QuipBank equips Transmara Sugar Company Limited with tractors

There was a Handover of 12 tractors to Transmara Sugar millers, which was held at the Transmara Sugar Company Limited (TSCL) compound in Kilgoris on Thursday 14th April 2016 at 2:00PM.  The tractors were worth Sh50, 000,000.Various media houses were present to cover the story.

The main highlight being the launch of Tractors (Tinga) leasing program across seven countries in Africa. Renting of tractors is now the big thing in the Sugar industry because of its cost savviness and convenience. The lease program has helped companies ease their cash flows.   

The Tinga lease solution program is America’s USAID and OIKOCREDIT supported.

Quipbank Trust Limited and Tata Africa Holdings Limited have partnered to supply farming equipment to Transmara Sugar Company Limited. Quipbank through its product dubbed Tinga is leasing 12 units of John Deere tractors to Transmara Sugar millers. TSCL has opted for leasing them as its new business model is to increase its tractor fleet and escalate the overall growth of its business.

The sugar miller joins other key players that have adopted the assets leasing policy in the quest to strengthen its position in regional growth markets. The move is a reflection of a strategy that focuses on growing the sugar industry to meet the skyrocketing market demand. This is a significant step towards achieving the group’s declared objective of becoming an emerging market player in the region.

TSCL chose the Tinga Lease Solution as it will help them save money and reduce their operations cost by at least 30%.  The tractors’ maintenance will be handled by John Deere while insurance among other services will be handled by Tinga. The leased tractors will reduce the cost of hauling the canes. The Tinga solution shall see the Kenyan sugar industry grow and fill the import quota. With such affordable equipment from Tinga, issues like delayed cane harvesting will no longer be a problem and farmers will benefit greatly.

Upcoming and established industries that engage in large scale production opt for leasing because it helps them obtain mass equipment with ease which in turn eases and accelerates the production process.

Instead of spending lots of time and resources scouting for one type of equipment from multiple organizations, through leasing, one can easily acquire a range of equipment at rental/lease in a one stop shop like QuipBank. This is because there’s a provision for a variety of equipment from various dealers.

For further details and updates please Contact; Jared Oundo, Corporate Communications – VAELL, Email:[email protected], Cell: [phone]/0774408244