Deere (NYSE:DE) is looking to extend more credit to African farmers who have traditionally made purchases in cash amid a “dramatic shift” in mechanization as the continent seeks to boost food production.
The company lends as much as $70M to individual African farmers, said Antois van der Westhuizen, financial director for sub-Saharan Africa. “The more we finance, the more we can mechanize, so the higher we can go the better.”
|About: Deere & Company (DE)|By: Yoel Minkoff, SA News Editor