RentCo Africa, an asset leasing firm, signed an agreement with West Kenya Sugar Company of Rai Group to rent equipment worth Sh600 million. It will aid the sugar company to boost cane production.
According to RentCo, the machinery comprises heavy-duty tractors, cane loaders and others that will help the sugar firm to ease the process of bulk cane harvesting and transportation.
With the deal, the Rai firm would relieve from the burden of buying and maintaining the equipment. Since its launch, RentCo Africa is leasing services to address the shortage of equipment in sugarcane harvesting and other activities.
According to the BusinessDaily.com, Robert Nyasimi, chief executive, RentCo Africa said, “The transaction was to a tune of 600 million for the financial year 2019-2020.” Amid Covid-19, leasing equipment to agricultural activities is the new norm and RentCo is leading the sector.
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