Orange Democratic Movement (ODM) leader Oburu Odinga speaks during the signing into law of the Sovereign Wealth Fund in State House, Nairobi, on July 8, 2026./PCS
Orange Democratic Movement (ODM) leader Oburu Odinga on Wednesday urged President William Ruto to adopt what he described as "benevolent dictatorship" when making difficult decisions.
The Siaya Senator said bold leadership is necessary to secure Kenya's economic future.
Oburu said he offered President Ruto candid advice on leadership, urging him to remain steadfast in pursuing policies that serve the country's long-term interests.
"I encouraged the President to occasionally employ a level of 'benevolent dictatorship' to stand firm, cut through the political noise, and make the hard, bold decisions necessary to achieve the absolute best for all Kenyans," Oburu said.
Speaking after witnessing the progress of the Sovereign Wealth Fund Bill at State House on, Oburu said the proposed law could become one of the country's most significant economic reforms by creating a structured framework for managing national wealth and shielding the economy from future shocks.
The veteran politician said the legislation holds special significance for him, recalling that he first encountered the concept of a sovereign wealth fund during a visit to Botswana while serving as Assistant Minister for Finance.
According to Oburu, his background in economics convinced him then of the transformative potential such a fund could have for Kenya's long-term development.
He said a Sovereign Wealth Fund goes beyond managing public finances, arguing that it would help build fiscal resilience by separating national resources into strategic pillars while providing a buffer against external economic shocks.
"The Sovereign Wealth Fund is specifically designed to cushion our economy from volatile external shocks and unexpected economic downturns, while providing long-term, domestic financing for priority national development projects that will change lives across the country," Oburu said.
Oburu added that the fund would also provide long-term domestic financing for priority national development projects, which he said could improve the lives of Kenyans across the country.
The new law introduces a structured approach to managing Kenya's national wealth by separating savings for future generations, economic stabilisation and strategic infrastructure investments. It is expected to improve the country's financial resilience while promoting prudent management of public resources.
The Sovereign Wealth Fund will serve as a vehicle for investing surplus revenues generated from natural resources and other public assets, ensuring that the benefits are shared by both current and future generations. It also seeks to reduce the country's vulnerability to economic uncertainties by providing a financial buffer during periods of economic instability.
The legislation is part of the government's broader economic reform agenda aimed at strengthening public finance management, enhancing transparency and promoting sustainable development.
The law also provides governance structures for the management of the fund, including mechanisms to ensure accountability, transparency and oversight in the investment and utilisation of public resources.
Government officials have maintained that the Sovereign Wealth Fund will play a critical role in supporting priority national development projects while preserving wealth for future generations
