Connect with us

Hi, what are you looking for?

Cyprian Is Nyakundi


Introducing Cartel firm Zamara Risk and Insurance Brokers

James Olubayi, Owner of Zamara Risk and Insurance Brokers and many others

Zamara Risk and Insurance Brokers is owned by one James Olubayi, a man who has severally been described as a shadowy billionaire with questionable business dealings.

Mr Olubayi also doubles as the man calling the shots at Nigerian lender UBA Bank. He sits on the board as Chairman.

In the deep murky world of wheeler-dealing, in the insurance industry, Olubayi sits at the top.

A predator who fronts his firm, Zamara with hyena-like industriousness and ruthlessness that cares neither about law nor civility.

In April 2019, the Kenya Pipeline Company (KPC) invited firms to bid for the provision of insurance brokerage services for 3 years.

READ: UBA Bank Chairman James Olubayi Exposed As A White-Collar Criminal

Olubayi arm-twisted KPC management, which has widely been exposed as corrupt, to shortlist some few firms including his, Zamara, for the Sh200 million tender.

The billionaire thief Olubayi colluded with KPC managers to raise the threshold for turnover for bidding firms to Sh500 million in order to lock others out.

“KPC is highly infested with corruption and unfair market competitive rules imposed to lockout competent firms”, an insider said

It is a scandal in the offing. It is a given that Zamara or another form that Olubayi controls gets awarded.

READ: Fraudulent: Looming Corruption At Kenya Pipeline Company Insurance Tender

Many shadowy firms

The insurance broker is very powerful in that industry such that he has pocketed the Retirement Benefits Authority (RBA)

Olubayi owns many firms, most of which evade taxes.

His friends know him as a wheeler-dealer in the insurance industry and were at one time regarded as the head of the Kenyan insurance cartel that has been swindling billions of taxpayers money.

Olubayi controls Pioneer Insurance through his brother who works there.

Olubayi’s shadow control has also infiltrated NHIF where the national health insurer plays to his tune.

READ: Unearthed: Sh6.3 billion Scandal at NHIF

Zamara is said to have been in a tight financial position, a debt to the tune of Sh125 million when the KPC deal mentioned above was hatched.

Would you like to get published on this Popular Blog? You can now email Cyprian Nyakundi any breaking news, Exposes, story ideas, human interest articles or interesting videos on: [email protected] Videos and pictures can be sent to +254 710 280 973 on WhatsApp, Signal and Telegram.



Click to comment


You May Also Like


*Editor’s Note: This open letter to Safaricom has been published as received. No redactions have taken place to avoid legal issues pending a court...


  These pictures you are about to view calls to heart the need to be extremely careful about what you do in the  secret...


This is an intervention for Victoria Rubadiri so as to help her revert back to factory settings. We notice your slow drift away into...


Caption : Edwin Kigen Who was Murdered in Madaraka Estate. We demand for answers from Boinnet ! Another young man may have been brutally assaulted and...

Copyright © 2020 Cyprian Is Nyakundi.