The Treasury has moved to tackle the growing pile of unclaimed financial assets in Kenya, now valued at Sh57 billion, by setting up a Technical Working Group to develop a national policy for managing dormant funds.
The initiative aims to streamline the identification, recovery, and return of unclaimed assets, including government securities, shares, safe deposit boxes, and other dormant financial resources.
Treasury Cabinet Secretary Chris Kiptoo launched the Technical Working Group at the National Treasury on Tuesday, describing it as the beginning of a coordinated effort across multiple agencies to improve oversight and ensure that unclaimed funds are reunited with their rightful owners.
“The Unclaimed Financial Assets Authority currently holds Sh57 billion in investments in Government Securities at the Central Bank of Kenya, as well as other unclaimed financial assets, including shares held by various institutions, safe deposit boxes, and other related assets,” Kiptoo said.
He said the group’s work will strengthen the management of unclaimed financial assets, making it easier to identify and reunite dormant funds with their beneficiaries.
Kiptoo added that the policy, once finalized, will promote compliance and transparency, modernize recovery processes through digital solutions, enhance coordination among institutions, close legal and regulatory gaps, and unlock dormant funds for the benefit of Kenyans.
Officials have described the formation of the Technical Working Group as a key step toward protecting citizen wealth and improving governance in institutions responsible for managing financial assets.
The group is expected to provide a structured framework to oversee dormant funds, improve transparency, and ensure that unclaimed assets are efficiently returned to those entitled to them.
The Treasury’s move comes as unclaimed assets, particularly investments in government securities, continue to accumulate, highlighting the need for stronger regulation and a formal national policy to manage these resources.
