Absa Powers 300K Farmers with KES 500M Agribiz Boost
Absa Powers 300K Farmers with KES 500M Agribiz Boost
Absa Bank Kenya PLC https://www.absabank.co.ke/personal/ has scaled up its commitment to agricultural transformation through a KES 500 million financing partnership with agri-tech company Hello Tractor and global machinery giant John Deere. The collaboration, launched two years ago, aims to mechanise Kenyan agriculture by making modern farming equipment accessible to smallholder farmers.
The agreement finances the purchase of tractors and implements, which farmers can access on a Pay-As-You-Use model. This flexible arrangement significantly reduces the high upfront costs that have traditionally barred many farmers from mechanisation.
In the initial phase, Hello Tractor fully utilised the KES 500 million to procure 100 John Deere tractors and related equipment. With demand still growing, the partners agreed to extend the programme. The goal is to impact more farmers across Kenya’s high-potential food production zones.
Through Hello Tractor’s digital platform, farmers can book tractors on demand. The app connects farmers, tractor owners, equipment suppliers, and manufacturers—creating a seamless ecosystem. So far, the platform has enabled small-scale farmers to cultivate more land faster and more efficiently.
Mechanisation for Productivity, Jobs, and Food Security
Speaking during the launch of Hello Tractor’s new hub in Kisumu County, Absa Bank’s Business Banking Director Elizabeth Wasunna-Ochwa noted that access to modern farming tools has been a game-changer. She said the initiative allows farmers to increase their yields, reduce production costs, and enhance food security across rural communities.
Absa Powers 300K Farmers with KES 500M Agribiz Boost
“The cost of acquiring a tractor has always been a major hurdle,” said Wasunna. “This partnership has broken down those barriers and empowered farmers to commercialise their operations. It’s also helping communities thrive by increasing productivity.”
The bank projects that the programme will create at least 3,000 direct jobs and benefit more than 300,000 farmers countrywide. These farmers are expected to produce nearly 1 million metric tons of food valued at over KES 21.4 billion (approx. USD 150 million).
Hello Tractor CEO Jehiel Oliver said their mechanisation hubs are anchoring entire ecosystems. “We bring together farmers, tractor owners, input suppliers, and agronomists. Our Kisumu hub already has 50 tractors serving 150,000 acres,” he said.
He added that the partnership also includes access to agricultural inputs, training centres, and advisory services. These support farmers to adopt best practices and boost productivity. “With support from Absa, we are scaling this model across Kenya and into other African countries,” Oliver noted.
Kisumu County’s Agriculture CEC, Kenneth Onyango, lauded the initiative for helping farmers transition from subsistence to commercial agriculture. “This aligns with our food security mandate. Partnerships like this are key to transforming our agricultural landscape,” he said.
Agriculture remains the backbone of Kenya’s economy, contributing around 50% of GDP (when including linkages), 60% of export revenue, and employing nearly 40% of the population.
Absa Bank continues to invest in agribusiness through its information-led approach. The bank supports all actors along the agricultural value chain—from input suppliers and producers to aggregators and agro-processors.
Additionally, Absa is championing the inclusion of women in agriculture through this programme. By supporting their participation in mechanised farming, the bank is promoting gender equity and long-term economic empowerment.
Women In Tech Kenya Chapter Launched In Nairobi In Partnership With Absa
