President Ruto Unveils Infrastructure and Sovereign Wealth Funds for Kenya's Future
President William Ruto has unveiled plans for two significant funds to drive Kenya's transformation and secure its future. Meanwhile, he has addressed concerns over the national identification card replacement fee and warned health facilities against charging Kenyans for outpatient services.
Ruto is establishing the Infrastructure Fund and the Sovereign Wealth Fund. The Infrastructure Fund aims to boost Kenya's power generation from the current 2,300 megawatts to a minimum of 10,000 megawatts. It will also finance agricultural transformation, agro-processing, industrialisation, manufacturing, and road construction.
The Sovereign Wealth Fund, led by an unidentified individual, will help Kenya save for the future and generate long-term financial returns. The government has paid health insurance for 2.5 million vulnerable Kenyans, ensuring they can access healthcare services.
Ruto has extended the free replacement window for national IDs until after the 2027 elections. He has also commended MPs for approving the privatisation of the Kenya Pipeline Company (KPC) Limited, expected to raise KSh130 billion.
President Ruto's initiatives aim to secure Kenya's future through increased power generation, infrastructure development, and long-term financial planning. The free ID replacement window and health insurance coverage for vulnerable Kenyans demonstrate his commitment to ensuring no one is left behind.
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