Billionaire SK Macharia Announces Closure of Company Operations and Termination of Employees: Why he is Trending

Written by on 11 June 2024

NAIROBI, Kenya, June 11- Directline Assurance has announced it is shutting down and ceasing operations.

In a Monday statement, Royal Credit Limited Chairperson SK Macharia revealed that all employee contracts at the insurance company are being terminated.

Macharia also announced the dissolution of Directline’s Board of Directors.

“The board of directors of Directline has been dissolved and all assets have been taken over by Royal Credit Ltd. All employees have been dismissed, and Directline will no longer provide insurance services,” Macharia stated.

Directline entered the Kenyan market in November 2005 as a motor vehicle insurance provider, specifically covering Public Service Vehicles (PSV).

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