Equity Group & John Deere Sign Deal to Support Small holder Farmers in Kenya

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During the second edition of US Ambassador to Kenya, Meg Whitman’s investment roadshow series to the United States, Equity Group Holdings and farm equipment maker John Deere signed 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.

The agreement underpins Equity Group’s strategic vision plan for social economic transformation in the `Africa Recovery and Resilience Plan’ which puts a focus on value addition and mechanization of agriculture in the East and Central Africa market. It was signed by John Deere Head of Business for Africa, Asia and the Middle East, Jason Brantley and Equity Group Holdings CEO and Managing Director, Dr. James Mwangi.

“Through this collaboration between Equity Group and John Deere, a world-renowned agriculture, turf and construction equipment maker, small scale farmers, builders and landscape providers in Kenya will benefit from state-of-the-art technology which will equip them with capability to scale and grow their yields and businesses for larger markets,” said Dr. James Mwangi. “Kenyan farmers have the opportunity with the implementation of the Africa Free Continental Trade Area Agreement to increase production for global supply chains which were disrupted by the COVID-19 pandemic and the Russia-Ukraine conflict,” he added.

Equity Bank will provide finance products to customers initially in Kenya for a current term of two years under the agreement. The equipment dealer MASCOR who has dealerships throughout East Africa will be the partner dealership.  Equity, John Deere and MASCOR will conduct joint trainings and marketing campaigns together to enhance farmer education on the usage of the Deere equipment in order to enhance agriculture productivity and to understand the value of mechanization in yield improvements. For farmers, including emerging and commercial farmers, part-time contractors, full time contractors and farmer groups the intention is to support profitability by improving revenues linked to yields, reducing losses, and reducing operational costs related to agriculture production.

Equity’s ‘Africa’s Recovery and Resilience Plan’ is committed to supporting the advancement and scaling of Africa’s small-scale farmers with training, mechanization, and market access.

Dr. Mwangi stated, “In John Deere we have a significant partner of like-minded interest to support scaling and mechanization for small-scale farmers in Kenya. This partnership aligns to the Africa Recovery and Resilience Plan, which seeks to foster a more coordinated, connected and capacitated primary supply chains to drive higher productivity.” He continued, “With American expertise and African ingenuity, hard work and natural resources, coupled with access to affordable financing and the network of infrastructure (branches, agents) that Equity can offer the partnership, in collaboration with MASCOR dealerships in the region, the milestone of our signing today can pave the way for a cohesive US-AFRICA private sector engagement framework built on trust and mutual interests in the market”.

This is the second roadshow in partnership with the US Embassy Kenya, Ambassador Meg Whitman, and Prosper Africa which Equity Group and Dr. Mwangi have participated in; the first one being in March 2023 in New York City with US financial investors.

In addition to the Equity-John Deere agreement signing, Dr. Mwangi participated in the opening panel moderated by Ambassador Whitman entitled, “Why Africa, Why Kenya?” during which he articulated the Africa Opportunity for assembled US and Kenya companies, US and Kenya government officials and American investors. Dr. Mwangi and the Equity team also held meetings during the day’s networking portion with US and Africa agriculture companies wanting to do business or already doing business in the East and Central Africa region.

From Chicago the roadshow headed to San Francisco for two days of meetings with American technology companies.

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