Equity Group has signed a two-year deal with global farm equipment giant John Deere,a collaboration aimed at revolutionizing Kenyan agriculture by providing Kenyan farmers, both large-scale and smallholders, with access to affordable financing options for the acquisition of essential farming machinery.
At a signing ceremony held on the sidelines of the second edition of US Ambassador to Kenya Megg Whitman’s roadshow in Chicago, Equity Group CEO James Mwangi expressed his enthusiasm for the partnership.
“Through this collaboration between Equity Group and John Deere, small-scale farmers, builders, and landscape providers in Kenya will benefit from state-of-the-art technology, which will equip them with the capability to scale and grow their yields and businesses for larger markets,” said Mwangi.
The core objective of this partnership is to enhance agricultural productivity in Kenya through mechanization.
John Deere, renowned for its high-quality agricultural, turf, and construction equipment, will provide the machinery, while Equity Bank will offer financing options tailored to the needs of farmers.
This strategic alliance is set to drive forward Kenya’s agricultural sector by empowering farmers with the tools and resources they need to thrive.
Equity Group CEO James Mwangi highlighted the timeliness of this collaboration in the context of global disruptions caused by the COVID-19 pandemic and the Russia-Ukraine conflict.
“Kenyan farmers have the opportunity, with the implementation of the Africa Free Continental Trade Area Agreement, to increase production for global supply chains,” he noted.
In addition to financing solutions, John Deere and MASCOR, a subsidiary of John Deere, will join forces to provide comprehensive training and engage in marketing campaigns aimed at educating farmers.
This will ensure that farmers not only have access to the equipment they need but also the knowledge and skills to use it effectively.
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This collaboration comes at a crucial time when Kenya is poised to strengthen its position in global agricultural supply chains. As the African Free Continental Trade Area Agreement opens up new opportunities for trade, Kenyan farmers are well-positioned to contribute to increased production and economic growth.
In the words of Equity Group CEO James Mwangi, “This partnership will scale up mechanization for small-scale farmers in the country, empowering them to reach new heights in their farming endeavors.”