Quipbank Trust Limited and Tata Africa Holdings Limited have partnered to supply farming equipment to Transmara Sugar Company Limited (TSCL). Quipbank through its product dubbed Tinga is leasing 11 units of tractors to Transmara Sugar millers for one year. TSCL has opted for leasing as it new business model 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 growing market demand. This is a significant step towards achieving the group’s declared objective of becoming an emerging market player in the region.
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 Quipbank one stop shop since there’s a provision for variety of equipment from various dealers.
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