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PRESS RELEASE

 

 CMA issues full and provisional licenses of coffee brokers

 

Nairobi, 03 November 2021…The Capital Markets Authority (CMA) has issued two full licenses and extended two provisional licenses granted to coffee brokers by a further six months in line with the Capital Markets (Coffee Exchange) Regulations, 2020.

Two coffee brokers namely: Kipkelion Brokerage Company Limited and Murang’a County Coffee Dealers Company have been issued full licenses while Mt. Elgon Coffee Marketing Agency Limited and United Eastern Kenya Coffee Marketing Company Limited had their provisional licenses extended by six months to 30 April 2022 to give them more time to come into full compliance.

The CMA Chief Executive Mr. Wyckliffe Shamiah noted, ‘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 Coffee Exchange Regulations to ensure the full benefit of the reform agenda is realized.’’

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 3 April 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.

 

ENDS

 

  

BACKROUND INFORMATION ON THE CAPITAL MARKETS AUTHORITY

The Capital Markets Authority (CMA) was set up in 1989 as a statutory agency under the Capital Markets Act Cap 485A. It is charged with the prime responsibility of both regulating and developing an orderly, fair and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence. CMA also regulates the commodity markets and online forex trading. The regulatory functions of the Authority as provided by the Act and the regulations include; Licensing and supervising all the capital market intermediaries; Ensuring compliance with the legal and regulatory framework by all market participants; Regulating public offers of securities, such as equities and bonds & the issuance of other capital market products such as collective investment schemes; Promoting market development through research on new products and services; Reviewing the legal framework to respond to market dynamics; Promoting investor education and public awareness; and Protecting investors’ interest. For more information, please contact: Antony Mwangi, Manager Corporate Affairs & International Relations on This email address is being protected from spambots. You need JavaScript enabled to view it.

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