The Capital Markets Authority (CMA) has licensed Kirinyaga Slopes Coffee Brokerage Company Limited as a coffee broker, becoming the 14th firm to be cleared for the role by the regulator.
The company’s promoter is the Kirinyaga County Cooperative Union which comprises 14 cooperative societies.
Other licensed coffee brokers are; Meru County Coffee Marketing Agency Limited; Kipkelion Brokerage Company Limited; Murang’a County Coffee Dealers Limited; United Eastern Kenya Coffee Marketing Company Limited; Mt. Elgon Coffee Marketing Agency and Embu Coffee Farmers Marketing Agency Limited.
Others are Kinya Coffee Marketing Agency Limited; Alliance Berries Limited; Bungoma Union Marketing Agency Limited; New Kenya Planters Co-operative Union PLC (New KPCU); KCCE Marketing Agency Limited; Meru South Coffee Marketing Company Limited; and Baringo Kawa Brokerage Company Limited.
“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’ CMA chief executive officer, Wyckliffe Shamiah said on Tuesday.
Kenya’s coffee is much sought after by roasters and blenders and the country sells its coffee to the world market. The international prices are used as a benchmark for the local price at the NCE.
The sector is however limping and requires a revamp as more farmers abandoned the crop for better rewarding ventures such as real estate and avocado farming.
