Why did the British East Africa Company struggle to develop the region that became Kenya?

The British East Africa Company struggled to develop the region that became Kenya primarily due to a lack of sufficient financial resources for large-scale development.12

Furthermore, the company’s involvement in the administration of territories in what is now Uganda—specifically its engagement with the kingdoms of Buganda and Bunyoro—resulted in significant debt. This financial strain forced the company to limit its activities to regions closer to the coast. These difficulties were ultimately resolved in 1895 when the British government paid the company £250,000 to surrender its charter, leading to the establishment of the East Africa Protectorate.123