New Investments
Kenyan Electric Bus Startup BasiGo Secures $3 Million Funding for East Africa Expansion
BasiGo, a Kenyan electric mobility company, has secured KSh396 million ($3 million) in equity funding from CFAO Group.
The funding comes from a combined effort by CFAO Kenya and Mobility54, CFAO’s venture capital arm dedicated to supporting innovative mobility solutions.
BasiGo aims to deliver 1,000 electric buses assembled locally within the next three years. This ambitious plan is expected to create 300 long-term manufacturing jobs in Kenya.
“This funding round represents a significant step forward in our mission to expand electric mobility across Africa,” said Jit Bhattacharya, BasiGo’s Co-Founder and CEO.
The investment aligns with CFAO Group’s commitment to promoting green energy solutions in Africa.
CFAO’s dedication to electric mobility extends beyond financial investment. In January 2024, CFAO Mobility Rwanda launched the first BYD electric car dealership in Kigali, marking a first for East Africa.
BasiGo has already made significant strides in the Kenyan electric bus market. As of March 2024, their existing fleet has covered over 1.5 million kilometers, transporting more than 2.1 million passengers and contributing to a reduction of approximately 680 tonnes of greenhouse gas emissions.
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