ODM leader Oburu Odinga has urged President William Ruto to remain firm in pursuing policies that will secure Kenya's long-term economic future, saying bold leadership is sometimes necessary to overcome political resistance and deliver lasting benefits for the country.
Speaking after witnessing progress on the Sovereign Wealth Fund Bill at State House on Wednesday, the Siaya Senator said he had advised the President to focus on decisions that serve the national interest, even when they are unpopular.
Oburu said he encouraged Ruto to occasionally exercise what he described as "benevolent dictatorship" by standing firm on policies that will strengthen the country's future.
"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.
He said the proposed Sovereign Wealth Fund law could become one of Kenya's most important economic reforms by creating a clear framework for managing national wealth while protecting the economy against future financial shocks.
The veteran politician noted that his support for the initiative dates back several years. He recalled first learning about sovereign wealth funds during a visit to Botswana while serving as Assistant Minister for Finance, saying the experience convinced him that Kenya could benefit from adopting a similar model.
According to Oburu, his training in economics helped him appreciate the value of establishing a fund that goes beyond managing public finances by strengthening the country's ability to withstand economic challenges.
He said the Sovereign Wealth Fund would separate national resources into different pillars aimed at preserving wealth for future generations, supporting economic stability and financing strategic investments.
"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.
He added that the fund would provide reliable local financing for key development projects, reducing pressure on public finances while helping improve the lives of Kenyans.
The proposed legislation introduces a structured system for managing the country's national wealth by setting aside savings for future generations, supporting economic stabilisation and financing strategic infrastructure projects. It is expected to strengthen Kenya's financial resilience while promoting prudent management of public resources.
The Sovereign Wealth Fund will also invest surplus revenue generated from natural resources and other public assets to ensure the country's wealth benefits both present and future generations. It is further intended to provide a financial buffer during periods of economic uncertainty, reducing Kenya's exposure to external shocks.
The Bill forms part of the government's wider economic reform agenda aimed at improving public finance management, promoting transparency and supporting sustainable development.
It also establishes governance structures for managing the fund, including measures to ensure accountability, transparency and oversight in the investment and use of public resources.
Government officials have maintained that the Sovereign Wealth Fund will support priority national development projects while preserving wealth for future generations, positioning it as a key pillar of Kenya's long-term economic strategy.