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Revealed: The waning value of directors in corporate Kenya
A boardroom. Kenya has also been found to have a unique boardroom character that operates in an axis of two extremes. Photo/FILE
Kenyan firms are losing billions of shillings in the pursuit of wrong strategies, massive revenue leakages and poor risk assessment by boards of directors, a new report on corporate governance in East Africa indicates.
Boardrooms of most companies are full of ineffective and less knowledgeable directors who are either unwilling or unable to objectively evaluate management decisions, leaving businesses to blindly walk into risky environments, the report by consultancy firm KPMG says.
