The Capital Markets Authority (CMA) has issued full coffee brokerage license to three companies allowing them to trade at the Nairobi Coffee Exchange pushing up the total number of fully licensed coffee brokers to 16.
Nandi Coffee Co-operative Union Coffee Brokers Limited, Meru South Coffee Marketing Company Ltd and Minnesota Coffee Marketers Limited have satisfied all requirements of the Capital Markets Act and Capital Markets (Coffee Exchange) Regulations, 2020.
The expansion of the pool of licensed coffee brokers is anticipated to spur the uptake of new commodities products and services and grow market turnover.
“The Authority continues to implement coffee reforms at its level and as a member of the National Task Force on Coffee Sub-Sector Reforms. We see these reforms contributing to the uptake of commodity markets products and services while enhancing the experience of our customers in the coffee value chain,” said CMA CEO Wyckliffe Shamiah.
In addition, the CMA has granted a six-month extension to New Kenya Planters Co-operative Union PLC (NKPCU) to continue operating as a conditionally licensed coffee broker. The extension will lapse in February 2025.