Equity Group Holdings and farm equipment maker John Deere have inked a comprehensive agreement to offer tractors into the Kenyan market through well-defined and affordable finance programs for both large-scale and small-scale farmers. 

Equity Group MD and CEO, Dr. James Mwangi, & John Deere Head of Business for Africa, Asia and the Middle East, Jason Brantley, during the second edition of the US Ambassador to Kenya, Meg Whitman's investment roadshow series, signed this transformative pact, marking a significant step towards revolutionising Kenya's agricultural landscape.

This partnership aligns with Equity Group's ambitious "Africa Recovery and Resilience Plan," which aims to enhance agricultural productivity through mechanisation and value addition in the East and Central Africa market.

Under the terms of the agreement, Equity Bank will offer finance products to customers in Kenya for an initial two-year term. The equipment dealership, MASCOR, which boasts a presence throughout East Africa, will serve as the primary partner dealership. 

This collaboration extends beyond financial support, encompassing joint training initiatives and marketing campaigns to enhance farmer education on the utilisation of Deere equipment, thereby elevating agricultural productivity and emphasising the value of mechanisation in yield improvements.

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Equity Group Managing Director and CEO Dr. James Mwangi (2nd left) and John Deere, Head of Business for Africa, Asia and the Middle East, Jason Brantley (2nd right) display signed documents on financing and collaboration agreement between Equity Group Holdings and John Deere alongside US Ambassador to Kenya, Meg Whitman (left) and Coordinator Prosper Africa for the US Government, British Robinson (right). PHOTO/COURTESY

Mwangi expressed his enthusiasm for the partnership, highlighting its potential to empower Kenyan farmers with cutting-edge technology and capabilities to scale their operations for global markets.

"Through this collaboration between Equity Group and John Deere, small-scale farmers, builders, and landscape providers in Kenya will benefit from state-of-the-art technology, equipping them to scale and expand their businesses for larger markets," he stated. 

Mwangi emphasised the timely nature of the partnership, noting that Kenyan farmers now have the opportunity to increase production for global supply chains disrupted by the COVID-19 pandemic and the Russia-Ukraine conflict.

Equity Group's 'Africa's Recovery and Resilience Plan' demonstrates a strong commitment to supporting and scaling Africa's small-scale farmers by providing training, mechanisation, and market access. 

Mwangi also underscored the compatibility of this partnership with the plan, as it seeks to create a coordinated, interconnected, and capacitated primary supply chain for higher productivity.

"In John Deere, we have a significant partner with like-minded interests, dedicated to supporting the scaling and mechanisation of small-scale farmers in Kenya. This collaboration aligns seamlessly with the Africa Recovery and Resilience Plan," Mwangi stated.

"With American expertise, African ingenuity, and the access to affordable financing and infrastructure network that Equity can offer, in conjunction with MASCOR dealerships in the region, today's signing milestone can pave the way for a cohesive US-AFRICA private sector engagement framework built on trust and mutual interests in the market."

Beyond the agreement signing, Mwangi participated in a panel discussion moderated by Ambassador Whitman titled "Why Africa, Why Kenya?" During this discussion, he highlighted the vast opportunities available in Africa for both US and Kenyan companies and the potential for collaboration and investment. 

The Equity team held meetings with US and African agriculture companies, fostering connections and opportunities in the East and Central Africa region.

From Chicago, the roadshow proceeded to San Francisco for two days of meetings with American technology companies, further affirming the commitment of Equity Group and John Deere to drive positive change and economic growth in Kenya and across the African continent.