How Ruto plans to transform Kenya into first-world economic status

President William Ruto has outlined a clear roadmap of the government's ambitious Ksh.5 trillion plan to take Kenya to first-world economic status.

The President cited the imminent establishment of the National Infrastructure Fund as the instrument for mobilising the necessary resources to upgrade and expand infrastructure, boost food security through irrigation, and generate more energy to power value addition, agro-processing and industrialisation.

He also explained that the creation of a Sovereign Wealth Fund would help use current resources and assets to safeguard future generations.

Speaking during the 62nd Jamhuri Day celebrations at Nyayo National Stadium in Nairobi on Friday, the President expressed the country's gratitude to our founding fathers who fought gallantly for freedom against colonialism and won Kenya's independence.

He appealed to Kenyans to take the example of the independence generation to now strive for economic freedom and ensure that no Kenyan is left behind.

President Ruto used the occasion to enumerate what the government has done and plans for taking Kenya to first-world status.

The President said the reforms undertaken by the government in agriculture, health, education, water,  energy, infrastructure and technology, among others, were aimed at attaining economic freedom and taking Kenya to a first-world economy.

He explained that the Government-Owned Enterprises Bill, which he signed into law three weeks ago, was transformative and would revolutionise the way State corporations are run.

"The new law revolutionises the management and governance of State-owned enterprises, professionalising boards through merit-based independent appointments, and tying leadership to measurable results," he said.

He described the move as the most far-reaching reform of government corporations since independence, aimed at turning legacy parastatals into commercially disciplined companies that will serve public interest.

"The passage of this law ends the era of cronyism and patronage in State corporations. This law explicitly disqualifies any person who has served in a public or political office within the past five years from appointment," he said.

Additionally, the President announced that on Monday, the Cabinet will meet to consider and approve the architecture of the new National Infrastructure Fund as the engine that will align the country's financial resources with Kenya's development goals.

At the same meeting, the Cabinet will consider and approve the Sovereign Wealth Fund Policy, which is anchored on three pillars - saving for future generations, stabilisation against global shocks, and strategic national investments.

"Through innovative mobilisation of domestic resources, strategic monetisation of mature national assets, democratisation of ownership through capital markets, and innovative deployment of national savings, we will unlock large-scale private sector capital to fund our national priorities while reducing reliance on borrowing and taxation," he said.

The President also disclosed that natural resource royalties, dividends from public investments and a percentage of privatisation proceeds will capitalise the National Infrastructure Fund.

"This fund will impose on us the obligation of inter-generational equity, bringing to life Article 201 (c) of the Constitution, which demands that the burdens and benefits of the use of resources and public borrowing shall be shared equitably between the present and the future, without shortchanging future generations," he said.

At the same time, the Head of State urged Kenyans to embrace patriotism.

The President pointed out that the collective interest of all citizens, which forms the national interest of Kenya, must be at the centre of every action and engagement.

"Patriotism is putting the interest of the nation before tribe, clan or self. Integrity, in its highest form, is patriotism in action. It is believing in ourselves. It is refusing to betray Kenya," he said.

He regretted that the country faces a serious integrity deficit.

"It begins early in our homes, in our schools, where seemingly harmless dishonesty later matures into grand corruption," he said.

The President noted that corruption is not merely theft of money; it is the theft of hope, opportunity, and destiny, saying it is compounded by negativity, division, erosion of shared values, and ethnic political mobilisation.

"Hate, division, corruption, and tribalism tear at the very social fabric of our Republic," President Ruto said.

"We must rebuild a strong value system. We must defend our national unity. We must raise our children in honesty, responsibility, and love for country," he said.

He explained that economic freedom requires three enablers, citing strategic human capital development, peace, stability and security, and national interest and integrity.

"With these, our national priorities become achievable, our investments become productive, and our vision of a prosperous, sovereign Kenya becomes not only possible, but also inevitable," he said.

Pointing out that the country’s founding fathers defeated colonial domination, President Ruto said the onus now is on the current generation, and particularly his administration, to achieve economic freedom.

"A freedom where effort is rewarded, where opportunity is shared, where dignity is guaranteed, where every citizen matters and where no Kenyan is left behind," he said.

The Ghanaian President,  who was the chief guest at the Jamhuri Day celebrations, emphasised the need for African countries to add value to their exports.

"To claim a fair share of our resources, we must ensure we add value to all our exports," he said.

He called for increased trade among African States, saying there is a huge market for their products.

President Mahama praised the role Kenya has played in the restoration of peace and stability in Haiti.

Prof Kindiki, Burundi Vice-President Bazombanza, Uganda Prime Minister Nabbanja, and Nairobi Governor Johnson Sakaja also spoke at the event.