Kenya’s Central Bank Chair Talks Sovereign Wealth
Mbui Wagacha, the chairman of Kenya’s central bank, commented the country was moving forward on creating a sovereign wealth fund. Kenya’s attorney general is working on drafting a framework for the sovereign wealth fund.
The future sovereign fund would have a number of mandates which include, a stabilization component, savings fund and infrastructure allocation.
The revenue would be derived from projected 2016 oil output from companies such as Africa Oil Corporation and Tullow Oil Plc.
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