Farmers to get 80% financing for Agri-Machinery which will ease farming

Co-operative
Bank and CFAO, formally Toyota Tsusho East Africa, have entered into a
partnership that will see farmers get up to 80 percent financing on
Agri-Machinery

The joint agreement
was signed on November 7 at the Toyota Headquarters Nairobi by Mr. Vincent
Marangu, Co-operative Bank Kenya Director of Co-operatives Banking and Mr.
Toyoki Kuno, TTEA Agri Mechanization Kenya Managing Director.

“With
this partnership, we will enable farmers and co-operative societies to more
easily acquire brand new Agri-machinery and equipment from a trusted and
leading brand,” said Mr. Marangu.

According to
the General Manager of the Agricultural division of Case IH distributor in
Kenya Ian Allen, co-op bank understands Agriculture and farmers need, therefore
the scheme will be very strong.

General Manager of the Agricultural division of Case IH, Ian Allen. Image|Courtesy

“This
is an innovative financing scheme that will be very strong. Co-operative bank understands
agriculture and its contribution to our economy,” said the GM Case IH.

Agri-Machineries
are farm mechanical devices, including tractors and implements, used in farming
to save labour and ensure quality farming.

CFAO distributes
this machinery in Kenya and East Africa, including Case-IH tractors, which boast
of being a one-stop center for the farm-inputs required by farmers in the
region.

Farm Agri-Machinery. Image|Courtesy

Agriculture
being a major economic booster in the country, efforts have been laid by the
government and non-governmental organizations to promote the sector.

Increased
access to Agri-Machinery is part of the efforts by various institutions to
realize high agricultural productivity.