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Nairobi Coffee Exchange (NCE) will soon be placed under the supervision of the Capital Markets Authority (CMA) as it transitions to The Coffee Exchange
Nairobi Coffee Exchange (NCE) will soon be placed under the supervision of the Capital Markets Authority (CMA) as it transitions to The Coffee Exchange. Kenya’s coffee reforms agenda, including full implementation of the Capital Markets (Coffee Exchange) Regulations, aims to establish a marketing and trading mechanism at the Nairobi Coffee Exchange that promotes fair, transparent trading activities.
It also seeks to enhance price discovery, while also providing immense benefits to coffee farmers. The CMA Act has since been revised to provide the regulator with the mandate to regulate spot commodity markets including the coffee commodity market in Kenya.
This development puts closure to a long-drawn-out tussle and lack of clarity regarding the mandate of the CMA and the Coffee Directorate as to who between them has the final say on matters regarding the operations of the NCE.
Read Also:
https://trendsnafrica.com/coffee-exports-from-east-africa-to-eu-doubled-in-four-years/
https://trendsnafrica.com/20th-african-coffee-conference-to-bring-coffee-growing-countries-together/
The CMA will become the exchange’s regulator when a task force appointed by the Cabinet Secretary for Co-operatives and Micro, Small, and Medium-sized Enterprises (MSMEs) Simon Chelugui, completes this Nairobi Coffee Exchange transition process. The task force has a brief to manage the transition of the Nairobi Coffee Exchange into The Coffee Exchange. Members of the task force include Kenneth Gitonga, Peter Githinji Njuki, Augustus Kipkoech Chepkurwo, and six others. The task force will be in office for 12 months until 7th December 2024 with the possibility of an extension if necessary.
