The Unclaimed Financial Assets Authority (UFAA) is proposing changes to help recover Ksh30.5 billion in unclaimed dividends held by saccos and Nairobi Securities Exchange-listed firms.
A draft Bill seeks to extend the period before shares and dividends are classified as abandoned from three to five years, giving institutions more time to trace owners.
UFAA also wants to replace current penalties for non-remittance with a simpler charge equivalent to 25% of unremitted assets, arguing the existing regime discourages compliance.
As of June 2026, listed firms and saccos held over Ksh25 billion in unclaimed dividends. UFAA currently holds assets worth Ksh126 billion but has reunited only Ksh3.12 billion with owners.
