M a r k e t N e w s

Tractor leasing firm launches agricultural arm in Tanzania

Posted on : Tuesday , 8th September 2020

Regional Leasing Firm, Vehicle And Equipment Leasing Limited - VAELL all is set to take-off its agricultural arm in Tanzania as part of its regional expansion strategy.

Dubbed Tinga, the arm will support SMEs and small scale farmers' right to use to farm implements and transport services

"This move has been necessitated by various requests for farm machinery and transport services in East Africa's largest nation," said the firm in a statement.

VAELL Group launched Tinga in Kenya in last quarter of 2015 and has been vital in helping to boost productivity and curbing post-harvest losses in various parts of Kenya through their mechanization services and farmers training.

This has seen 300% increase in harvests and 90% decrease in postharvest losses.

Its mechanization efforts in Kenya have proved to be a success triggering the firm to replicate the model in Tanzania, after which it plans to cascade it to other countries including Zambia and DRC.

The new branch will cost the lessor Tsh1billion (Sh50 million) in the first phase.

"This entry will help farmers in Tanzania access different types of equipment and services ranging from agricultural mechanization and transport," said VAELL's Managing Director, Bertha Mvati.

Statistics indicate that due to lack of access to modern farm implements, most farmers in the region use outdated farming methods and therefore deterring them from getting proper returns on their investments.  

Mvati added through the initiative VAELL seeks to support the realization of goal number two of the United Nation's Sustainable Development Goals (SDGs) that aims at ending hunger, achieve food security and better nutrition and support sustainable agriculture.

"For us to do this well we will work together with the relevant stakeholders as war on hunger requires joint effort and cooperation between the public and private sector," she said.

Source : www.ksk.com
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