Value of unclaimed financial assets rose to Sh4.3 trillion in 2024 - Survey
Business
By
Esther Nyambura
| May 06, 2025
The total value of unclaimed financial assets received in 2024 amounted to Sh4.3 trillion, up from Sh4.2 trillion in 2023, a report by the Kenya National Bureau of Statistics shows.
According to the 2025 Economic Survey, the banking sector accounted for the largest share, 77.4 percent of the total, valued at Sh3.3 billion.
The insurance sector, on the other hand, accounted for Sh17 million, while listed companies and SACCOs accounted for Sh85.9 million and Sh21.2 million, respectively.
The information and communication sector contributed 18.2 percent.
The number of claimants of unclaimed financial assets grew by 15.4 percent to 7.4 million people.
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However, the total value of assets reunified to claimants declined from Sh467.0 million in 2023 to Sh432.5 billion in 2024.
Tourism Sector
The report also showed that international visitor arrivals rose by 14.7 percent to 2.4 million.
According to the report, "The improvement is mainly attributed to strategic interventions adopted during the year."
Additionally, the number of accredited hotels stood at 904, comprising 289 gold-rated, 317 silver-rated, and 298 bronze-rated establishments.
The number of international conferences increased by 2.3 percent to 999 in 2024, while local conferences grew by 4.7 percent. This growth was largely supported by increased visitor arrivals, the hosting of high-profile meetings, and an improved domestic market.
Education Sector
The total number of basic learning institutions rose by 38.3 percent in 2024, following the inclusion of junior schools, which accounted for 24.7 percent of the total.
TVET institutions grew by 6.9 percent, partly due to an increase in the number of accredited vocational training centres.
Enrolment in pre-primary schools rose to 2.9 million in 2024, while primary and junior school enrolment grew by 3.2 percent to 10.7 million.
Furthermore, "The number of learners who registered for Grade 6 KPSEA assessment in 2024 increased by 2.5 per cent from 1.2 million in 2023, while the number of learners who sat for the assessment grew to 1.3 million. The total number of registered KCSE candidates grew by 6.9 per cent to 965,172 during the review period."
Agriculture, Forestry and Fishing sector
The Agriculture, Forestry, and Fishing sector expanded by 4.6 percent in 2024, compared to 6.6 percent in 2023.
According to KNBS, this growth was largely a result of varied weather patterns, with above-average long rains and below-average short rains, leading to mixed crop performance.
Production of maize, potatoes, and millet declined, while beans and sorghum increased. Maize production contracted by 6.1 percent to 44.7 million bags, and potato production declined from 2.3 million tonnes to 2.2 million tonnes in 2024.
On the other hand, bean production rose from 9.6 million bags in 2023 to 10 million bags in 2024.
According to the report, Kenya's economy is projected to remain resilient and stable in 2025.
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