The initials AMACO stand for African Merchant Assurance Company. AMACO is an insurance company that has been in operation in Kenya for over 20 years but recently it has been faced with court battles that directed for its liquidation.
But who owns this company? Well, there have been speculations that the company is owned by current Kenya’s President William Ruto. This information came out in 2019 when the company was sued by over seven petitioners who wanted it to close its doors.
This year, the company has been named by unconfirmed sources that it is set to be the beneficiary in the SHIF fund which has also brought a lot of speculations from Kenyans.