A State agency has sought to join a case filed by coffee brokerage firms pushing for unrestricted access at the Nairobi Coffee Exchange auction floor after obtaining licence from the Capital Markets Authority (CMA).
In the application, Agriculture and Food Authority (AFA) says it is in the interest of justice and fairness to coffee farmers and the industry for it to be allowed to join the case.
A State agency has sought to join a case filed by coffee brokerage firms pushing for unrestricted access at the Nairobi Coffee Exchange auction floor after obtaining licence from the Capital Markets Authority (CMA).
In the application, Agriculture and Food Authority (AFA) says it is in the interest of justice and fairness to coffee farmers and the industry for it to be allowed to join the case.
Several marketing agencies including United Eastern Kenya Coffee Marketing Company Ltd, Murang’a County Coffee Dealers Company Ltd, Kipkelion Brokerage Company Ltd, Mount Elgon Coffee Marketing Agency Ltd and National Coffee Cooperative Union, want the court to compel the exchange to issue lots, ranges and brokers’ codes to enable them participate in the auction.
In a case to be heard on January 26, the brokerage firms argue the NCE has failed and refused to recognise its licences and instead permitted trading access to coffee marketers that do not possess licenses from the CMA.
They also want the court to restrain Agriculture CS Peter Munya from interfering with the exchange in compliance with the Crops Regulations and CMA regulations.
The government says the brokers are owned by cooperatives, which are not financially stable and lack proper leadership, making them unsuitable to trade.
“The issues which we intend to raise cannot be adequately canvassed by any of the parties before court due to their limited exposure to, and understanding of, the factual intricacies of coffee marketing and sale in the country,” AFA says.
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