Nairobi, Kenya, January 7, 2022
Rafiki Microfinance Bank and CFAO Kenya Limited have partnered to provide asset finance package targeting the agriculture sector. This will give farmers access to financial products that will empower them to purchase Case IH and Captain Tractors through flexible monthly instalments. The partnership was Launched on the 7th of January at the Toyota Kenya Academy on popo road, south C office.
The agreement calls for the bank to provide farmers and individuals with up to 60% financing, repayable within 48 months. With a 40% deposit, the captain tractor customers will pay monthly instalments starting as low as KES 24,000 under this agreement. This will provide affordable access to anyone interested in agricultural mechanization with 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. 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. CFAO Kenya is committed to ensuring that Kenyan farmers receive world-class agricultural machinery through our two tractor brands; Case IH and Captain tractors that cover for small, mid-range to high horsepower units as well as a range of implements that cater to various farm application for the farmers. 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.