UFAA UNVEILS FIVE-YEAR STRATEGIC PLAN.

BY NJOKI KARANJA. 

The Unclaimed Financial Asset Authority (UFAA) has today launched its Third Generation Strategic Plan 2023-2028 that will guide the operations of the organization for the next five years.

The Strategic Plan 2023-2028 is aligned to the fourth Medium Term Plan (MTP IV), Sustainable Development Goals, the Kenya Vision 2030 and Government’s Bottom- Up Economic Transformation Agenda (BETA).


Current and former members of the Board of the Unclaimed Financial Assets Authority (UFAA), joined by the Director of Pensions at the National Treasury, Alfred M. Kagika (seventh from left), display copies of the UFAA Strategic Plan 2023-2028.


Speaking during the official launch, the Principal Secretary the National Treasury and economic planning Dr Chris Kiptoo who was ably represented by the director pensions, Alfred Kagika said the Unclaimed Financial Assets management has been recognized in the fourth Medium Term Plan as a key enabler of financial inclusion under the Financial Services Sector plan.


While citing that it previously took 60–70 days to make payments, the CEO stressed that the organisation aims to reduce the duration it takes to pay people their money, as UFAA is currently working on a 30-day payment scheme for the original owners and a 90-day payment scheme for deceased individuals.


“A total of Kshs 62.34 billion of unclaimed financial assets have been received from holders – comprising of 1.7 billion units of shares and cash – out of which over 29,070 claimants have been reunified a total sum of Kshs 2.03 billion,” he said during the launch of the strategic plan at Radison blue hotel.


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