FARMERS ACCESS TO MECHANISATION EQUIPMENTS FROM AGLEASECO

BY MERCY NAMFUKUWE

AGLEASECO is a Finance Leasing company located in Kabulonga, Bishops Road, DG office Park. The company has people in all the districts and provinces of Zambia, whose main objective is to mechanize Zambian farms and agro - processing business to improve livelihoods and food security.

The Company offers mechanization equipments ranging from tractors, disk Harrows, rippers, irrigation equipment while for agro processing the company offers equipment that include hammermills, oil mills, shellers and animal poultry equipment.

AgLeasCo has been financing individual farmers and agro processors for over 5 years and of this year the company is pleased to announce that it has a financing package for the cooperatives. Here is the breakdown of what a cooperative need to prepare in order to secure financing from AgLeaseCo.

A Registration Certificate: Ensure that your cooperative is officially registered and with a valid Registration Certificate ready to present.

Financial Statements /Book of Accounts (2years): Ensure to gather your financial records, including income statements, balance sheets, and cash flow statements for the past two years. These documents should accurately reflect the cooperative’s financial health.

Bank Statements (2 years): Compile your cooperative’s bank statements for the past two years. This will provide a comprehensive view of your financial transactions and stability.

Document of Authority for Managing Director: Obtain a legal document that authorizes the Managing Director or relevant person to commit the cooperative to legal agreements. This could be aboard resolution or a legal power of attorney.

Signed Resolution by Membership: Organize a meeting with your cooperative’s members and pass a resolution to finance the selected equipment. Ensure the resolution is documented and signed by the required number of members as per your cooperative’s bylaws.

Recommendation from a Traditional Leader: Seek a letter from a recognized traditional leader in your community. This letter should vouch for your cooperative’s reputation and commitment to the community.

Collateral: The only collateral required is the asset being financed. This means that you don’t need to provide additional collateral beyond the equipment or asset you are looking to finance.

To our individual farmers and agro-processors, to be considered for a financial lease by AgLeasCo, an applicant - (individual)must meet the following requirements:

Experience: Minimum of three years of experience in farming and/ or agro-processing.

Documentation: Scanned copy of the National Registration Card (NRC), Scanned copy of the driver’s license of any prospective tractor driver. Photos of main house, farm, fields, farm equipment, relevant assets, livestock, access roads and water sources.

Proof of Land Security: Titled Land –Provide a copy of the Title Deed.

Customary Land: Submit a signed letter from a Traditional Leader.

Rented Land: Provide a copy of the rental agreement between the Land Owner and Tenant.

Scanned recommendation from the Senior Chief, local Area Headman and any other relevant partners.

Once the initial documentation and requirements are submitted, AgLeasCo will provide the following forms that need to be filled out by the applicant and their respective community leaders.

1)     Applicant declaration form.

2)     Credit Reference Bureau consent form.

These requirements ensure that applicants are experienced, have secured land and are supported by their local community, which helps mitigate risks for AgLeasCo.

For more information email sarah@agleasco.com or contact 0769183256.

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