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New scheme for farmers to purchase machineries and equipment- Co-op Bank and CFAO

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Vincent Marangu, director-Co-operatives Banking at Co-op Bank with Toyoki Kuno, MD- CFAO Kenya Limited when Co-operative Bank and CFAO Kenya launched a joint financing scheme to offer farmers up to 80 per cent financing for Agri-Machinery & Equipment.

Co-operative Bank (Co-op Bank) and CFAO (form ally Toyota Tsusho East Africa Ltd) have come up with a scheme to enable farmers acquire and purchase machineries and equipment.

 Farmers now have a great opportunity to easily acquire farm machinery and equipment following the signing of a joint scheme between the Co-operative Bank and CFAO Kenya Ltd (formally Toyota Tsusho East Africa Ltd).

According to the new Financing Scheme, farmers and co-operative societies will be able to finance the purchase of tractors, combine harvesters and other farm equipment they need in a more affordable fashion.

The scheme will also offer farmers and co-operative societies up to 80 per cent financing, thereby enabling them to acquire brand new machinery and equipment – such as the popular Case IH Tractors – that they need without having to pay the huge costs upfront.

Co-op Bank director of Co-operatives Banking, Vincent Marangu said the Bank is always looking for ways to assist customers to succeed in their projects and businesses.

“With the new scheme, we will enable farmers and co-operative societies to more easily acquire brand new Agri-machinery and equipment from a trusted and leading brand,” Marangu said

His Counterpart CFAO Kenya managing director, Toyoki Kuno said his company is fully committed to supporting the Big Four Agenda especially food security by providing comprehensive farming solutions which include but not limited to selling tractors.The two were speaking during the launch of the partnership