This archive report was first published on 29 June 2021.
On June 29, 2021, the Capital Markets Authority (CMA) took a significant step in the coffee industry by issuing the first set of licenses to five coffee brokers. This move is in line with the Capital Markets (Coffee Exchange) Regulations, 2020.
The licensed brokers are expected to provide coffee brokerage services at the Nairobi Coffee Exchange (NCE) from July 1, 2021. Among the licensed brokers, 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.
The brokers have been given three months to fully comply with the requirements of the Coffee Exchange Regulations. CMA Chief Executive Wyckliffe Shamiah expressed the regulator's support for reforms in the coffee sub-sector and its readiness 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," Shamiah said.
