Nairobi, July 6 -- The fee payable to external fund managers for managing assets under the planned Sovereign Wealth Fund (SWF) has been capped at two percent, in a bid to ensure prudent utilisation of funds.

The National Assembly's Finance and National Planning committee has also amended the Third Schedule of the Sovereign Wealth Fund Bill, 2026 to include a requirement for the disclosure of details of all fees paid to investment fund managers and any other service providers to safeguard the Fund.

"The annual management fee payable to an investment fund manager shall not exceed two percent of the investment in the qualifying instrument and shall be specified in the instrument of appointment," Kuria Kimani, who chairs the committee, said...