NAIROBI, Kenya, Sep 21 – Equity Group has signed a deal with farm and equipment maker John Deere to finance the acquisition of farming machines.
The two-year deal will see the Kenyan lender offer prospective buyers asset financing solutions.
Likewise, John Deere and MASCOR will roll out joint training and marketing campaigns to educate farmers.
The deal is part of the two firms ambition to enhance agriculture productivity through mechanization.
“Through this collaboration between Equity Group and John Deere, a world-renowned agriculture, turf and construction equipment maker, small scale farmers, builders and landscape providers in Kenya will benefit from state-of-the-art technology which will equip them with capability to scale and grow their yields and businesses for larger markets,” said Equity Group CEO James Mwangi.
“Kenyan farmers have the opportunity with the implementation of the Africa Free Continental Trade Area Agreement to increase production for global supply chains which were disrupted by the COVID-19 pandemic and the Russia-Ukraine conflict,” he added.
Mwangi exuded confidence in the partnership, adding that it will scale up mechanization for small-scale farmers in the country.
The agreement was signed on the sidelines of the second edition of US ambassador to Kenya Megg Whitman’s roadshows in Chicago.
