Hello Tractor Financing for launch April 28 in Abuja

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(Nigeria) Minister of Agriculture and Rural Development Dr. Mohammad Abubakar will on April 28, 2022, unveil the Hello Tractor innovative “Pay-As-You-Go (PAYG) tractor financing for increased Agricultural Productivity and Job Creation in Nigeria”.

The main launch scheduled to hold at the International Conference Centre Abuja, follows an earlier soft launch which witnessed the presentation of seven tractors to beneficiaries across three locations in the country (Nasarrawa, Abuja and Enugu states).

The PAYG tractor financing is an innovation to support smallholder mechanisation, food security and rural entrepreneurship in the country. The initiative is facilitated by Hello Tractor in partnership with Heifer International.

Hello Tractor is an award-winning agricultural technology and social enterprise company with the vision to transform the agricultural ecosystem in Africa by creating efficiencies that generate inclusive growth, reduce poverty and build stronger and stable economies. Through technology, the company connects tractor owners to smallholder farmers in Sub-Saharan Africa through a farm equipment sharing application that bridges the gap between traditional farming and more technologically advanced approaches.

Heifer International, a non-profit organisation on a mission to end global hunger and poverty, is providing funding for the project through its AyuTe Africa Challenge Competition platform as part of its strategic goal of assisting over one million farmers in Africa reach a sustainable living income by year 2030.

The innovative PAYG product will provide agric-entrepreneurs and smallholder farmers access to tractor services at a very affordable rate through asset financing, to cultivate large expanse of their farm lands thus driving increased productivity and income, sustainable employment, food security and positive impacts on farmers livelihood.

Expected at the event are the CEO of Heifer International, Mr. Pierre Ferrari, Chairman and CEO of Hello Tractor, Jehiel Oliver, a member of the Board of Directors of Heifer International, Mr. Randi Hedin and Heifer’s Senior Vice President, Africa Programmes, Adesuwa Ifedi. Others are State Commissioners of Agriculture, key government functionaries and top media executives as the event showcases agric-entrepreneurs who have been provided with accessible financing under a pay-as-you-go structure. The launch will also highlight the progress of the smallholder farmers who have benefited from the tractors in their clusters and have begun using the tractor services.

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