PROGRESS

CMA issues full and provisional licenses to coffee brokers

The authority is mandated to regulate the structured spot commodity markets in Kenya

In Summary
  • Two coffee brokers namely, Kipkelion Brokerage Company Limited and Murang’a County Coffee Dealers Company have been issued full licenses.
  • The processes are in line with the Capital Markets (Coffee Exchange) Regulations, 2020.
Samples of coffee berries.
Samples of coffee berries.
Image: DOUGLAS OKIDDY

The Capital Markets Authority has issued two full licenses and extended two provisional licenses granted to coffee brokers by a further six months.

Kipkelion Brokerage Company Limited and Murang’a County Coffee Dealers Company have been issued full licenses.

Further, Mt. Elgon Coffee Marketing Agency Limited and United Eastern Kenya Coffee Marketing Company Limited had their provisional licenses extended by six months to April 30 2022 to give them more time to comply.

The processes are in line with the Capital Markets (Coffee Exchange) Regulations, 2020.

“The Authority continues to work with all stakeholders in the coffee sub-sector to ensure that various players in the value chain are brought into full compliance with the regulations,” said CMA Chief Executive Wyckliffe Shamiah.

Shamiah said this would ensure the full benefits of the reform agenda are realised.

The Authority is mandated to regulate the structured spot commodity markets in Kenya.

The Coffee Exchange Regulations were gazetted by the Cabinet Secretary of the National Treasury and Planning on April 3 2020.

The Coffee Exchange Regulations together with the Crops Coffee General Regulations, 2019 envisage that the NCE and coffee brokers are to be licensed and supervised by the CMA.