Farmers face new levy in produce exchange plan
Nairobi, March 14 -- Farmers are expected to part with a new 0.25 percent levy on gross value of their harvests traded on the planned agricultural produce exchange.
The Kenya National Multi Commodities Exchange (Komex) had been scheduled to start mock trading on January 29, 2024, and go live on February 26, 2024, but the kick-off has been postponed.
Proposed regulations by Treasury Cabinet Secretary said farmers would be charged a regulatory fee on their commodity traded and deducted from their earnings.
Proceeds from the levy will fund the Capital Markets Authority's work on oversight of players in the commodities market.
"The Capital Markets (Commodity Markets) Regulations 2020, have been amended to introduce fees to support regulat...
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