Thursday, August 13, 2020
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Agribusiness

Harvest Money Expo Goers To Acquire New Holland Tractors At 20% Deposit

As the Harvest Money expo nears, farmers will have an opportunity to acquire New Holland tractors and other farm equipment after paying only 20% of the total cost. This follows a partnership signed between The Cooper Motor Corporation (CMC), the official distributors of New Holland tractors and dfcu bank aimed at helping farmers acquire New Holland tractors through easier ways.

According to Herman Mbalasi, the Country Manager CMC, through the partnership, they want to ensure that farmers acquire genuine agricultural equipment through affordable means and thus increase productivity on the farms. “Our primary objective is to support farmers with the right equipment at favourable financial terms and thus increase productivity and incomes,” Mbalasi said.

Ronald Ssonko, the Asset Finance Manager dfcu Bank, the
partnership is not only for individual farmers but also agricultural groups as long as they meet the requisite loan requirements.“Farmers will have a maximum tenure of 60 months to clear the loan and
this will be either quarterly or bi-annual depending on the client’s cash flow cycle,” Ssonko said.

Eng. Simon Peter Mugerwa, the Technical and Sales Manager New Holland tractors says they will exhibit a wide range of tractors with different Horse Power and implements including ploughs, hurrows, planters, boom sprayer and trailers among others.

Recently, government through the National Agricultural Advisory Services (NAADS) procured more than 100 New Holland tractors for farmer groups and cooperative unions across the country. Agriculture Minister, Vincent Bamulangaki Ssempijja said the tractors were purchased to cement efforts aimed at mechanizing agriculture and improving farm productivity.

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