Hotline +254 763 063 000
Hotline +254 763 063 000
Nakuru, 26th October 2019… Equity Bank Kenya and AGCO, a U.S. Company which owns the Massey Ferguson brand, have today signed a partnership agreement that will see their customers get up to 80% financing payable within 48 months on the Massey Ferguson tractors and accompanying implements.
Speaking at the launch ceremony, Equity Bank Kenya Associate Director- Credit, Sam Ndung’u, indicated that the Bank is partnering with AGCO, one of the biggest agricultural machinery companies globally. Through the sole franchise holder, FMD East Africa, financing will be provided to both businesses and individuals for Massey Ferguson tractors and complimenting implements.
“We share a common goal with AGCO which is to empower SMEs and especially those in the agribusiness value chain from farmers, to processors, with the aim of assisting in the achievement of food security on the continent. This partnership will go a long way to enable more convenient access to finance thereby creating growth and job opportunities for more people,” said Mr. Ndung’u.
On his part, Fergus Robley, the General Manager of FMD said, “This partnership will provide the missing link from wishing to own and enable the farmers to actualize their plans on making farming profitable. FMD provides the machinery and professional expertise in agri-mechanisation solutions. The partnership will facilitate the farmers to have quick turnaround time on loan applications as well as the comfort of having quality equipment on their farms. FMD is well known for being the pacesetter in aftersales support”.
Equity Bank is giving customers who qualify for the financing to purchase the tractors under the partnership terms, a specially negotiated comprehensive insurance cover at an annual premium of 2% of tractor value, through Equity Insurance Agency as part of the deal.
Massey Ferguson tractors are one of the most recognized tractors throughout the world. These tractors have proven to give unrivaled longevity throughout Africa and are preferred by those involved in crop farming, livestock keeping and horticulture.
The Kenya National Government’s Big 4 Agenda includes Manufacturing and Food Security (Agribusiness). Equity Bank has aligned its strategy with this national agenda, to focus on growing the Agribusiness portfolio through servicing all segments from retail, to SME, to large enterprises and corporate banking customers.
The partnership comes on the backdrop of a recent partnership between Equity Bank Kenya and European Investment Bank and supported by the European Union, for an agriculture sector financing agreement. The partnership will see economic opportunities for thousands of small holder farmers across Kenya transformed through a EUR 50 million (KES5.7 billion) fund.
Equity has been ranked as the 2nd topmost valuable brand in Kenya, according to Brand Finance, an...
View MoreNairobi, 1
Nairobi 25th November 2020… Equity has announced the appointment of Samuel Onyango as a...
View MoreFor the third consecutive year, Equity has won the 2020 SME Bank of the year - Africa Award at the...
View MoreThe second consignment of PPEs for public hospitals is valued at Ksh 125M with an additional...
View MoreProf. Waema brings on board his extensive ICT experience that spans over 30 years in both private...
View MoreEquity, with a balance sheet size worth Kshs. 673.7 billion at the end of 2019, has been listed at...
View MoreThe Kenya National Chamber of Commerce and Industry (KNCCI) and...
View MoreMSE Associations under MSEA will benefit from financial empowerment, advisory services and...
View MoreEquity Supports MSMEs With USD $100 Million Partnership with Proparco (Agence Française de...
View MoreNairobi, Kenya: September 9, 2020 – Dr. James Mwangi, Group Managing Director and CEO of Equity...
View More92 Equity Leadership Program (ELP) Scholars Receive Admission to 43 Global Universities
View MoreEquity Bank (Kenya) Ltd Board has appointed Ambassador Erastus Mwencha, as the Chairman, taking over...
View MoreThe 0763 000 000 number will become the single line of contact from Equity to customers thus...
View MoreThe Kenya Covid-19 Fund Board, in partnership with Equity Group Foundation (EGF) have completed...
View MoreEquity has signed a Memorandum of Understanding with Crown Healthcare to enable SMEs in the...
View MoreNairobi, 28th July 2020… Equity has scooped three top awards at this year’s Euromoney Awards...
View MoreThe loan, which will ultimately support hundreds of Kenyan businesses in the manufacturing,...
View MoreThe Kenya COVID-19 Fund Board, in partnership with Kenya Association of Manufacturers (KAM)...
View MoreFrontline public healthcare staff dealing with COVID-19 patients will receive training on case...
View MoreEquity Group has triggered a Business Continuity Plan (BCP) to protect its customers, staff and...
View MoreEquity Group Foundation (EGF), with support from the Mastercard Foundation, today announced a...
View MoreAs Equity, we continue to comply and take precautionary measures for our customers and staff...
View MoreNow, more than ever, we invite you to make Banking something you do, not somewhere you go!
View MoreReplicates and scales the successful Wings to Fly scholarship model by targeting 18,000...
View MoreEquity Group has today commissioned the 2020 cohort of Wings to Fly scholars at a ceremony held...
View MoreEquity Bank Triple Win at International Banking Awards.
View MoreFifty six Equity Leaders Program (ELP) scholars have been admitted to various top tier...
View MoreEquitel’s Mobile commerce payments continue to drive growth for the operator.
View MoreEquity taps World Bank Expatriate as it gears up for Pan African expansion and accelerated...
View MoreEquity Bank Kenya, a subsidiary of Equity Group Holdings Plc today announced the appointment of...
View MoreEquity Bank Kenya and Toyota Kenya Limited have today signed a partnership agreement that will...
View MoreEquity Group Holdings PLC (NSE: EQTY) and Safaricom PLC (NSE: SCOM) have today announced plans to...
View MoreThis year, Equity Group received nearly 20,000 applications from all counties across the country...
View MoreThirteen Wings to Fly beneficiaries were among the students who scored straight A’s in the...
View MoreChristmas carols have been around for years and set the stage for celebrating the birth of...
View MoreEquity will deploy its banking infrastructure as well as the Equity Group Foundation platform to...
View MoreInvestment groups, chamas and joint account holders can now withdraw cash from their Equity Bank...
View More