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Why State is banking on oil, minerals fund to pay debts

Trucks of the first crude oil consignment from Lokichar,Turkana arrives at the Mombasa's Changamwe KPRL storage facility in Mombasa County on June 7, 2018. [File, Standard]

Kenya plans to establish a fund to manage proceeds from its nascent petroleum and mining industries.

In a new Bill, the National Treasury has proposed setting up the Sovereign Wealth Fund (SWF) that will be split into three components, with the key one saving earnings from the two sectors for Kenya’s future generations.

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