In a bid to support SMEs and small scale farmers’ access to farm implements and transport services, Regional Leasing Firm, Vehicle And Equipment Leasing Limited (VAELL) is set to launch its agricultural arm dubbed TingA, in Tanzania as regional expansion strategy journey gets underway. The firm said in a statement sent to the newsroom that the move has been necessitated by various requests for farm machinery and transport services in East Africa’s largest nation. VAELL Group launched TingA in Kenya in last quarter of 2015 and has been vital in helping to boost productivity and curbing post-harvest losses in various parts of Kenya through their mechanization services and farmers training which have seen 300% increase in harvests and 90% decrease in post-harvest losses.
Its mechanization efforts in Kenya have proved to be a success triggering the firm to replicate the model in Tanzania, after which it plans to cascade it to other countries including Zambia and DRC. The new branch will cost the lessor one billion Tanzanian shillings (Tsh 1,086,707,159.00/Kes. 50 million) in the first phase. The launch of branch will mark a significant milestone in the group’s development plans in Africa.
VAELL’s Managing Director, Ms. Bertha Mvati, said, “ entry of will help farmers in Tanzania access different types of equipment and services ranging from agricultural mechanization and transport. Tanzania produces most of the regions onions, maize, oranges, cassava, and millet among other crops. The agriprenuers face a lot of challenges while preparing their farms and transporting produce due to inadequate machinery and implements. In addition to the Tanzania expansion, we are set to open more tractor and transport hubs to support this crucial sector of the East Africa’s economy”.
Statistics indicate that due to lack of access to modern farm implements, most farmers in the region use outdated farming methods and therefore deterring them from getting proper returns on their investments. Good harvests start with proper land preparation and proper planting, if this is not done correctly, then good harvests will always remain a pipe dream. With availability of mechanization services things are set to get better.
Ms. Mvati added, “ Through this, we seek to support the realization of goal number two (2) of the United Nation’s Sustainable Development Goals (SDGs) that aims at ending hunger , achieve food security and improved nutrition and promote sustainable agriculture. For us to do this well we will work together with the relevant stakeholders. War on hunger requires joint effort and cooperation between the public and private sector. We can’t leave that to the governments alone. We have to play our parts in respective industries and combined efforts.”
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Vehicle and Equipment Leasing Limited (VAELL) is the market leader in asset leasing, maintenance and consulting in Eastern and Central Africa region. It has presence in the auto mobile, healthcare, mining, agricultural, telecommunication, construction, gas and oil sector. It has managed to diversify and expand its portfolio by offering customized solutions to suit every client’s requirement and need. VAELL, the leading provider of integrated leasing services for a broad range of movable assets and machinery across the region, has geographical coverage with fully fledged subsidiaries in Uganda, Rwanda, Tanzania and Zambia. The leasing firm has a correspondent relationship with other leasing companies in South Africa and India. It facilitates clients with vehicles and machinery throughout the region from any one country office across its network.
In 2014 VAELL won the award for the Best in Transport, in the Top 100 KPMG/Business Daily survey, and 2015 shot into Club 101 in the same survey. It has scooped 14 awards in the last 5 years. The leasing market leader was named in 2018 by East African Business Council Tanzania as the best East African Company in The Service Sector. The lessor has also been named in the South Africa’s Titan Building Nation awards in the outstanding achievement category.
VAELL was recently hosted by Nairobi Securities Exchange (NSE) onto its premium incubation and acceleration programme, Ibuka. VAELL also owns Quipbank Trust Limited, equipment sharing platform and TingA, East Africa’s largest tractor share platform.