Because of tribalism at the management levels.
You will find managers who aren’t qualified for the positions and lack talent simply existing because they are related to the Kenyan director, GM or even board members.
These talentless people don’t know shit about expanding a business whilst minimizing costs. Debts accrue as they pocket the salos waiting to jump ship when it suits. Back when I was a contractor, I used to love working at startups where the IT/Software division was headed by a dimwit - someone with a diploma who just got the job as a connection - read nepotism. Such, I would charge them extremely high prices to fix problems as a result of their incompetence. Just negotiate a one to 2-year contract and enjoy the ride.