The President’s family holds a substantial stake in Amaco through Yegen Farms Limited, where First Lady Rachel Ruto and daughter Charlene Ruto are listed as shareholders, owning 190,000 shares or 15.83 percent of the company as of October 2024.
A dramatic shift is reshaping Kenya’s lucrative matatu insurance market, with Africa Merchant Assurance Company (Amaco) – an insurer with ties to President William Ruto’s family – capturing billions of shillings in business at the expense of media mogul SK Macharia’s Directline Assurance. Insurance Regulatory Authority data reveals that Amaco has more than doubled its […]
The escalating conflict, pitting prominent businessmen Ronald Karauri and Peter Mbugua against each other, threatens to destabilize the fledgling insurer and expose the murky dealings behind its inception.
