Freedom fighters’ caucus welcomes Sovereign Wealth Fund law, begins search for chairperson
By MKT Reporter
A caucus representing former freedom fighters and their descendants has welcomed President William Ruto’s assent to the Sovereign Wealth Fund Act, saying the new law marks a historic step towards securing Kenya’s long-term economic future and preserving national wealth for generations to come.
The group, MMV Associates CLG, said the establishment of the Sovereign Wealth Fund would ensure that revenues generated from the country’s strategic investments and natural resources are prudently managed, invested and preserved for both present and future generations.
Speaking during a press briefing after a meeting at Blue Post Hotel in Thika, the organization’s Chief Executive Officer, Emmah Kasis, said the law demonstrated the government’s commitment to safeguarding national wealth beyond the current generation.
She noted that the fund is expected to enhance economic stability by creating long-term savings for the country, cushioning the economy during periods of financial shocks, supporting strategic national investments and ensuring that benefits from Kenya’s natural resources are shared equitably across generations.
Kasis said prudent management of the fund would also strengthen investor confidence, promote fiscal discipline and provide resources that could support national development projects without placing excessive pressure on taxpayers.
She said members of the caucus, many of whom are descendants of freedom fighters, believe the legislation offers hope that future generations will benefit from wealth created through the country’s natural resources and strategic assets.
“The enactment of the Sovereign Wealth Fund law is an important milestone because it lays the foundation for preserving national wealth for generations to come while supporting sustainable economic growth,” she said.
The Sovereign Wealth Fund Act establishes a legal framework for managing and investing Kenya’s surplus revenues from strategic assets and natural resources through professionally managed investment vehicles. The government has said the fund is intended to build long-term national savings, stabilize the economy during downturns and finance strategic development priorities.
During the meeting, MMV Associates CLG also announced that it had begun the process of identifying a substantive chairperson to lead the organization.
Kasis said consultations are underway and expressed confidence that the caucus would settle on a chairperson before this year’s Mashujaa Day celebrations on October 20.
She said the incoming chairperson will work closely with the organization’s Director General, James Njuguna Mahuria, to accelerate ongoing efforts aimed at securing compensation for former freedom fighters and their families.
The new leadership will also coordinate with senior members of the organization in documenting Kenya’s liberation struggle to preserve the history and sacrifices of independence heroes for future generations.
“We want to ensure that the stories of those who fought for Kenya’s independence are properly documented and preserved so that future generations understand the sacrifices that secured the country’s freedom,” Kasis said.
The search for the caucus chairperson comes at a time when the Ministry of Defence has also invited applications for the position of Chairperson of the Advisory Committee on Military Veterans.
According to a public notice issued by the ministry, the vacancy will arise on August 4, 2026, in accordance with the Military Veterans Act.
Eligible applicants must be retired general officers from the former Kenya Armed Forces or the current Kenya Defence Forces and must meet the integrity requirements of Chapter Six of the Constitution.
The Advisory Committee on Military Veterans plays a key role in advising the government on policies affecting retired service personnel and overseeing matters relating to their welfare under the Military Veterans Act.
Kasis described the parallel leadership transitions as significant, saying they reflect renewed efforts to strengthen institutions that represent individuals who made sacrifices in the service of the nation.
She expressed optimism that closer collaboration among organizations representing freedom fighters, military veterans and their descendants would enhance advocacy for their welfare while ensuring that Kenya’s liberation history is preserved as part of the country’s national heritage.
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