The Government has taken a major step towards safeguarding Kenya’s natural resource wealth for future generations following President William Ruto’s assent to the Sovereign Wealth Fund Act, Principal Secretary for Internal Security and National Administration Dr.Raymond Omollo, has said.
Speaking during a Women Empowerment Forum in Gem, Siaya County, Dr. Omollo said the new law establishes a framework for the prudent management of revenues generated from the country’s natural resources, ensuring that current and future generations benefit from the exploitation of national assets.
He noted that for many years, Kenya has exploited natural resources without a comprehensive mechanism to account for and preserve the proceeds for future generations. The Sovereign Wealth Fund, he said, will ensure that a portion of revenues generated from natural resources is invested and safeguarded for the longterm welfare of Kenyans.
“The President has now made this a reality. As a country, we must ensure that the wealth generated from our natural resources benefits our people today while also securing the future of generations to come,” said Dr. Omollo.
The PS added that the new legal framework will also enhance transparency and accountability in the management of revenues from natural resources while creating confidence among investors interested in partnering with Kenya in resource-based development projects.
Dr. Omollo further emphasized the need to attract private investment to complement Government efforts in driving development and creating economic opportunities across the country. He said investments in natural resources must translate into better livelihoods, jobs and improved public services for local communities.
On governance and service delivery, the PS revealed that the Government has operationalized more than 1,800 administrative units across the country since President Ruto assumed office, including several new locations and sub-locations in Siaya County.
He said the expansion of administrative units has brought government services closer to wananchi, making it easier for citizens to access national identity cards, civil registration services and other essential government programmes.
Dr. Omollo urged residents to take advantage of the ongoing national registration and voter registration exercises, noting that identification documents are critical in enabling citizens to access government services and participate in democratic processes.
He observed that the Nyanza region has the potential to register close to one million new voters and encouraged eligible citizens who have attained the age of 18 years to register and exercise their democratic rights.
The PS also lauded women for their contribution to economic growth and community development, reaffirming the Government’s commitment to supporting women empowerment initiatives through programmes that enhance entrepreneurship, financial inclusion and household incomes.
He called for unity, peaceful coexistence and collective participation in development programmes, noting that sustainable progress can only be achieved when citizens work together with government to advance shared development goals.
