Kenya: Pewin inks Sh7bn tractor plant deal

Kevin85ify · 2019-08-07T20:33:02+00:00

Pewin inks Sh7bn tractor plant deal deal MONDAY, AUGUST 5, 2019 19:16Mr Peter Kirigua. PHOTO | DIANA NGILA | NMG Logistics solutions firm Pewin Group has inked a Sh7.3 billion deal with a Belarusian agricultural machinery maker Afttrade DMCC to put up a local tractor assembly plant. Pewin Group chairman Peter Kirigua said the deal ropes in Family Bank, which will facilitate small-scale farmers to acquire tractors from the soon-to-be formed local firm. “Small-scale farmers can now access reasonably priced tractors and enjoy training from Belarusian agricultural experts on equipment use,” he said. Mr Kirigua said the group will partner with local technical and vocational training institutes to train tractor technicians and operators. Belarus’ ambassador to Kenya Dmitry Kuptel said bilateral trade ties between Kenya and Belarus would benefit the people of the two countries. Mr Kirigua and Mr Kuptel spoke at the end of the three-day Belarus National Exposition at KICC. Family Bank chief executive designate Rebecca Mbithi said the bank is prepared to back the process that will see Pewin Group source for the completely knocked down units to be assembled. “Our commitment as a bank is centred on creating lasting financial partnerships with our customers in driving economic growth of our country. “As a Bank, we walk the journey with our clients and seek to promote growth and in turn bring about the transformation of lives,” she said. In 2017, Kenya exported cut flowers and tea to Belarus via proxy markets valued at Sh20 billion while it imported goods worth Sh83.3 million from the eastern European country. Pewin Group also signed a new deal with Belarus firm, BelinterBox, that will see them set up a fish-feed plant to sell products locally and across the region. The development follows a Sh10 billion deal between the Kenyan government and the Polish government intended to supply dairy equipment across the value chain, from farm machinery to processing plants.

Thread starter Kevin85ify
Start date Aug 7, 2019

Kevin85ify

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Kenya: Pewin inks Sh7bn tractor plant deal

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