Equity, John Deere Strike Financing Deal for Farm Packages

A two-year agreement between Equity Bank and the agricultural machinery giant John Deere would help Kenyan farmers get access to financing choices for buying tractors through reasonable programs.

The deal was struck in Chicago at the second roadshow event for US Ambassador to Kenya, Meg Whitman.

The relationship between John Deere and the listed institution, which will provide financing choices, will assist both large-scale and smallholder farmers.

“Through this collaboration between Equity Group and John Deere, a world-renowned agriculture, turf and construction equipment maker, small-scale farmers, builders and landscape providers in Kenya will benefit from technology which will equip them with the capability to scale and grow their yields and businesses for larger markets,” said James Mwangi, Equity’s chief executive in a statement.

“Kenyan farmers have the opportunity with the implementation of the Africa Free Continental Trade Area Agreement to increase production for global supply chains which were disrupted by the Covid-19 pandemic and the Russia-Ukraine conflict,” he added.