Summit on unclaimed assets to be held in Nairobi

Over 200 delegates drawn from around the world will this month convene in Nairobi to attend a summit on unclaimed assets.

Unclaimed Property Assets Register K Limited (UPAR) is organising the inaugural meeting to be held at Windsor Golf Hotel and Country Club from 27th to 30. The theme is Reunification for Posterity.
The Summit, which will deliver a wealth of information on unclaimed financial assets, is targeting financial institutions, microfinance institutions, and stockbrokers among other organisations holding unclaimed cash, cheques, interests and wages.

A survey by UPAR found that insurance firms hold 25% of unclaimed funds.  Other major holders of idle assets are pension funds and public listed companies. “Stakeholders will get opportunity to learn and discuss critical issues around governance, management and administration of unclaimed financial assets, paying particular attention to recent and emerging trends and what the future holds for this sector of the economy,” UPAR says in a statement.

Discussions will also focus on the underlying economic opportunities for institutions and individuals. About 200 delegates from across the continent are expected to attend. 

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“In recognition of the interconnectedness of African economies (EAC, SADAC, ECOWAS, COMESA, etc.), UPAR sees value in creating a new platform in the form of an International Summit and a community of practice to provide a unique forum for the private and public sectors to unite and share international best practices on unclaimed financial assets. The key theme for the UPAR African Summit on Unclaimed Financial Assets is “Reunification for Posterity’.”    

Some of the invited speakers include representative from the United States of America, Global Discovery Limited (American National Treasury), WSBI in Brussels, Belgium, Experian (UK), Retirement Benefits Authority (RBA), Kenya Revenue Authority, Central Bank of Kenya, Capital Markets Authority, Insurance Regulatory Authority, Reunification agents as well as a variety of financial services providers and Authorities from the African continent.

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