Nairobi residents share views on fiscal legislations, call for safeguards in the proposed sovereign wealth fund

Thursday, 4 June, 2026

Nairobi residents share views on fiscal legislations, call for safeguards in the proposed sovereign wealth fund

Residents of Nairobi Country across the 17 Sub-Counties have shared their views on the proposed fiscal legislation so as to influence legislation, policy and help lawmakers make informed decisions.

Members of the public raised their concerns in a public participation forum on the Sovereign Wealth Fund Bill, the Central Bank (Amendment) Bill, the Kenya Revenue Authority (Amendment) Bill and the Finance Bill.

Speaking during the session, Turkana South MP. Hon. Dr. John Ariko Namoit encouraged Kenyans to actively participate and give views, describing the exercise as a bargaining arena for the taxpayers to negotiate and influence tax measures.

He emphasized that while the Finance Bill is prepared by the National Treasury, that the Committee plays a mediator role between the government and the people by ensuring that the views of Kenyans are considered before the proposals are enacted into law.

Supporting his sentiments, Chesumei MP. Hon. Paul Biego Kibichiy, urged Kenyans to share their views freely and take part in the law making process.

Several residents raised concerns and made proposals on various proposed legislation provisions.

Mr. Francis Wambua from Starehe expressed satisfaction with the drafting of the Bills, but sought assurance on implementation and accountability.

"I have no issue with the Paper work. From the explanation given to us, the Bills are very okay, but how sure are we that the Funds will help Kenyans?," he posed.

Mr. Ismael Abdalla from Makina ward backed the exemption of 16 per cent VAT on electric bicycles, supply of solar and lithium-ion batteries. However, he asked the Committee to consider extending the exemption to other batteries and non- electric motorcycles.

Mr. Samson Kumenda, from Njiru ward called for a review of the proposal to in increase duty-free allowance for returning travellers from abroad, emphasizing that people who travel out of the country should as well pay taxes for the goods they bring along.

He further asked Kenyan Ambassadors serving other countries to identify job opportunities for the Kenyan youths, saying the approach would help expand the tax base.

Supporting the establishment of the Sovereign Wealth Fund Bill 2026, Mr. Nicholas Kibiwott urged the Committee to ensure that its Board is composed of professionals to prevent misappropriation of the funds. 

Mr. John Kotoa of the Kenya Human Rights Commission proposed the introduction of wealth taxation for Kenyans with a net worth of more than Ksh. 120Million, describing the measure as an applausible avenue for enhancing domestic revenue generation.

He also called for an amendment of Clause 55, which proposes exemption of aircraft parts, arguing that they are not basic commodities.

The Committee Chairperson, Hon. Kimani Kuria (Molo) responded to the questions raised and also clarified the misconceptions doing rounds on social media on the fake versions of the proposed legislation.

Hon. Kuria assured Kenyans that the Sovereign Wealth Fund would create savings base for the future generations as well as provide the national government with resources for the management of any shocks that may affect stability of the country.

He further committed that his led Committee would ensure businesses benefitting from VAT exemptions transfers the benefit to consumers.

He reiterated that individuals found culpable of violating the regulations governing the Fund would face the law including imprisonment and that authority is given to the Office of the Auditor General to audit the Fund and ensure accountability.

He further called on the participants to share accurate information about the Bills and encourage more Kenyans to participate in the public engagement process.

“I urge all Kenyans present during this meeting to become true ambassadors of the Bills when you get out there,” Hon. Kuria said.


Nairobi residents share views on fiscal legislations, call for safeguards in the proposed sovereign wealth fund