Over 300,000 smallholder farmers across the country are set to benefit from enhanced access to mechanised farming, following the expansion of a Sh500 million financing partnership between Absa Bank, Hello Tractor, and global machinery manufacturer John Deere.
The partnership, which began two years ago, enables farmers to lease tractors on a Pay-As-You-Use basis via Hello Tractor's mobile platform.
With the initial Sh500 million fully utilised to purchase 100 John Deere tractors, the financing window has now been extended to scale up the service nationwide.
Absa Bank's Business Banking Director, Elizabeth Wasunna said the expanded facility will bridge the gap in mechanisation and boost food production across the country. "Through this initiative, we are enabling farmers to cultivate more land efficiently, reduce production costs, and contribute significantly to national food security," she said.
