The government has launched Unclaimed Financial Assets Authority (UFAA) – Huduma Kenya Partnership with an aim of reuniting unclaimed assets with their rightful owners.
UFAA is an authority created under the Unclaimed Financial Assets Act, No.40 of 2011 to administer unclaimed financial assets.
Speaking during the Launch of UFAA – Huduma Kenya Partnership, Ministry of Public Service, Gender, Senior Citizens Affairs and Special Programmes Cabinet Secretary Margaret Kobia, said the launch is a significant milestone towards sustainability.
Prof Kobia said that the partnership targets to bring services closer to mwananchi and reunify at least 3 billion worth of assets annually in line with the UFAA strategic plan 2018-2023.
“This partnership launch is in line with government policies of enhancing efficiency and effectiveness in public service delivery through the ‘Whole of Government’ approach, leveraging on ICT which holds the promise towards realisation of Vision 2030 and the SDGs,” said the CS.
She noted that currently, UFAA manages a total worth of Sh55 billion of unclaimed financial assets from various holders.
The reunification of these assets, she said, have the potential to impact positively on the micro-economic wellbeing of citizens.
Speaking during the launch, the National Treasury and Planning Cabinet Secretary Ukur Yatani, said UFAA has shown its potential to the realisation of Vision 2030 ideals of the deepening of financial services and products to meet the needs and demands of a wider cross-section of Kenyan businesses and households.
“We acknowledge the tremendous milestones achieved by UFAA since its inception six years ago in receiving and safeguarding of unclaimed financial assets. The Authority’s ability to mop up Sh24 billion in cash and over one billion units of shares in unclaimed assets within such a short time is attestation of its commitment to the call of duty,” said Yatani.
However, Yatani challenged UFAA to go beyond Nairobi County, to reach farmers, nomads and even fishermen in the rural areas and also to remain innovative by staying ahead of the public expectations.
For the public to find their unclaimed financial assets, they are advised to visit www.ufaa.go.ke click ‘find and claim’.
By Catherine Muindi