Kenyan farmers are set to benefit from a new tractor financing scheme launched to ease access to modern farming equipment and boost agricultural productivity.
The initiative, unveiled on Monday in Kimana, Loitokitok Sub-county, Kajiado County, is a joint effort between Equity Bank Kenya and Inchcape Kenya Ltd, the official distributor of New Holland agricultural machinery.
Under the partnership, farmers can now access up to 95 percent financing to purchase New Holland tractors and a wide range of farm implements, with repayment terms extending up to five years.
The repayment plans are flexible, allowing farmers to choose monthly, quarterly, or seasonal payment options that align with their income cycles.
Speaking during the launch, Equity Bank Kenya Commercial Director David Bagenda said the collaboration is part of the bank’s wider strategy to support agricultural transformation across the country.
“We are committed to empowering farmers through affordable financing solutions that make mechanization possible. By removing financial barriers, we are helping farmers increase yields, improve efficiency, and strengthen food security,” said Bagenda.
The financing package also covers equipment such as ploughs, harrows, planters, mowers, and sprayers, and includes one-year free insurance provided by Equity Bancassurance Intermediary Ltd (EBIL).
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Farmers will also enjoy competitive interest rates designed to make repayment affordable.
Inchcape Kenya Managing Director Marion Gathoga described the partnership as a significant milestone in advancing agricultural mechanization and improving rural livelihoods.
“Access to reliable and efficient equipment should not be a luxury. By making tractors more affordable, we are enabling farmers to modernize their operations, save time, and increase their incomes,” she said.
The scheme covers a range of New Holland tractor models, including the TT Series (55–75 HP), TD Series (80–95 HP), and TS Series, available in both 2WD and 4WD options.
To enhance accessibility, Inchcape has established fully equipped branches in Nakuru, Eldoret, and Kisumu, offering sales, maintenance, and genuine spare parts supported by trained technicians.
The partnership is expected to not only boost farm mechanization but also create jobs, improve food production, and enable smallholder farmers to transition into sustainable agribusinesses capable of supporting Kenya’s growing population.
By Our reporter
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