NewTech Friday : Hello Tractor – Promoting tractor co-sharing throughout Africa
Hello Tractor in Kenya won the LHOFT 2022 Catapult Inclusion Africa Program. James Goode, its CCO, tells us more about this pay-as-you-go loan technology finance company that unlocks low risk, lower-cost financing for rural entrepreneurs while de-risking the creditor through tractor investments into pre-booked assets.
Hello Tractor in Kenya won the LHOFT 2022 Catapult Inclusion Africa Program. James Goode, its CCO, tells us more about this pay-as-you-go loan technology finance company that unlocks low risk, lower-cost financing for rural entrepreneurs while de-risking the creditor through tractor investments into pre-booked assets.
James, before we get started, let's do a video pitch for our very busy readers who don't have time to read. Can you introduce Hello Tractor in less than a minute?
What led to the creation of Hello Tractor?
We wanted to make a real impact on the smallholder segment of African agriculture. We quickly identified a lack of mechanization as central to this. A tractor does the work of 40 people at half the price and creates up to three times greater yield. And yet the rate of mechanization in Africa lags significantly below the global average. So when we saw this data, we realized that we needed to invest our resources so as to be on the right side of history.
Could you present Hello Tractor’s offer?
Our Farmer Booking app is a marketplace for agents using the Hello Tractor app to book services on behalf of farmers within their community.
The Tractor Owner app enables owners to manage their farm equipment, operators and bookings through Hello Tractor’s IoT fleet management solution.
Hello Tractor and select financing partners also extend credit to our ecosystem through Pay-As-You-Go Tractor Financing. We use SaaS and IoT to de-risk.
What's coming next for Hello Tractor?
Since winning the Catapult 2022, we have been 100% pushing to grow our business in Uganda and Nigeria. More countries are being added to the platform as we speak.
As a result of the enormous global push toward climate change initiatives, we have provided a number of new climate specific tractor implements that reduce carbon emissions. We are now aggressively pursuing the positioning of these implements in locations where they can be accessible to our customer base.
Leverage community expertise to redefine finance
Our communities cover diverse topics such as digital transformation, SME finance, or Embedded insurance, providing a platform to learn from industry experts and peers.