Business

Capital Markets Authority grants licences to five coffee brokers

Capital Markets Authority grants licences to five coffee brokers

The Capital Markets Authority (CMA) has issued the first set of licences to five coffee brokers in line with the Capital Markets (Coffee Exchange) Regulations, 2020. The licenses will allow the brokers to carry out the role of coffee brokerage services at the Nairobi Coffee Exchange (NCE) from July 1, 2021.

Meru County Coffee Marketing Agency Ltd has been granted a full coffee broker licence while Kipkelion Brokerage Company Ltd, Murang’a County Coffee Dealers Company, Mt Elgon Coffee Marketing Agency and United Eastern Kenya Coffee Marketing Company have been granted conditional licences.

They are expected to fully comply with the requirements of the Coffee Exchange Regulations within three months. CMA Chief Executive Wyckliffe Shamiah said the regulator supports reforms in the coffee sub-sector and is ready to execute its mandate.

"These conditional licenses are our commitment to ensuring that the trading of coffee continues at the NCE without disruption even beyond the June 30, 2021 deadline," he said.