Tag Archives: withholding

20 companies, including CIC Insurance, Equity Bank, and several universities, have been penalised a total of Sh2.2 billion for failing to hand over unclaimed financial assets to the Unclaimed Financial Assets Authority (UFAA), Kenya media reports. The fines follow a detailed audit by Kenya’s Auditor-General, which revealed that these firms withheld dividends, insurance payments, dormant savings, and other idle funds …

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