Principal Secretary for Internal Security and National Administration Dr. Raymond Omollo has hailed the enactment of the Sovereign Wealth Fund Act, saying the new law will ensure revenues generated from Kenya’s natural resources are prudently managed and preserved for the benefit of both current and future generations.
Speaking during a Women Empowerment Forum in Gem, Siaya County, Dr. Omollo said President William Ruto’s assent to the legislation marks a major milestone in the country’s management of natural resource wealth.
He noted that the Act establishes a legal framework for investing and safeguarding proceeds from the exploitation of natural resources, addressing a long-standing gap in the management of the country’s resource revenues.
“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 will ensure that a portion of revenues generated from natural resources is invested and safeguarded for the long-term welfare of Kenyans,” Dr. Omollo said.
He said the new legal framework would also promote greater transparency and accountability in the management of natural resource revenues while enhancing investor confidence in Kenya’s resource-based development projects.
According to the PS, attracting private investment remains critical in complementing government efforts to drive development and expand economic opportunities across the country.
He emphasized that investments in natural resources should translate into improved livelihoods, job creation and better public services for communities.
Dr. Omollo also highlighted the government’s efforts to improve service delivery through the expansion of administrative units across the country.
He revealed that more than 1,800 administrative units have been operationalized since President Ruto assumed office, including several new locations and sub-locations in Siaya County.
The expanded administrative network, he said, has brought government services closer to citizens, making it easier to access national identity cards, civil registration services and other essential public programmes.
The PS urged residents to take advantage of the ongoing national identification and voter registration exercises, stressing that identity documents are essential for accessing government services and participating in democratic processes.
He observed that the Nyanza region has the potential to register nearly one million new voters and encouraged all eligible citizens aged 18 years and above to register and exercise their democratic rights.
Dr. Omollo further commended women for their role in driving economic growth and community development, reaffirming the government’s commitment to supporting women empowerment initiatives through programmes aimed at boosting entrepreneurship, financial inclusion and household incomes.
He also called on Kenyans to embrace unity, peaceful coexistence and collective participation in development programmes, saying sustainable progress can only be achieved through collaboration between citizens and government.
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