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Trust Fund

Status of the Unclaimed Assets Trust Fund

The Unclaimed Assets Trust Fund was created under Section 44 of the Unclaimed Financial Assets Act, No. 40 of 2011. It is vested in, and operated and managed by the Authority. 

The Fund receive remittances from holders all moneys that become or are deemed to be unclaimed assets and other payments required by the Act or by any other written law to be paid into the Fund.

Payments are also made out of the Fund to rightful owners of unclaimed assets once identified.

The Authority has received remittances amounting to KShs. 13.1 billion from holders into the Trust Fund Account including FOREX in various denominations. Reports have been made for 564 million units of shares.

The Authority has so far received claims amounting to KShs. 421.2 million and 1,227,585 units of shares from 6,667 claimants. Out of these, claims amounting to 166.9 million and 908,107 units of shares have been paid to 2,125 claimants.

Unclaimed Financial Assets Regulations, 2016 formalizes processes relating to management of unclaimed financial assets.


Status of the trust fund as at 31 March 2019

Asset type   Amount KShs.                        
CASH Cash remitted 13,489,576,169.30
FOREX reported 65,192,442.25*
Total 13,554,768,611.55
 
UNIT TRUST Volume 8,151,824.26 units
  Estimated value (Kshs.)              18,060,061.61
 
SHARES Volume 564,017,982 units
Estimated value (Kshs.) 25,756,988,673.64*
     
Total estimated Fund value                                 
39,329,817,346.80 **

And 1,454 Safe deposit boxes

NB: * denotes estimated value at prevailing market rate.
       ** denotes estimated Fund Value for assets remitted and reported.

 

Contact Us

Unclaimed Financial Assets Authority,
Pacis Centre, 2nd Floor, Slip Road, Off Waiyaki Way, Westlands, Nairobi.
P.O Box 28235-00200, Nairobi, Kenya.
Phone: 020 4023000, 0706866984, 0736559152
Email: info@ufaa.go.ke

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