<\/p>\n
\u00a0By News Desk <\/strong><\/pre>\nThe agricultural sector is set for a major boost following a strategic partnership between KCB Bank and Inchcape Kenya aimed at making modern farming equipment more accessible to farmers across the country.<\/p>\n
Under the new agreement, farmers seeking to purchase New Holland tractors will access financing of up to 95 percent of the total cost, including agricultural implements. The financing package offers flexible repayment<\/strong> periods of up to 60 months, with farmers given the option of monthly installments or seasonal payments aligned to their harvest cycles.<\/p><\/blockquote>\n
To further ease the burden on farmers, those opting for monthly repayments will benefit from a 60-day repayment holiday from the date of tractor release. The package also comes with competitive interest rates and comprehensive insurance coverage through KCB Bancassurance, ensuring protection throughout the loan period.<\/p>\n
Speaking during the announcement, Inchcape Kenya Managing Director Marion Gathoga-Mwangi said the partnership goes beyond financing and seeks to accelerate agricultural mechanization, a critical factor in improving productivity and efficiency in the sector.<\/p>\n
“Through this collaboration, we are not just offering financing but driving mechanization, which remains a key pillar in increasing agricultural productivity and efficiency. When farmers have access to modern, reliable machines, their yields rise, their costs reduce, and their work on the farm becomes more rewarding,” she said.<\/p><\/blockquote>\n
KCB Bank Director of Corporate Banking Peter Ng\u2019eno noted that the initiative is designed to address long-standing barriers that have prevented many farmers from embracing mechanized farming.<\/p>\n
“By matching repayment schedules to the realities of farming, we are removing barriers that have long held back mechanization as a way of empowering farmers to boost productivity and improving their livelihoods,” he said.<\/p>\n
The partnership reinforces KCB’s commitment to supporting Kenya’s agricultural sector through innovative financial solutions tailored to farmers and agribusinesses across the agricultural value chain. Industry players believe the move could significantly contribute to increased food production, improved efficiency<\/strong>, and enhanced rural economic growth.<\/p><\/blockquote>\n
As Kenya continues to prioritize food security and sustainable agricultural development, the KCB-Inchcape partnership is expected to play a pivotal role in modernizing farming practices and improving farmers’ access to critical machinery.<\/p>\n","protected":false},"excerpt":{"rendered":"
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