Agriculture CS Hon Peter Munya has denounced the role of Capital Markets Authority (CMA) in licensing brokers as well as supervising the Nairobi Coffee Exchange (NCE) saying that it is not properly structured to oversee marketing of Coffee in the country.
“Management of the Nairobi auction already is being carried out by the coffee directorate and equally will be broadly undertaken by parliament. I am not aware of the Capital Markets (Coffee Exchange), Regulations 2020 which CMA is purpoted to be implementing “, said CS Munya.
CS Munya was addressing coffee stakeholders at a Nairobi hotel where he gave an update on the National Coffee Revitalization Progress Report.
The report contains wide range of recommendations aimed at addressing challenges along the coffee value chain.
Coffee Reforms, being implemented by the Ministry of Agriculture, are anchored on this report.
The Reforms he said, will inject efficiency and effectiveness in the coffee value chain, increasing production and profitability.
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