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STRATHMORE UNIVERSITY FOUNDATION AND UNCLAIMED FINANCIAL ASSETS AUTHORITY PARTNERSHIP

THE PARTNERSHIP

Strathmore University Foundation has partnered with Unclaimed financial assets authority, for
an innovative campaign in reuniting unclaimed assets for donation, for the provision of
scholarships to deserving and needy students. The campaign a first in Africa, will aim at
reuniting unclaimed assets with rightful owners for donation. UFAA currently holds Kshs 50
Billion in unclaimed assets. In 2021, UFAA targets to reunite Kshs 1Billion, SUF has partnered
with UFAA in a shared value capacity to assist them attain their target in 2021 and into the
future. SUF has sourced for the various stakeholders to make the process seamless. SUF’s role
in the campaign will be:
1. creating awareness of the process.
2. Facilitating the entire process for the asset owner.
The campaign will begin with internal audiences e.g. staff and peak with external audiences so
as to manage the flow of information and also the feedback mechanism. Once set up the
campaign may run into perpetuity since there will always be money going into UFAA.

Additional Information

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.   The primary mandate of the Authority is to receive unclaimed financial assets from the holders of such assets, safeguard and re-unite the assets with their rightful owners. Examples of Unclaimed assets include: 1. Dormant accounts at banks. 2. Unclaimed dividends and interest earned from stocks and shares. 3. Unclaimed utility deposits in books of power and water companies. 4. Unclaimed retirement benefits at insurers and pension administrators. 5. Unclaimed death benefits and annuities from insurance companies. 6. Unclaimed bail and bond money deposited in Courts of Law. 7. Unclaimed deposits and benefits from collapsed institutions. 8. Uncollected prize money e.g. from a lottery.
1. Completed form Original Owner(s) claim form (Form 4A) duly commissioned. 2. Completed Indemnity agreement (Form 5) duly commissioned. 3.An official letter received from the holder confirming remittance of unclaimed financial assets to the Authority. 4.Certified copy of the claimant’s national identity card or passport (Certified by a lawyer). 5.Copy of claimant’s KRA PIN certificate.

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