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.
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