The majority of listed firms breached the Capital Markets Authority (CMA) rule barring non-executive directors from holding executive or employee positions in related entities during the financial year ended June 2024, pointing to the compliance headache facing companies.
The latest CMA report on the state of corporate governance for Nairobi Securities Exchange (NSE)--listed firms show the aggregate score onboard operations and control dropped to a six-year low of 67.93 percent in the review period from 71.64 percent in the previous period.
