President William Ruto has once more called on the Parliament to greenlight the crucial financial innovations that will lead Kenya to be a first-world country. He pointed out that the country cannot keep on borrowing for too long.
During his speech at the launch of the KenGen–Kaishan Olkaria Green Fertilizer Plant in Nakuru County, President Ruto urged local parliamentarians to first facilitate the discussion of and then approve the Sovereign Wealth Fund and National Infrastructure Fund.
In his remarks, he emphasized that the National Infrastructure Fund and the Sovereign Wealth Fund are at the core of the government strategy to deepen implementation of the budget through private sector partnerships and local resources mobilization.
“We should not be allowed to borrow to finance growth any longer. It is time that we get our own resources and also look for the private sector to help us transform Kenya,” President Ruto explained.
The Chief of State re-emphasized his position that Kenya needs over KSh 4 trillion for the realization of the transformation goals of the country and advanced his opinion that the set target is attainable through creative financing and investment-friendly models.
Furthermore, President Ruto highlighted privately funded projects as the best way to fast-track Kenya’s industrialization agenda. As such, he cited, the first public–private partnership in power will facilitate the next phase of Kenya’s transition to clean energy.
The same day, Ruto also committed to the building of the KSh 200 billion Rironi–Mau Summit Road Crowned with an announcement that the project would be launched before the end of the month.
He described it as a critical factor in deepening trade, logistics, and regional connectivity.
Besides, the President’s statements arrive amidst heated discussions on how Kenya can best manage its debts while enhancing local revenue collection through an investment-led growth model.
