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.

This investment will fuel BasiGo’s expansion plans to increase electric bus production in Kenya and Rwanda.

The funding comes from a combined effort by CFAO Kenya and Mobility54, CFAO’s venture capital arm dedicated to supporting innovative mobility solutions.
BasiGo says the new funds will accelerate deliveries of their electric buses, for which they already have reservations for 600 units.

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.
“We are confident that electric buses can transform African economies by providing cleaner and more sustainable transportation options.”

The investment aligns with CFAO Group’s commitment to promoting green energy solutions in Africa.
In February 2024, CFAO signed a strategic agreement with the Kenyan government to establish a green energy value chain, encompassing power generation and utilization.
Additionally, CFAO’s Mobility54 subsidiary is actively investing in green mobility startups across East 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.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

You may also like...

© 2021 Empower Africa. All rights reserved.