Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Ruto-linked insurer cedes PSV ground to Karauri, SK Macharia
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.
A vicious market share fight is un-folding in Kenya’s multi-billion shilling public service vehicle (PSV) insurance industry that has seen an insurer linked to President William Ruto cede ground to two firms associated with media mogul Samuel Kamau (SK) Macharia and SportPesa boss Ronald Karauri.
The market share of Africa Merchant Assurance (Amaco), partly owned by President Ruto’s family and his close allies, dropped to 47.49 percent from 54.71 percent in March 2025, latest regulatory data show.
