More Kenyans are starting to embrace the financial benefits of investing in publicly listed companies. However, the increase in shareholding also brings with it a greater demand for listed companies to be properly managed. Unfortunately, in the past few years, many Kenyans have lost confidence in boards of listed companies. In some instances, this has been due to fraud or mismanagement often due to poor governance and management of companies.
In a span of less than five years, high profile scandals and company collapses have led to massive losses and spelt doom for shareholders in Kenya. In some instances, it took far too long for the fraud and malpractices by management to be discovered. This has raised doubts about boards’ effectiveness.
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