Parliament invites public submissions on Finance Bill, 2026 and key financial reforms

The National Assembly has invited public submissions on the Finance Bill 2026, Sovereign Wealth Fund Bill, and amendments to the Central Bank and Kenya Revenue Authority Acts, in a nationwide public participation exercise that will run across 13 counties.

In a notice issued on May 30, 2026, Parliament said the Finance and National Planning Committee will hold public hearings between June 2 and June 8 as required under Article 118(1)(b) of the Constitution.

“IT IS NOTIFIED that the Departmental Committee on Finance and National Planning has resolved to hold Public Hearings on the Sovereign Wealth Fund Bill (National Assembly Bill No. 7 of 2026); the Finance Bill (National Assembly Bill No. 26 of 2026); the Central Bank (Amendment) Bill (National Assembly Bill No. 27 of 2026); and the Kenya Revenue Authority (Amendment) Bill (National Assembly Bill No. 28 of 2026),” the notice reads.

The hearings will take place in 13 counties, including Nairobi, Mombasa, Kiambu, Siaya, Turkana, Wajir, and Kilifi, with sessions scheduled between June 2 and June 8 at designated public venues.

Under the Central Bank (Amendment) Bill 2026, sponsored by MP Kuria Kimani, the Central Bank of Kenya would be empowered to expand its operations in precious metals, including bullion, silver and platinum, as well as to provide emergency liquidity support to financial institutions.

The Bill also proposes that Deputy Governors of the Central Bank be subjected to approval by the National Assembly.

The Kenya Revenue Authority (Amendment) Bill 2026, sponsored by the Leader of Majority Party, seeks to revise administrative provisions under the KRA Act, including removal of references to “ex-officio” positions and updating revenue-related schedules in tax administration laws.

The Sovereign Wealth Fund Bill 2026 is designed to establish a state-owned investment vehicle to manage surplus public funds and revenue, with the aim of stabilising the economy, saving for future generations and supporting long-term national development projects.

Economists note that sovereign wealth funds are typically used by governments to invest surplus revenues—often from natural resources or fiscal savings—into diversified global assets to ensure long-term fiscal sustainability and economic resilience.

The Central Bank amendment proposals also align with broader reforms aimed at strengthening financial stability frameworks, including liquidity support mechanisms for banks during economic shocks, a function commonly embedded in modern central banking systems globally.

Parliament has invited members of the public and stakeholders to submit written memoranda to the Clerk of the National Assembly by Monday, June 8, 2026 at 5:00 p.m. Submissions may be delivered physically at Parliament Buildings in Nairobi or emailed to the Finance Committee.

“The public is invited to submit memoranda… in compliance with Article 118(1)(b) of the Constitution and Standing Order 127(3),” the notice adds.

Public hearings will be held as follows:Vihiga County (Praise Centre Church, Mbale), Wajir County (ICT Hall, Wajir Town), Kiambu County (Kiambu National Polytechnic), Nairobi County (College of Insurance, South C), Siaya County (Siaya Institute of Technology), Makueni County (Wote Greenpark Gardens), Nyamira County (West Mugirango NGCDF Hall), Bomet County (St. Bakhita Youth Training Hall), Taita Taveta County (Mwatate CDF Hall), Turkana County (Turkana University, Lodwar), Tana River County (County Hall, Hola), Kilifi County (Coast Development Authority Hall), and Mombasa County (Tononoka Social Hall).

Copies of the Bills are available at the National Assembly Table Office and on Parliament’s official website as deliberations begin on what could become major fiscal and financial sector reforms.