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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Kenya to form SWF for stakes in mining projects

Posted on 11 July 2013

Kenya will form a state-owned company that will hold stakes in mines and establish a sovereign wealth fund to manage revenue from the industry, Mining Secretary Najib Balala said.
The government is repealing a law that required at least 35 percent domestic ownership, reducing it to 10 percent that will be held by the government, Balala said in an interview on July 9 in the capital, Nairobi. The new legislation, creating what will be known as the National Mining Corp., is expected to be enacted by November, he said………………………………………..Full Article: Source


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