Embu Coffee Farmers receive license to broker coffee in Kenya
Embu Coffee Farmers Marketing Agency will henceforth operate as a fully licensed Coffee broker in Kenya
This is after the Capital Markets Authority (CMA) granted a full operational license to the agency to broker the commodity at the Nairobi Coffee Exchange (NCE).
The license is to ensure transparency and enhance price discovery that will ultimately benefit farmers who will receive coffee sale proceeds efficiently.
“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,” said CMA boss Wyckliffe Shamiah.
It now brings to six the number of coffee marketers that have fully been licensed to trade under the new regulations at the NCE.
The other five include 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.
CMA 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.