Orange Democratic Movement (ODM) leader and Siaya Senator Oburu Odinga has urged President William Ruto to stand firm in implementing policies he believes are in Kenya’s long-term interest, even when they face political opposition.
Speaking at State House on Wednesday during the signing into law of the Sovereign Wealth Fund Bill, Oburu said difficult economic reforms often require leaders willing to withstand criticism in pursuit of national goals.
“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.
His remarks came as President Ruto assented to the Sovereign Wealth Fund Act, legislation the government says will establish a framework for managing national wealth through savings for future generations, economic stabilisation and strategic investments.
Oburu described the new law as one of the country’s most significant economic reforms, saying it could strengthen Kenya’s ability to weather economic shocks while providing long-term funding for key development projects.
The senator said he first became interested in the concept of sovereign wealth funds during a visit to Botswana while serving as Assistant Minister for Finance. Drawing on his background in economics, he argued that such a fund could help Kenya better manage public resources and protect the economy during periods of uncertainty.
“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,” he said.
Under the new law, surplus revenues generated from natural resources and other public assets will be invested through the fund, with the aim of preserving wealth for future generations while supporting national development priorities.
The legislation also establishes governance structures intended to promote accountability, transparency and oversight in the management and investment of public resources.
Government officials say the fund will strengthen Kenya’s public finance framework by creating a financial buffer against future economic shocks and reducing dependence on external borrowing for strategic investments.
Oburu’s call for firmer leadership is likely to spark debate, with supporters arguing that decisive action is sometimes necessary to push through difficult reforms, while critics may view the language of “benevolent dictatorship” as raising concerns about democratic governance and accountability.
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