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Latest Coffee Exchange News
Jan 31, 2023
Capital Business By NAIROBI, Kenya, Jan 31 – The Capital Markets Authority (CMA) has licensed four more coffee brokers in an effort to deepen coffee sub-sector reforms. Kinya Coffee Marketing Agency Limited has been granted a full license while Kiambu Coffee Marketing Company Limited, Bungoma Union Marketing Agency Limited and Meru South Coffee Marketing Company Limited have been granted in-principle approved licenses for six months. The coffee brokers were licensed under the Capital Markets (Coffee Exchange) Regulations, 2020. This brings the number of coffee brokers so far licensed by CMA to ten. Other coffee brokers holding valid licenses earlier issued by CMA are; United Eastern Kenya Coffee Marketing Company; Meru County Coffee Marketing Agency Limited; Kipkelion Brokerage Company Limited; Mt. Elgon Coffee Marketing Agency; Murang’a County Coffee Dealers Limited; and Embu Coffee Farmers Marketing Agency Limited. These developments come on the back of extension of the in-principle approval granted by CMA to the Nairobi Coffee Exchange (NCE) to continue operating as a coffee exchange from December 31 2022 to April 30, 2023 to give room for transition and progression towards full regulatory compliance with the Capital Markets (Coffee Exchange) Regulations, 2020. ”The momentum of the reform agenda needs to be sustained to ensure 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 Chief Executive Officer, Wyckliffe Shamiah. The NCE is expected to immediately admit entities holding valid coffee broker licenses issued by CMA to the trading floor. The Agriculture and Food Authority also withdrew the June 2022 amendments to the Crops (Coffee) (General) Regulations, 2019 hence harmonization with the Capital Markets (Coffee Exchange) Regulations, 2020 thus the current positive outlook for coffee subsector reforms. Advertisement. Scroll to continue reading. The Capital Markets Act was reviewed in 2016 to expressly provide 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.
Coffee Exchange Frequently Asked Questions (FAQ)
When was Coffee Exchange founded?
Coffee Exchange was founded in 2018.
Where is Coffee Exchange's headquarters?
Coffee Exchange's headquarters is located at Hero Center, Level 1, Building 3, West Entrance, Shanghai.
What is Coffee Exchange's latest funding round?
Coffee Exchange's latest funding round is Seed - II.
How much did Coffee Exchange raise?
Coffee Exchange raised a total of $510K.
Who are the investors of Coffee Exchange?
Investors of Coffee Exchange include SOSV, Chinaccelerator and Artesian VC.
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