Equity bank Kenya and AGCO, a US company that owns the Massey Ferguson brand, have signed a partnership agreement that will see their customers get up to 80% financing payable within 48 months on the Massey Ferguson tractors and accompanying implements.
Speaking at the launch ceremony, Equity bank Kenya Associate Director- Credit, Sam Ndung’u, indicated that the bank is partnering with AGCO, one of the biggest agricultural machinery companies globally.
Through the sole franchise holder, FMD East Africa, financing will be provided to both businesses and individuals for Massey Ferguson tractors and complimenting implements.
Equity bank is giving customers who qualify for the financing to purchase the tractors under the partnership terms, a specially negotiated comprehensive insurance cover at an annual premium of 2% of tractor value, through equity insurance agency as part of the deal.
