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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Kenya economy to grow By 5.6 pct this year - Treasury

Posted on 18 November 2013

The proposed sovereign wealth fund for Kenya should have an initial start-up capital of Sh10 billion, the presidential taskforce on parastatals has recommended. The fund will be funded mainly from capital increases from privatisation proceeds and surplus foreign exchange reserves as well as dividends from public enterprises. A key funding source for the fund will be expected returns from oil, gas and minerals.
According to the report, the purpose of the the fund is to r oll out local renewable energy schemes, fund restoration and rehabilitation of excavated areas and support government savings from mineral revenues to ensure sustainable and stable future incomes………………………………………..Full Article: Source


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