The Capital Markets Authority (CMA) and Limuru Tea are tussling over the corporate governance structure of the agricultural company with the regulator insisting that the listed firm falls short of desired standards.
CMA in a Corporate Governance Assessment Report on Limuru for the year ended December 2021, questioned the structure of the company’s board, falling short of accusing it of being captured by its majority shareholder, Unilever Tea, and being unfair to minority shareholders.
