This is the first time that USAID has awarded a grant specifically to support electric bus development in East Africa, and it is a sign of the growing recognition of the potential of electric vehicles to help the region reduce its reliance on fossil fuels and improve air quality.
BasiGo plans to deliver 200 electric buses to Rwanda before the end of 2024 as part of a commercial partnership with the Rwandan company AC Group.
The fleet will be operated mainly by public transport operators Kigali Bus Service, Royal Express, and Volcano. BasiGo will also provide them with all recharging and maintenance services.
The grant from USAID will be used to support the pilot testing of the electric buses in Kigali and help BasiGo refine its business model and develop financing solutions for bus operators.
The expansion of BasiGo’s operations to Rwanda is a significant step towards the electrification of public transport in East Africa.
It is also a testament to the company’s commitment to making electric buses affordable and accessible to transport operators in the region.
The success of the startup’s electric bus operations in Rwanda could pave the way for the wider deployment of electric buses in other East African countries.
This is expected to have a significant positive impact on the region’s environment and public health.
Egypt’s T-Vencubator, a prominent venture capital firm and incubator, has unveiled its initial investment program, which aims to back five startups by 2025.
Founded in 2018, Raise is on a mission to help African startups to manage equity, seed rounds, legal compliance, and close deals faster.
The strategic funding is set to accelerate Money Fellows’ mission of transforming traditional savings and credit associations through its innovative tech-driven platform.
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