Sovereign Wealth Fund Act

8. Transfers from the Holding Account

Edition: 2026-07-24 · In force

8. Transfers from the Holding Account

(1)Any deposits into the Holding Account shall be transferred into the respective components of the Fund.

(2)Subject to subsection (1) ─

(a)thirty percent of the amount in the Holding Account shall be transferred into the Future Generations Component; and

(b)the remaining seventy percent shall be transferred into the Stabilization Component and Strategic Infrastructure Investment Component in such proportions as may prescribed by the Cabinet Secretary in consultation with the Board at the beginning of each financial year.

(3)The transfer of deposits under subsection (2) shall be within ten days from the date of receipt.

(4)In specifying the proportions under subsection (2), the Cabinet Secretary shall consider—

(a)the need to maintain macro-economic stability;

(b)the competitiveness of the non-resource sector;

(c)investments in strategic priority projects; and

(d)the need to provide at least ten per cent savings for future generations.

(5)The Cabinet Secretary shall, in preparing the national budget that incorporates monies from the Fund, ensure that the government’s non-resource primary balance over the medium-term does not exceed the threshold as may be set in regulations.

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Source: Kenya Law