Unclaimed funds, assets rise by Sh2.7b in last three years

Unclaimed Financial Assets Authority (UFAA) CEO John Kihara Mwangi. [David Gichuru, Standard]

The Unclaimed Financial Assets Authority (UFAA) says uncollected funds and assets in the last three years have risen by Sh2.7 billion.

The agency has, consequently, advised Kenyans to seek guidance through its website on how to lodge claims.

After registering on the portal, they’d be directed to Huduma Centres where UFAA officers can assist.

The total value of unclaimed assets in Kenya, as of September 2020, stood at Sh13.3 billion, which was a Sh3.3 billion rise from the Sh10 billion recorded in 2018.

This was revealed on Wednesday, March 30, 2022, when the government rolled out a programme to guide Kenyans on how to access unclaimed assets. The launch was done at the Nairobi GPO Huduma Centre.

Several senior government officials, including Public Service Cabinet Secretary Margaret Kobia and her Treasury counterpart Ukur Yatani attended the event.

The CEO of UFAA, John Mwangi, said claimants can use the USSD code *361# to initiate the claim process.

Some of the assets that go unclaimed include dead people’s mobile money finances, company shares, bank deposits, unacknowledged properties, among others.