Inchcape, KCB Bank Partner to Provide 95% Financing For Farmers

KCB Bank and Inchcape, a leading global distributor and retailer of automotive and heavy machinery products, have entered into a strategic partnership aimed at increasing access to agricultural industrialization by offering affordable financing for the purchase of the new Holland tractors and agricultural implements.

The partnership is designed to support farmers to acquire modern farming equipment through flexible financing arrangements, supporting efforts to improve productivity and efficiency in the agricultural sector.

Under the agreement, farmers will access up to 95% of the cost of New Holland tractors, including agricultural implements. Additionally, the financing package offers repayment period of up to 60 months and flexible repayment options of either monthly installments or seasonal payments schedules aligned with harvest cycles.

Farmers opting for monthly repayments will also benefit from a 60 day repayment holiday from the date the tractor is released.

However, all finance tractors will be insured through KCB Bancassurance to provide customers with protection throughout the loan long period and the financing package will be offered at a competitive interest rate to make tractor ownership more accessible to farmers across Kenya.

Speaking on the partnership, 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.”

Peter Ng’eno, Director of Corporate Banking at KCB Bank noted that the partnership represents significant progress in the bank’s effort to expand accessible financing for farmers.

“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.” He added.

Furthermore, KCB continues to lead the financing for Kenya’s agricultural sector through tailored solutions for farmers and agribusinesses across the value chain. According to KCB, the partnership underscores its push for inclusive growth, food security and sustainable agriculture.