Nairobi: Kenyan farmers will now find it easier to own tractors and mechanize their farms, thanks to a new financing partnership between Equity Bank Kenya and Inchcape Kenya Ltd, the official distributor of New Holland agricultural equipment. The initiative, launched on Monday in Kimana, Loitokitok sub-county, Kajiado County, will see farmers access up to 95 percent financing for New Holland tractors and related equipment, with repayment terms of up to five years. Repayment plans are tailored to suit the income cycles of farmers, allowing monthly, quarterly or seasonal options.
According to Kenya News Agency, speaking during the launch, Equity Bank Kenya Commercial Director David Bagenda said the initiative will enable farmers to increase productivity and improve their incomes. "This initiative reflects our commitment to empowering farmers through accessible financing solutions that drive agricultural modernization. By easing the financial burden of acquiring tractors and farm equipment, we are supporting farmers to modernize their operations, enhance productivity and contribute to Kenya's food security," said Bagenda.
Under the partnership, farmers can also acquire farm implements such as ploughs, harrows, planters, mowers, and sprayers under the same financing package. The scheme offers competitive interest rates and includes one year of free insurance cover provided by Equity Bancassurance Intermediary Ltd (EBIL). Inchcape Kenya Managing Director Marion Gathoga said the partnership marks a milestone in promoting agricultural mechanization and transforming rural livelihoods. "Access to the right equipment should never be a barrier to progress. By making tractors more affordable, we are empowering farmers to increase production, improve efficiency and strengthen food security across the country," said Gathoga.
The financing package covers a range of New Holland tractor models including the TT Series (55 HP-75 HP), TD Series (80HP and 95HP) and TS Series, available in both 2WD and 4WD options. To enhance accessibility, Inchcape Kenya has established branches in Nakuru, Eldoret, and Kisumu, where farmers can access sales, maintenance, and genuine spare parts from trained technicians. The partnership is expected to boost mechanization, promote food security, and empower farmers to build more resilient and sustainable agribusinesses.