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Senior statesman Oburu Odinga has thrown his weight behind the proposed Sovereign Wealth Fund Bill, describing it as one of the most important economic reforms that could secure Kenya’s future while urging President William Ruto to remain firm in implementing transformative policies despite political pressure.
Speaking after attending an engagement at State House, Nairobi, Oburu said he was proud to witness the progress of the landmark legislation, revealing that the concept has remained close to his heart since his days as Assistant Minister for Finance.
He recalled that his appreciation for sovereign wealth funds dates back to an official visit to Botswana, where he first witnessed how such funds can safeguard a nation’s resources and strengthen long-term economic stability.
According to Oburu, Kenya now has an opportunity to adopt a structured framework for managing national wealth in a way that benefits both present and future generations.
He explained that the proposed Sovereign Wealth Fund would establish strategic financial pillars aimed at protecting the country’s economy against global shocks, economic downturns and fluctuations in government revenue.
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Beyond acting as a financial safety net, Oburu said the fund would also create a sustainable source of domestic financing for priority development projects, reducing dependence on expensive borrowing while accelerating investments in infrastructure, healthcare, education and other key sectors.
The veteran politician emphasized that prudent management of national resources remains essential if Kenya is to achieve long-term economic resilience and inclusive growth.
During the State House engagement, however, Oburu also delivered a candid message to President Ruto, encouraging him to demonstrate bold leadership by occasionally exercising what he described as benevolent dictatorship.
He clarified that such leadership does not imply authoritarian rule but rather the courage to make difficult decisions that serve the country’s long-term interests, even when they attract political criticism.
Oburu argued that meaningful reforms often require leaders to rise above partisan politics and remain focused on policies that deliver lasting benefits for citizens.
He urged the President to cut through political distractions and ensure national resources are managed efficiently for the benefit of every Kenyan.
The remarks come as the government continues advancing key economic reforms aimed at strengthening public finances, enhancing fiscal discipline and unlocking sustainable development.
If enacted, the Sovereign Wealth Fund Bill is expected to establish a framework for saving and investing national wealth while creating financial buffers that can support the economy during periods of uncertainty.
Oburu expressed optimism that the legislation would become a lasting legacy for Kenya, saying its successful implementation could help secure prosperity for generations to come while positioning the country on a stronger path toward economic stability and self-reliance.
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