UFAA To Use Huduma Centres For Transfer of Ksh28 billion Unclaimed Assets

June 29, 2023

The Unclaimed Financial Assets Authority (UFAA) is seeking to reconnect unclaimed assets worth at least Ksh25 billion with their rightful owners through Huduma Centre outlets nationwide.

The first phase of the reunification drive in partnership with Huduma Kenya targets three counties of Nakuru, Nyeri and Kiambu.

UFAA Chief Executive Officer John Mwangi said the “Claim your ‘Lost and Found’ Cash Karibu Nawe” campaign which is underway in Nakuru County seeks to encourage members of the public to check the status of any unclaimed financial assets registered in UFAA database using the short code *361# or official website.

“We are leveraging on Huduma Kenya infrastructure to reach wananchi at mashinani. This is a great opportunity to fasten the reunification process as Huduma centre will act as the Authority’s points of contact for people enquiring about their ‘lost and found’ assets,” said Mwangi.

Currently, UFAA is holding unclaimed financial assets totaling Ksh27.28 billion in cash and 1.2 billion units of unclaimed shares.

Additionally, the authority has successfully reunited approximately Ksh 2 billion and 39.7 million units of shares with their rightful beneficiaries.

“We are hoping that by the end of this drive, at least three quatres of these monies will have been reunited with rightful owners. It is imperative that these monies are plowed back into the economy,” Mwangi added.

The drive is also aimed at encouraging holding institutions in possession of a financial asset on behalf of an owner such as banks, insurance companies, saccos to submit and surrender unclaimed financial assets in their possession.

“Huduma Kenya’s vision is to see Government services accessible to all citizens. This partnership brings UFAA services closer to mwananchi through one of our channels, the Huduma Mashinani Outreach,” said Benjamin Kai, Huduma Kenya CEO.

Furthermore, UFAA has implemented the Unclaimed Financial Assets Management System (UFAMS), which enables online filing and tracking of claims, as well as automated backend processing.

Don't Miss