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

Kenya: State eyes mega fund to manage country’s wealth

Posted on 14 October 2013

Kenya plans to set up a mega fund that will manage and re-invest revenues that the government gets mostly from natural resources as the country readies itself to start exploitation of oil and other minerals. The proposed National Sovereign Wealth Fund, which will get a Sh10 billion seed capital from the National Treasury, will be used to support macroeconomic stability and public investment, notably development of infrastructure.
The special fund seeks to help the country avoid ‘the resource curse’ that has afflicted many resource rich countries. The Fund will also have a key mandate to set aside wealth acquired for Kenya’s future generations that will not immediately enjoy returns from oil and minerals that the country has discovered in substantial quantities………………………………………..Full Article: Source


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