Farm Equip Tanzania and Equity for Tanzania (EFTA) have signed an agreement which provides for equipment finance of up to 80m/- for small-scale enterprises and farmers in Kilimanjaro and Arusha regions.The agreement was signed between Farm Equip Tanzania's Chief Operating Officer (COO) Mr Rattan Singh and EFTA's Chief Executive Officer Ms Madeleine Anderson. "We are very pleased to be bringing Farm Equip on board as an EFTA approved and preferred supplier.
This will greatly extend the range of agricultural equipment that we can finance. "EFTA looks forward to working together with Farm Equip to help raise productivity for farmers initially in Kilimanjaro and Arusha and later across Tanzania as we expand our branch network," Ms Anderson said.
Mr Singh thanked the equity firm for working together with his company towards efforts of spearheading green revolution in Tanzania.
"Farm Equip is committed towards the growth and prosperity of farming community in Tanzania and with the easy finance availability from EFTA, we would be able to bring reforms towards mechanization.
"Through the agreement, farmers will be enabled to shift from hand hoes and ox-driven plow to power tillers, tractors, reapers, combine harvesters and paddy planters among others," Mr Singh said.
Also speaking during the occasion, Farm Equip's Managing Director Vivek Sheel welcomed signing of the agreement, noting that it will go long way in improving agriculture mechanization in the two regions.
"We shall provide affordable farm mechanization solutions with appropriate technology adapted to the Tanzanian farms. I urge farmers to come up and reap benefits of this association with EFTA and bring reforms towards agriculture growth," Mr Sheel said.
Farm Equip is an exclusive distributor for International Tractors Ltd India, Greaves Cotton Ltd, Kubota Tractors Japan, ASPEE Sprayers India.
The company also mulls over venturing into fertilizer, seeds and pesticide business in the near future. On the other hand, EFTA is a leasing company head-quartered in Moshi that provides equipment finance of up to 80m/- for small enterprises and farmers, without collateral.
"Through the agreement, farmers will be enabled to shift from hand hoes and ox-driven plow to power tillers, tractors, reapers, combine harvesters and paddy planters among others," Mr Singh said.
Also speaking during the occasion, Farm Equip's Managing Director Vivek Sheel welcomed signing of the agreement, noting that it will go long way in improving agriculture mechanization in the two regions.
"We shall provide affordable farm mechanization solutions with appropriate technology adapted to the Tanzanian farms. I urge farmers to come up and reap benefits of this association with EFTA and bring reforms towards agriculture growth," Mr Sheel said.
Farm Equip is an exclusive distributor for International Tractors Ltd India, Greaves Cotton Ltd, Kubota Tractors Japan, ASPEE Sprayers India.
The company also mulls over venturing into fertilizer, seeds and pesticide business in the near future. On the other hand, EFTA is a leasing company head-quartered in Moshi that provides equipment finance of up to 80m/- for small enterprises and farmers, without collateral.
Source: Daily News, reported by Alvar Mwakyusa from Dar es Salaam, Tanzania
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