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From Isaac Anumihe, Abuja
A foreign firm, Hello Tractor, has pledged to invest $1 million in tractors to assist small- scale farmers mechanise their operations. Hello Tractor would provide loans for tractor-purchasing which would be repaid from revenues earned by leasing them to local farmers.
Speaking at the unveiling of the pay-as-you-go tractor-financing scheme for agripreneurs, in Abuja, Senior Vice President, Africa Programme, Adesuwa Ifedi, said that already the programme has enabled tractor purchases in the states of Nasarawa, Abuja and Enugu.
“These purchases could make tractors accessible to thousands of smallholder farmers via the increasingly popular Hello Tractor leasing platform sometimes referred to as Uber for tractor. “Hello Tractor offers software and tracking devices that allow farmers to book tractor services from local tractor owners via a mobile phone app.
“The pay-as-you go model provides financing for entrepreneurs who want to create jobs by capitalising on the demand for tractor services on Africa farms, but who lack traditional forms of collateral.
