Marion Gathoga – MD Inchcape Kenya (Right) Lennox Mugambi – Group Director Asset Finance and Business Solutions, NCBA, during the NCBA – Inchcape Tractors, Asset Finance Partnership Signing.
NCBA Group has entered into a strategic partnership with automotive distributor Inchcape in a move aimed at accelerating farm mechanisation and improving agricultural productivity across Kenya.
The collaboration seeks to address one of the sector’s long-standing challenges, limited access to affordable mechanised farming solutions despite agriculture contributing about 21 per cent of Kenya’s Gross Domestic Product and employing millions of livelihoods.
Under the partnership, NCBA will provide a tailored asset financing solution to enable farmers, cooperatives and agribusinesses acquire New Holland tractors with financing of up to 95 per cent of the tractor cost.
The package also includes financing for up to two farm implements such as ploughs, boom sprayers or balers, as well as access to working capital of up to KES 500,000 for business customers to support post-purchase operations.
Speaking during the announcement, NCBA Group Director for Asset Finance and Business Solutions, Lennox Mugambi, said the partnership is designed to align financing with the realities of farming.
“Today is about more than machinery; it is about empowering farmers to expand their acreage and strengthen their livelihoods. By matching repayment schedules to the realities of farming and offering up to 95 per cent financing, we are removing the barriers that have historically held back the sector,” Mugambi said.
Unlike conventional agricultural loans, the financing solution introduces flexible features tailored to farmers’ income cycles. These include repayment tenures of up to 60 months, seasonal repayment options aligned to harvest periods, and a 60-day repayment holiday for farmers on monthly instalment plans, allowing the asset to generate income before repayments begin.
The programme also incorporates blended finance, with NCBA partnering with Development Finance Institutions (DFIs) and non-governmental organisations to make credit more affordable and sustainable in the long term.
Inchcape Managing Director said the partnership will help farmers access world-class agricultural machinery backed by reliable after-sales support.
“We are thrilled to work with NCBA to help Kenyan farmers access world-class tractors. Our extensive dealer network in Nakuru, Nairobi, Eldoret and Kisumu, soon expanding to Mombasa, Nanyuki and Meru alongside factory-trained technicians and genuine New Holland parts, ensures long-term reliability and value for farmers,” he said.
All tractors financed under the programme will be insured through NCBA Bancassurance Intermediary Limited, offering protection to both farmers and the bank throughout the asset’s lifespan.
Farmers, cooperatives and agribusinesses interested in the financing solution have been advised to contact their NCBA relationship managers, visit any NCBA branch, or reach out to authorised Inchcape dealers nationwide.
