KCB Bank and Inchcape Kenya on Tuesday announced a strategic partnership aimed at making agricultural mechanisation more accessible and affordable through the purchase of New Holland tractors.
Under the arrangement, farmers will access up to 95% financing, which also covers agricultural implements, with repayment periods of up to 60 months. Customers will have the option of monthly repayments or seasonal payment plans aligned to their harvest cycles.
Those on monthly plans will benefit from a 60-day repayment holiday from the date the tractor is released.
All financed tractors will be insured through KCB Bancassurance, offering farmers protection throughout the loan period.
Speaking during the announcement, 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.”
KCB Bank Director of Corporate Banking, Peter Ng’eno added: “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.”
KCB Bank says the partnership reinforces its commitment to supporting Kenya’s agricultural sector through tailored financial solutions aimed at improving productivity, strengthening food security and driving sustainable agricultural growth.