Naema Celestine 
By Derrick Wanjala
The Unclaimed Financial Assets Authority (UFAA) is holding over 60 billion shillings in unclaimed financial assets, according to John Mwangi, the CEO of UFAA. This includes 31 billion shillings in cash and 1.7 billion shares valued at 30 billion shillings.
Mwangi revealed these staggering figures during a press conference held at the UFAA headquarters in Nairobi. He highlighted the urgency of addressing the issue of unclaimed financial assets in the country. “This is a significant amount of money that could have a considerable impact on the lives of many Kenyans if reclaimed,” he said.
The unclaimed assets, which include cash, shares, and dividends, have accumulated over the years due to various reasons. Some of these reasons include the death of the asset owners, people moving without updating their financial records, and general unawareness of these assets. Mwangi noted that many people are unaware that they might be entitled to these funds.
In an effort to tackle this issue, UFAA has launched a nationwide sensitization campaign. The campaign aims to inform and educate Kenyans about the existence of these unclaimed financial assets and the process of reclaiming them. “We want to ensure that every Kenyan knows about the possibility of unclaimed assets and understands how to go about reclaiming them,” Mwangi stated.
The sensitization campaign will utilize various channels to reach a broad audience. This includes advertisements on radio, television, and social media platforms. Additionally, UFAA plans to hold community outreach programs in different regions of the country to engage directly with the public.
“We believe that a multi-faceted approach is essential in reaching as many people as possible. By using different media and direct engagement, we can spread the message more effectively,” Mwangi explained. He also mentioned that the UFAA website has been updated to make it easier for individuals to search for and claim their assets.
Mwangi emphasized the importance of family members checking for unclaimed assets left by deceased relatives. “In many cases, families are not aware of the financial assets left behind by their loved ones. It is crucial for them to check and claim these assets to avoid losing them permanently.”
The process of reclaiming assets involves verifying one’s identity and proving the relationship to the original asset owner. Mwangi assured the public that UFAA has streamlined this process to make it as straightforward as possible. “We have simplified the procedures to ensure that people can claim their assets without unnecessary delays.”
Since its establishment, UFAA has been committed to reuniting Kenyans with their unclaimed financial assets. The authority has successfully processed numerous claims, returning billions of shillings to rightful owners. However, the large amount of unclaimed assets indicates that much work remains to be done.
Mwangi also called on financial institutions to cooperate with UFAA in identifying and reporting unclaimed assets. “Financial institutions play a critical role in this process. Their cooperation is vital in ensuring that unclaimed assets are reported and eventually returned to their rightful owners.”
The CEO encouraged Kenyans to regularly check for unclaimed assets and keep their financial records up to date. “It is essential for individuals to maintain accurate financial records and update them whenever necessary. This helps prevent assets from becoming unclaimed.”
To facilitate the reclamation process, UFAA has established help desks in various counties. These help desks provide assistance and guidance to individuals seeking to reclaim their assets. “Our help desks are staffed with trained personnel who are ready to assist the public in navigating the reclamation process,” Mwangi said.
The UFAA campaign has received support from various stakeholders, including government agencies and non-governmental organizations. These stakeholders have pledged to work together with UFAA to ensure the success of the campaign. “We are grateful for the support we have received from our partners. Their collaboration is crucial in achieving our goal of reuniting Kenyans with their unclaimed assets.”
Mwangi also addressed concerns about the security of unclaimed assets. He assured the public that UFAA has implemented stringent measures to safeguard these assets. “The security of unclaimed assets is our top priority. We have put in place robust systems to protect these assets and ensure they are not misappropriated.”
The CEO concluded by urging Kenyans to take advantage of the sensitization campaign and check for any unclaimed assets they might have. “This campaign is an opportunity for every Kenyan to discover if they have unclaimed assets and take the necessary steps to reclaim them.”
For more information and to check if you have unclaimed assets, visit the UFAA website or contact their offices directly. UFAA is committed to helping Kenyans reclaim what is rightfully theirs and will continue to work tirelessly towards this goal.
