CMA licenses sixth coffee broker

NAIROBI, Kenya May 9-The Capital Markets Authority (CMA) has issued a license to the Embu Coffee Farmers Marketing Agency to operate as a coffee broker at the Nairobi Coffee Exchange.

The move is in line with the Capital Markets (Coffee Exchange) Regulations, 2020.

The newly licensed entity becomes the sixth coffee broker to be licensed by the CMA after Kipkelion Brokerage Company Limited, Murang’a County Coffee Dealers Company, Mt. Elgon Coffee Marketing Agency Limited, Meru County Coffee Marketing Agency Ltd and United Eastern Kenya Coffee Marketing Company Limited.

“The Authority continues to engage relevant stakeholders in the coffee sub-sector to ensure that the momentum of the reform agenda is sustained and gains traction towards full implementation of the Coffee Exchange Regulations. This is expected to ensure the marketing and trading mechanism at the Coffee Exchange promotes fair trade, is transparent and enhances price discovery, ultimately benefitting the coffee farmers,” noted CMA Chief Executive Wyckliffe Shamiah.

The Authority regulates the structured spot commodity markets in Kenya and in particular, the coffee commodity market according to Section 11(3) of the Capital Markets Act.