The Kenya Kwanza government’s draft legislation to create the country’s first sovereign wealth fund (SWF) is drawing criticism from financial experts who question its economic rationale, governance structure and vague operational rules.
This has attracted scrutiny of the President William Ruto’s government’s ambition to manage future resource revenues.
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`;
} else {
teaserEl.innerHTML = “”;
}
activeEl.innerHTML = “”;
paywallEl.style.display = “block”;
} else if (now >= saleStart && now <= saleEnd) {
paywallEl.style.display = “none”;
var diffToEnd = saleEnd – now;
var totalSeconds = Math.floor(diffToEnd / 1000);
var days = Math.floor(totalSeconds / (24 * 3600));
var hours = Math.floor((totalSeconds % (24 * 3600)) / 3600);
var minutes = Math.floor((totalSeconds % 3600) / 60);
var seconds = totalSeconds % 60;
activeEl.innerHTML = `
Offer ends in…
${days}Days
${String(hours).padStart(2,’0′)}Hours
${String(minutes).padStart(2,’0′)}Minutes
${String(seconds).padStart(2,’0′)}Seconds
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`;
} else {
teaserEl.innerHTML = “”;
activeEl.innerHTML = “”;
paywallEl.style.display = “block”;
}
}
function formatTime(ms) {
let totalSeconds = Math.floor(ms / 1000);
const days = Math.floor(totalSeconds / (3600 * 24));
totalSeconds %= 3600 * 24;
const hours = Math.floor(totalSeconds / 3600);
totalSeconds %= 3600;
const minutes = Math.floor(totalSeconds / 60);
const seconds = totalSeconds % 60;
return `${days}d ${hours}h ${minutes}m ${seconds}s`;
}
updateFlashSale();
setInterval(updateFlashSale, 1000);
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The Kenya Kwanza government’s draft legislation to create the country’s first sovereign wealth fund (SWF) is drawing criticism from financial experts who question its economic rationale, governance structure and vague operational rules.
Follow The Standard
channel
on WhatsApp
By Brian Ngugi