NAIROBI, Kenya, Feb 10 – The Unclaimed Financial Assets Authority (UFAA) currently holds Sh57 billion in government securities at the Central Bank of Kenya, alongside other unclaimed assets including institutional shares, safe deposit boxes, and related financial instruments.
In a bid to streamline management and reunification of these assets, the National Treasury on Tuesday inaugurated a Technical Working Group tasked with developing Kenya’s National Policy on Unclaimed Financial Assets.
The policy will aim to modernize the identification and recovery of unclaimed funds, strengthen inter-agency coordination, enhance transparency and compliance, and leverage digital solutions for efficient reunification with rightful owners.
It will also address legal and regulatory gaps while unlocking dormant financial resources to boost economic efficiency.
Officials described the initiative as a major step toward safeguarding citizen wealth, improving institutional governance, and ensuring that unclaimed financial assets are efficiently returned to beneficiaries across the country.
