Capital Markets Authority grants licences to five coffee brokers
By Correspondent | June 29th 2021
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.
Prices of juices and water to increase on higher excise duty
- State woos firms to expand special economic zones
- Tullow increases Turkana oil field costs to Sh374b
- Address construction sector challenges, architects urge Nairobi county government
- Kenya at risk of defaulting on loans, warns Central Bank boss
- House hunting apps giving agents a run for their money