AMZ launches the Makina Lease Product
AMZ are delighted to be adding the Makina Lease Product to their portfolio, which will enable us to fully support our small holder farmers by allowing farmers to lease farming equipment.
Clients with agriculture as their main source of livelihood form a large portion of our rural portfolio, which is AMZ’s majority client base. Due to the limited resources and financial contraints these farmers have, most are unable to purchase outright productive farm equipment and rely heavily on manual labour for the cultivation of their fields, a process that is rudimentary and inefficient. By providing clients access to leasing agricultural equipment, the Makina Lease Product has the potential to transform livelihoods through boosting agricultural productivity and household incomes.
AMZ’s CEO, Susan Chibanga, says “The strategic focus for Agora Microfinance Zambia, has been to serve the needs of the rural poor by providing them with appropriate financial products and services. In facilitating access to the farm equipment at affordable rates, partnerships with agro equipment suppliers and insurance companies has been a necessity. We are elated with this achievement”.
Keeping the needs of their clients at the forefront, AMZ is confident that this product will provide the following benefits:
Access to quality equipment, previously unafforded
Leasing affords access to more working capital as no cash up front is required
Affordable and convenient financing terms with client-tailored monthly repayments
Increased productivity, income and improved well-being over time