Absa Bank Boosts Agribusiness with KES 500M Financing Deal to Empower Over 300,000 Kenyan Farmers
As part of this initiative, Absa has introduced a mobile application that allows farmers to either hire or purchase tractors through Hello Tractor’s innovative platform.
Absa Bank Kenya business Banking Director Elizabeth Wasunna operates a tractor during launch of Heloo Tractor in Kisumu
By Jessica Nyaboke
Farmers across Kenya’s grain basket regions have a reason to celebrate following a major boost in agricultural mechanization.
Absa Bank Kenya PLC has expanded its ongoing KES 500 million financing agreement with agri-tech company Hello Tractor and U.S. machinery giant John Deere, aiming to support over 300,000 farmers with easier access to tractors and farming equipment.
As part of this initiative, Absa has introduced a mobile application that allows farmers to either hire or purchase tractors through Hello Tractor’s innovative platform.
The app connects farmers with tractor owners and suppliers, enabling them to access mechanized farming services on a Pay-As-You-Use basis — a model designed to increase productivity while reducing operational costs.
The initial phase of the partnership saw Hello Tractor fully utilize the KES 500 million loan facility to acquire 100 John Deere tractors and related implements.
This success has led to an extension of the financing window to scale up operations and reach more farmers in regions such as Uasin Gishu, Kenya’s breadbasket.
Speaking during the launch of Hello Tractor’s new mechanization hub in Kisumu County, Absa Bank Kenya’s Business Banking Director, Elizabeth Wasunna-Ochwa, emphasized the importance of modern equipment in transforming agricultural productivity.
“For many farmers, the high cost of purchasing tractors has been a major obstacle,” said Ms. Wasunna. “This partnership with John Deere and Hello Tractor not only eases access to modern machinery but also enhances farming efficiency and productivity. Through this, we are empowering farmers to cultivate more land, improve their yields, and contribute to national food security.”
The expanded program is expected to mechanize over 300,000 farmers, create more than 3,000 direct jobs, and boost food production to nearly one million metric tons — valued at approximately KES 21.4 billion (USD 150 million).
Hello Tractor CEO, Jehiel Oliver, highlighted the broader impact of the initiative, noting that the hubs are transforming the agricultural landscape by integrating farmers, tractor owners, agronomists, and input providers into a seamless ecosystem. “Our work in Kisumu has shown what’s possible — with 50 tractors now serving 150,000 acres. We’re proud to extend this success across Kenya and beyond,” he said.
Kisumu County CEC for Agriculture, Kenneth Onyango, welcomed the move, stating, “This partnership is a game-changer, shifting farmers from traditional subsistence practices to commercial agriculture. It’s a vital step in boosting food security across the nation.”
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