KCB Bank and Inchcape Kenya have launched a strategic partnership aimed at accelerating agricultural mechanization in Kenya by providing affordable financing solutions for farmers seeking to acquire New Holland tractors and other farm implements.
The collaboration is expected to boost agricultural productivity and support food security by enabling farmers and agribusinesses to access modern farming equipment without the burden of high upfront costs.
Through the partnership, customers will receive financing of up to 95% of the cost of New Holland tractors and accompanying agricultural implements. The financing package offers repayment periods of up to 60 months, giving farmers flexibility to align loan repayments with their farming cycles.
In addition to conventional monthly repayments, customers can opt for seasonal payment plans based on harvest periods. Farmers who choose monthly installments will also enjoy a 60-day repayment grace period from the date the tractor is delivered, easing cash flow pressures during the planting season.
Partnership to Boost Farm Mechanization and Agricultural Productivity
Speaking on the partnership, Inchcape Kenya Managing Director Marion Gathoga-Mwangi said increasing access to modern farm machinery remains critical to improving efficiency and yields across Kenya’s agricultural sector.
“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.
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According to Gathoga-Mwangi, wider adoption of mechanized farming practices will help farmers reduce labor costs, improve operational efficiency, and increase output, ultimately strengthening Kenya’s food production capacity.
KCB Bank Strengthens Support for Agribusiness Financing
KCB Bank Director of Corporate Banking Peter Ng’eno said the initiative aligns with the lender’s commitment to supporting farmers and agribusinesses through innovative financing solutions tailored to the realities of the agricultural sector.
“The partnership with Inchcape Kenya marks an important milestone in our mission to provide accessible and flexible financing to farmers. By matching repayment schedules to farming cycles, we are removing barriers that have long hindered agricultural mechanization while empowering farmers to boost productivity and improve their livelihoods,” he said.
Agricultural Mechanization Key to Kenya’s Food Security Goals
Agriculture remains one of the largest contributors to Kenya’s economy, accounting for a significant share of GDP and employing millions of people directly and indirectly. However, inadequate access to modern farm equipment has continued to limit productivity, particularly among smallholder farmers.
Industry stakeholders have increasingly emphasized agricultural mechanization as a critical factor in enhancing food security, increasing yields, and modernizing farming practices.
KCB Bank has continued to play a leading role in financing Kenya’s agricultural sector through tailored financial products that support the entire agricultural value chain, including crop production, livestock farming, input suppliers, processors, and agribusiness enterprises.
The latest collaboration with Inchcape Kenya underscores the bank’s commitment to promoting sustainable agriculture and expanding access to affordable tractor financing solutions that can transform farming operations across the country.
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