Overview
- Act: Kenya National Multi Commodities Exchange Act, 2019
- Formed: 2024
- CEO: Fanuel Odede Kidenda
- X (Twitter)
The Kenya National Multi Commodities Exchange Limited (Komex) was formed to provide a regulated platform for commodity trading in Kenya. Established in 2019, it aims to enhance market efficiency by offering standardized contracts, real-time market data, and warehousing services. Komex plays a crucial role in supporting farmers and traders by facilitating access to trade finance and ensuring transparency in transactions. By promoting value addition and better market linkages, it significantly contributes to the growth of the agricultural sector and overall economic development in Kenya.
CEO: Fanuel Odede Kidenda
Mr. Fanuel Odede Kidenda is the CEO of Kenya National Multi Commodities Exchange (KOMEX). He holds a degree in economics and has vast experience in financial markets, focusing on agricultural value chains and trade facilitation. He has successfully led the implementation of the Warehouse Receipt System, enhancing transparency and market access for farmers
Board of Governors
Alfred K’Ombudo
Principal Secretary State Department for Trade & Chairman
Odede Kidenda
Ag. Chief Executive Officer
Dr. Chris Kiptoo, PhD
Principal Secretary The National Treasury
Patrick Kilemi
Principal Secretary State Department for Cooperatives
Eng. John Tanui
Principal Secretary State Department for ICT & Digital Economy
Frank Mwiti
Director & Chief Executive Officer Nairobi Securities Exchange PLC (NSE
Emmanuel Kieti
State Counsel State Department for Trade & Ag. Corporation Secretary
Functions
- Commodity Trading Platform: Provide a regulated and structured marketplace for the trading of various commodities.
- Market Information: Disseminate real-time market data and information to enhance transparency and efficiency in trading.
- Trade Finance: Facilitate access to finance for traders and farmers to support their operations and investment in commodities.
- Standardization of Contracts: Develop and enforce standardized contracts for commodities to ensure quality and fair trading practices.
- Warehousing Services: Operate warehouses for the safe storage of commodities before sale, helping manage supply and demand effectively.
- Market Linkages: Create connections between producers, traders, and consumers to streamline the commodity supply chain.
- Training and Capacity Building: Provide training programs for stakeholders in the commodities market to improve their skills and knowledge.
- Risk Management: Implement risk management systems to protect market participants from price volatility and other market risks.
- Promotion of Value Addition: Encourage value addition in commodity production to enhance market competitiveness and profitability for producers.
- Support to Regulatory Framework: Work with relevant authorities to establish and maintain a conducive regulatory environment for commodities trading.
Important Links
Address & Contacts
- P.O. Box 30430 – 00100 Nairobi Kenya
- 1st Floor KIBT Complex- Parklands, Ojijo Road
- PRJ6+PP Nairobi
- info@komex.go.ke
- +254-(0) 20-315001/2-4