The Capital Markets Authority (CMA) has licensed Kirinyaga Slopes Coffee Brokerage Company Limited as a coffee broker, in an effort to deepen coffee sub-sector reforms.
The company’s promoter is the Kirinyaga County Cooperative Union which comprises of 14 cooperative societies.
“The momentum of the reform agenda needs to be sustained to ensure full implementation of the Capital Markets (Coffee Exchange) Regulations. This is expected to ensure the marketing and trading mechanism at the Nairobi Coffee Exchange promotes fair trade, is transparent and enhances price discovery, ultimately benefitting the coffee farmers,’’ said CMA Chief Executive Officer, Mr. Wyckliffe Shamiah.
The Capital Markets Act was reviewed in 2016 to expressly provide the CMA the mandate to regulate spot commodity markets including the coffee commodity market in Kenya. CMA regulates the structured spot commodity markets and in particular, the coffee commodity market according to Section 11(3) of the Capital Markets Act.
Kirinyaga Slopes’ new license now brings the number of licensed coffee brokers to 14.
The other licensed coffee brokers include; Meru County Coffee Marketing Agency Limited; Kipkelion Brokerage Company Limited; Murang’a County Coffee Dealers Limited; United Eastern Kenya Coffee Marketing Company Limited; and Mt. Elgon Coffee Marketing Agency.
Kenya’s Coffee Exports Rise 49% between Jan & October 2022 – Kenyan Wallstreet
