From left: Marion Gathoga Mwangi, Managing Director of Inchcape Kenya and Grace Mbugua, Executive Head, Product Management at KCB Bank, inspect a New Holland tractor during the signing of a Memorandum of Understanding.
KCB Bank and Inchcape Kenya have joined forces in a strategic partnership to make agricultural mechanization more accessible and affordable for those purchasing New Holland tractors.
Through the partnership, farmers will access up to 95% financing which also includes purchase of agricultural implements with repayment periods of up to sixty months. Customers also have the option to pay monthly or follow seasonal payment schedules based on their harvest cycles. Farmers who choose monthly payments will enjoy a sixty-day repayment holiday from the date the tractor is released.
Marion Gathoga-Mwangi, Managing Director of Inchcape Kenya said: “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.”
On his part, KCB Bank Director of Corporate Banking, Peter Ng’eno noted that the partnership with Inchcape Kenya marks a major step in KCB’s mission to support farmers by providing accessible and flexible finance. “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.”
