Investors’ Unclaimed Cash Earns Treasury Sh13 Billion Windfall

By Esther Murigi

The National Treasury has earned more than Sh13 billion in interest and investment returns from billions of shillings in unclaimed cash belonging to investors, companies, and ordinary Kenyans who have failed to reclaim their dormant assets for years.

The funds, managed under the Unclaimed Financial Assets Authority (UFAA), have quietly grown into one of the largest pools of idle money in Kenya’s financial system, reflecting both lost wealth and missed opportunities for thousands of citizens.

According to UFAA’s latest disclosures, the authority has invested over Sh60 billion in government securities since it began operations in 2014, generating cumulative interest income exceeding vfSh13 billion for the Treasury.

UFAA Chief Executive Officer John Mwangi said the authority invests idle funds in secure government instruments such as Treasury bills and bonds, with the returns credited to the Consolidated Fund.

Mwangi said the investments are made prudently to preserve the value of the money while the authority continues tracing the rightful owners. He added that the income generated is remitted to the Treasury as non-tax revenue.

Treasury data shows that the government collected about Sh2.3 billion in 2024/25 from UFAA’s investments, a 17 percent increase compared to the previous year.

As of mid-2025, the authority had taken custody of more than Sh65 billion in unclaimed money, dividends, insurance claims, pensions, and dormant bank accounts.

UFAA records indicate that 45 percent/ of the unclaimed assets come from inactive bank accounts, 30 percent from dividends and shares, and 15 percent from unclaimed insurance benefits. The rest includes deposits, refunds, and wages.

Economist Dr. Faith Kimani of Strathmore University said the growth of the fund highlights both increased compliance and poor financial awareness among Kenyans. Many people don’t know they are entitled to dividends or pension benefits left behind by deceased relatives.

So far, the authority has reunited only about Sh2 billion with rightful owners, just three percent of the total assets under management. Mwangi said the low claim rate is due to a lack of awareness and difficulties in tracing beneficiaries.

To speed up claims, UFAA has launched an online search platform and partnered with Huduma Centers across the country. Kenyans can check for unclaimed assets at www.ufaa.go.ke  or through USSD code *361#.

Investment consultant Peter Waweru said the authority has become a key financier of government borrowing. That’s not necessarily bad. But Kenyans deserve to know where their money is parked and how it’s being used.

The National Treasury, facing high debt repayments and a widening deficit, has quietly benefited from the steady inflow of unclaimed assets. These funds provide a cheap source of financing, unlike public debt, which carries interest costs.

Mwangi maintained that the money belongs to citizens and is available for refund upon verification. Hence, their job is stewardship. They hold the funds in trust and ensure they grow rather than lose value.

For now, the billions in idle cash continue to work for the government rather than for the people, who own them a silent but significant boost to Kenya’s strained public finances.

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The Author is Esther Murigi certified Broadcast Journalist