Rafiki Microfinance Bank and CFAO Kenya ltd. offer farmers access to capital
At the end of the first week of the year, CFAO Kenya limited and Rafiki Microfinance Bank partnered to offer farmers an option to purchase CASE IH and Captain Tractors.
This partnership was set in motion at the Toyota Academy in South C, Nairobi on the 7th of January. The collaborative effort allows farmers room to access financial products that will allow them to get the tractors through flexible monthly instalments.
The bank will provide farmers with up to 60% financing that is repayable over 48 months. With a 40% deposit, the captain tractor customers will pay monthly instalments starting as low as KES 24,000 under this agreement.
Opening the doors for agricultural mechanization
This agreement opens the doors for all interested in agricultural mechanization and the much needed access to capital.
Speaking at the signing ceremony, Rafiki Microfinance Bank’s Chief Executive Officer, Mr Joseph Njuguna, reiterated the bank’s commitment to providing innovative and affordable financial solutions to support agribusiness and enable farmers to access modern farm machinery and equipment.
Photo: Country Delegate and Chairman CFAO Kenya Amb. Dennis Awori with Rafiki Microfinance CEO Mr. Joseph Njuguna, during the launch of the finance partnership that aims to offer farmers access to own tractors. The bank has gracefully committed 500 million to go through the first quarter.
These financial solutions include access to loans and insurance. CFAO Kenya’s Chairman and Country Delegate, Amb. Dennis Awori, reiterated the message on equipping farmers with access to affordable finance as the key to unlocking Kenya’s agriculture potential.
In addition, our company is also keen on providing aftersales services accessible from anywhere in the country through our expansive network that includes branches, dealers, and agents, therefore ensuring the tractors we provide give value for money to our farmers.
Conclusively, efforts like this by both parties are a great stride in the walk towards opening doors for farmers when it comes to accessing capital and equipment.