Amaco Insurance, a company associated with the Deputy President William Ruto has denied reports that it has applied for bankruptcy.
Earlier today, reports indicated that the company is in the verge of collapsing and that it had filed for Bankruptcy through one Beth Kahara and six others and was mentioned on November 7. However, the company said the reports were false.
“We would like to assure our customers and the general public that we have not filed for bankruptcy proceedings contrary to an article circulating on social media. We’ve not been served with any notice or court proceedings on the same.We are addressing the same via the rightful channels,” said Amaco in a statement.
A notice published in the December 27 Kenya Gazette had asked any creditor or contributory of Africa Merchants Assurance Company (Amaco Insurance) to appear for the hearing slated for January 30.
The insurance firm has been dogged by controversies over tenders with the Nairobi County government. In November the firm defended itself from any wrongdoing on its Sh. 87 million tender with the Nairobi County government.