelled into long-term national development priorities rather than short-term expenditure.
The initiative is also expected to support infrastructure development, economic resilience and intergenerational equity as Kenya prepares to unlock greater value from its natural resources sector.
