By Dorothy Musyoka
The National Treasury has inaugurated a Technical Working Group to spearhead the development of Kenya’s National Policy on Unclaimed Financial Assets, marking a major step toward strengthening the management and reunification of dormant financial assets with their rightful owners.
Principal Secretary for the National Treasury, Dr. Chris Kiptoo, presided over the inauguration, underscoring the government’s commitment to improving transparency, accountability, and efficiency in the handling of unclaimed financial assets.
The Unclaimed Financial Assets Authority (UFAA) currently holds approximately KSh 57 billion invested in Government Securities at the Central Bank of Kenya, alongside other unclaimed financial assets such as shares held by various institutions, safe deposit boxes, and related financial instruments.
The newly established Technical Working Group brings together key government agencies and stakeholders in a coordinated inter-agency effort to strengthen the identification, management, and reunification of unclaimed financial assets with their rightful owners and beneficiaries.
Once finalized, the National Policy on Unclaimed Financial Assets is expected to enhance compliance and transparency across institutions, modernize the reunification process through digital solutions, strengthen institutional coordination, and address existing legal and regulatory gaps. The policy will also help unlock dormant financial assets for the benefit of Kenyans and the broader economy.
The initiative forms part of the government’s broader agenda to deepen financial sector governance, protect consumer rights and ensure that unclaimed assets are managed responsibly while facilitating their return to rightful owners.