Sh38 Billion in Unclaimed Assets Awaits Kenyans

Sh38 billion in unclaimed assets is yet to be collected from the government by respective beneficiaries, Public Investments and Assets Management PS Cyrell Odede has disclosed.

Odede said the state has so far only issued Sh3 billion out of Sh41 billion recovered by the Unclaimed Financial Assets Authority (UFAA) in the country.

He urged Kenyans to reach out to the Authority to follow up on assets belonging to deceased relatives that remain unclaimed.

"So far, we have given out Sh3 billion to Kenyans. We still have a lot waiting for you. We have collected Sh41 billion in cash and 2 billion shares valued at Sh80 billion," Odede said.

He was speaking to the press shortly after officiating the national launch of UFAA desks at Huduma Centres on Wednesday.

Access to UFAA services is now officially available at all Huduma Centres in the country.

Huduma Kenya on Wednesday launched UFAA services across all 59 Huduma Centres, making it easier for citizens to access unclaimed financial assets. The nationwide rollout was inaugurated at Machakos Huduma Centre.

"The desks have been launched in all the 59 Huduma centres in Kenya. This is because Kenyans have been travelling long distances from their villages to Nairobi to claim what was left by their fathers, mothers and spouses. We encourage the public to come and claim those assets so that they are paid," Odede said. He emphasized that such assets belong to Kenyan citizens, not the government.

The UFAA is a government agency responsible for managing unclaimed financial assets, including dormant bank accounts and other financial instruments.

Its functions include receiving unclaimed assets from financial institutions, safeguarding them, conducting research to locate rightful owners, and returning assets to them.

The authority manages over Sh55 billion in unclaimed assets.

Odede also encouraged disadvantaged groups, including youth, women and people living with disabilities, to apply for government tenders to improve their livelihoods.

"I'm in charge of government assets and also procurement of goods and services all over the country. Those at the bottom of the pyramid should be able to access all services and goods in counties and national government. Let them come out and do business with the government. Do it electronically. Register your business digitally and get tenders," he said.

Public Service PS Dr Jane Imbunya said the desks had been opened in all 59 Huduma Centres.

"This is a milestone and great landmark because many times, we lose our loved ones but don't know what property they had. Unfortunately, some of them die without leaving a will. Today, I'm calling upon all Kenyans who have lost their loved ones and have never known what they possessed. Today marks a new dawn," Imbunya said.

"If you come to the Unclaimed Financial Assets Authority desk in the Huduma Centres, you give the name, and they can search using it or the deceased's national ID number. It's not only searching. They create awareness on what you are owed and guide you on the steps to claim these possessions, helping cushion you against risks and other challenges that come with financial loss after grief."