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Equity Bank, the flagship unit of Equity Group led by veteran banker James Mwangi, has partnered with Inchcape Kenya to assist small- and large-scale farmers in accessing modern agricultural machinery.
Inchcape, the new exclusive dealer for New Holland tractors and equipment in Kenya, will work with Equity to roll out flexible financing options that make it easier for farmers to own tractors and implements.
The program offers up to 95 percent financing for New tractors with repayment periods extending to five years. Farmers can choose between monthly, quarterly, or seasonal payment plans to match their cash flow cycles. The arrangement aims to ease financial pressure while encouraging mechanization and higher farm productivity.
Empowering farmers, boosting food security
Speaking during the announcement, Equity Bank Kenya’s Commercial Director David Bagenda, representing Managing Director Moses Nyabanda, said the initiative is designed to help millions of Kenyan farmers modernize their operations and strengthen food security.
“This reflects our commitment to empowering farmers through accessible financing solutions that drive agricultural modernization,” Bagenda said. “By reducing the cost burden of acquiring farm equipment, we’re helping farmers increase productivity and build resilience. Inchcape’s reliable machinery and after-sales services complement our long-term goal of supporting sustainable growth across the agricultural sector.”
Farmers will also be able to finance essential implements such as ploughs, harrow discs, boom sprayers, and balers. To reduce risks, Inchcape will offer one year of free insurance through Equity Bancassurance Intermediary Ltd, providing additional peace of mind for first-time buyers.
Building resilience through partnership
Inchcape Kenya Managing Director Marion Gathoga-Mwangi said the collaboration was designed to remove barriers that have kept many farmers from adopting mechanized tools.
“Access to the right equipment should never be a barrier to progress,” she said. “Together with Equity, we’re making tractor ownership attainable for every farmer—helping them grow more, earn more, and secure their livelihoods.”
The collaboration aligns with Equity Group’s Africa Recovery and Resilience Plan, a broader initiative aimed at empowering communities and supporting economic recovery across the continent.
Equity expands footprint, boosts earnings
Equity Group, the region’s largest lender with operations in Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of Congo. Mwangi, who is also the bank’s largest individual shareholder with a 3.39 percent stake, has overseen the institution’s expansion from a Kenyan lender to a regional banking force.
In its latest half-year results, Equity Group reported a 17 percent rise in net profit to Ksh34.6 billion ($267.8 million), driven by higher interest income and lower loan loss provisions.
Earlier this year, the lender partnered with the International Finance Corporation on a $20 million risk-sharing facility to expand lending to refugees and host communities in Kenya — underscoring its continued focus on inclusive growth across sectors.
