MPs to conduct public participation on two crucial economic reform bills

The exercise, led by the Departmental Committee on Finance and National Planning, will focus on the proposed Sovereign Wealth Fund Bill, 2026, and the Public Finance Management (Amendment) Bill, 2025.

The Sovereign Wealth Fund Bill seeks to establish a legal framework for setting up and managing a national savings fund, where Kenya can invest proceeds from its natural resources such as oil, gas, and minerals.

If passed into law, the fund will be structured into three key components: a stabilization fund which will cushion the economy during financial shocks; an infrastructure fund which will finance major development projects; and a future generations fund which will save and invest wealth for the benefit of Kenyans in years to come.

The proposed law is also designed to ensure income from non-renewable resources is invested in global assets to secure long-term returns.

The bill, sponsored by National Assembly Majority Leader Kimani Ichung'wah, was published on March 9, 2026 and read for the first time on March 11, 2026, before being referred to the Finance Committee for further scrutiny.

At the same time, the committee is reviewing the Public Finance Management (Amendment) Bill, 2025, which seeks to streamline how additional funds allocated to county governments are managed.

Also sponsored by Ichung'wah, the bill aims to introduce a framework to guide how extra allocations are disbursed and utilized at the county level.

Finance Committee Chair Kuria Kimani said the two bills are critical in shaping the country’s financial future.

“Today, we took decisive steps toward strengthening Kenya’s economic future,” he stated.

“The Sovereign Wealth Fund Bill and the Public Finance Management (Amendment) Bill are more than legislation, they are a commitment to safeguarding our nation’s wealth, enhancing transparency, and ensuring that revenues from our natural resources are invested wisely for generations to come,” he added.

The committee is expected to collect views from members of the public and stakeholders before tabling its report in Parliament for further consideration.

Those wishing to submit their views are invited to do so at Committee Room, Third Floor at Bunge Tower from 10am.