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. 27.3 billion from holders into the Trust Fund Account including FOREX in various denominations. Reports have been made for 1.2 billion units of shares.
The Authority has so far received claims amounting to Kshs. 1.93 billion from 28,320 claimants.
Unclaimed Financial Assets Regulations, 2016, formalizes processes relating to management of unclaimed financial assets.
Status of the trust fund as at 31st December 2022
Asset type | Amount KShs. | |
CASH | Cash remitted | 27,460,693,730.61 |
Other FOREX reported |
| |
USD | Volume (USD6,912,253.60) | |
Estimated value (Kshs.) | 855,696,804* | |
Total | 27,316,390,534* | |
SHARES | Volume (1,203,264,028) | |
Estimated value (Kshs.) | 30,173,231,406** | |
UNIT TRUST FUND | Volume (9,079,391.03) | |
Estimated value (Kshs.) |
| |
SAFE DEPOSITS | Volume | 3,661 units |
Total estimated Fund value | 57,489,621,940** | |
NB: * denotes estimated value at prevailing market rate.
** denotes estimated Fund Value for assets remitted and reported.
The Unclaimed Financial Assets Authority (UFAA) is an Authority created under the Unclaimed Financial Assets Act, No 40 of 2011 to administer unclaimed financial assets.
About UFAA
Quick Links
Get In Touch
Pacis Centre, 2nd Floor, Slip Road, Off Waiyaki Way, Westlands, Nairobi