The Capital Markets Authority (CMA) has issued the first set of licenses 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) with effect from July 1,2021. Elgon Coffee Marketing Agency Limited and United Eastern Kenya Coffee Marketing Company Limited have been granted conditional licences. They are expected to come into full compliance with the requirements of the Coffee Exchange Regulations within the next three months. The Coffee Exchange Regulations together with the Crops Coffee General Regulations, 2019 envisage that the NCE and coffee brokers were to be licensed and supervised by the CMA with effect from 1 July 2020.

Source: The Star June 29, 2021 00:56 UTC