Newly licensed coffee brokers locked out of NCE on system glitch
Summary
The five coffee traders the Capital Markets Authority (CMA) licensed will not take part in this week’s auction for lack of infrastructure support.
The brokers were licensed by the CMA last week to start trading directly at the Nairobi Coffee Exchange (NCE) without necessarily going through the marketers as has been the case previously.
Preparations for the next auction normally starts on Thursdays, when traders are required to submit coffee samples to aid in the making of the catalogue to guide the auction.
Monday July 05 2021
By GERALD ANDAE
Capital Markets Authority grants licences to five coffee brokers
NEWS
Young African woman collecting coffee berries from a coffee plant [Courtesy]
The Capital Markets Authority (CMA) has issued the first set of licences 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) from July 1, 2021.
Meru County Coffee Marketing Agency Ltd has been granted a full coffee broker licence while Kipkelion Brokerage Company Ltd, Murang’a County Coffee Dealers Company, Mt Elgon Coffee Marketing Agency and United Eastern Kenya Coffee Marketing Company have been granted conditional licences.
CMA extends coffee licensing deadline, issues five permits businessdailyafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessdailyafrica.com Daily Mail and Mail on Sunday newspapers.
The Capital Markets Authority directs coffee marketers to apply for fresh licences ahead of the July 1 deadline, which the Ministry of Agriculture has dismissed.