RentCo East Africa, the fastest growing independent leasing company in Sub-Saharan Africa, deals in lease solutions around movable asset access. It relentlessly focuses on innovation which involves understanding a customer’s specific needs, and then, tailoring a solution that best fits them.
Leasing provides a creative mode of accessing assets without the burden of ownership which usually demands large initial capital outlays In agriculture, RentCo has raised the game in a refreshingly inspiring way to significantly add value for its customers.
The firm is helping Kenyan farmers mechanise agriculture without spending a fortune on farm equipment. The firm is promoting the leasing of agricultural equipment as a sure way to commercialise peasant farming and improve yields.
According to RentCo’s Chief Operating Officer (COO) Henry Emuye, RentCo had to critically interrogate some of the challenges and inhibitors in effective deployment of equipment in agriculture.
The solutions we are offering have been carefully craled with complementary partners who have demonstrated excellence in their areas of expertise” Henry emphasized.
“Leasing has worked for government, which has leased vehicles and the concept can work for agriculture and other sectors,” said Chief Operating Officer (COO) Mr Henry Emuye. “Leasing makes
equipment available without incurring the amount it costs if bought outright.
According to him, mechanization of agriculture at large scale reduces cost of production and boosts farm yields. RentCo is therefore working with other stakeholders in the sector to ensure that this is achieved.
For instance, RentCo has been contracted by EABL, to mechanize sorghum farming for its Keg beer production in Kisumu.
“We finance the equipment by providing a lease with a monthly rental, instead of buying which is certainly expensive, “Henry explained.
RentCo therefore continues to develop solutions that not only leverage their lease model, but are tailored to mitigate any risks that are faced along the operational execution. To this effect, RentCo now boasts a partnership with some of the leading providers in all key sectors.
A case in point is the Diageo sorghum project. Diageo provides the off take contract, John Deere provide the equipment and service and maintenance competence, Agrimech provide the agronomical services while RentCo provides the lease platform where all the required equipment is held. In this scenario, the customer now accesses a complete product which makes the venture not only more beneficial but also sustainable
RentCo is also working with the East African Grain Council to provide leasing solutions in storage of agricultural produce like maize. This controls losses and keeps produce for longer, thus promoting food security in the country.
The company is also into energy, medical equipment leasing, transport and construction, and as a result ensures spreading of cost over many years making it cheap and manageable to produce and invest.
Mr Emuye said RentCo aims at expanding its trade in the region and already has an office in Uganda and it aims at starting an office in Tanzania.