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Amaco profits dip 15.4 percent despite business growth
President Ruto’s family owns 190,000 shares or 15.83 percent of Amaco through Yegen Farms Limited, where First Lady Rachel Ruto and daughter Charlene Ruto are listed as shareholders, according to government records as of October 25, 2024.
Africa Merchant Assurance (Amaco), which is partly owned by President William Ruto’s family and associates, has reported a 15.4 percent drop in its net profit for 2025 despite a growth in revenues, which were outpaced by a jump in insurance claims.
Amaco reported a net profit of Sh86.2 million for the year ended December 2025, down from Sh101.9 million posted a year earlier. The insurer’s revenues grew to Sh3.82 billion from Sh3.22 billion, driven largely by increased business from the public service vehicles.
