The Registrar of Companies has announced plans to dissolve several firms, with Apeiro Kenya Technologies Limited—linked to Mwende Gatabaki, wife of President William Ruto’s economic advisor, David Ndii—attracting particular attention. According to a gazette notice dated October 18, Apeiro is set to be struck off the company register barely four months after its incorporation on July 5, 2024.
This announcement has sparked concerns due to Apeiro’s involvement in significant government projects, notably the rollout of Kenya’s Social Health Insurance Fund (SHIF). The company’s association with the controversial Adani Group and its quick rise to prominence adds to the intrigue. It was part of a consortium that won a Sh104 billion contract for the implementation of Universal Health Coverage (UHC) in Kenya through SHIF, where Apeiro emerged as the largest shareholder with a 59.5% stake. Other partners in the consortium included Safaricom and Konvergenz Network Solutions.
Apeiro’s rapid dissolution raises questions about the company’s legitimacy and purpose. Was it specifically created to secure this high-profile deal, only to be shut down once the contract was awarded? Its connection to high-ranking officials and a brief operational period has led to speculation that it might be part of a larger pattern where politically connected businesses are set up to benefit from lucrative state contracts.
The Companies Act 2015 outlines various circumstances for dissolving a company, such as inactivity or liquidation. If Apeiro is dissolved, this could have far-reaching implications for the consortium’s deal with SHIF, as the company holds a majority stake in the project. Additionally, it would further fuel public skepticism about Kenya’s tendering processes, often seen as favoring politically connected entities over transparency and fairness.
As the three-month window for objections to the dissolution closes, many are left wondering whether Apeiro was a legitimate business or merely a conduit for questionable dealings tied to state contracts.
