BasiGo, a Kenyan electric vehicle (EV) start-up, has received Ksh.766 million ($5 million) from British International Investment (BII) to deliver 100 buses in the country.
The capital is from the Climate Innovation Facility of the British development finance institution, which accelerates climate innovation in emerging markets.
Co-founder and chief financial officer of BasiGo Jonathan Green said the money will boost their efforts to transform the public transport sector by introducing clean and environmentally friendly energy on Kenyan roads as they seek to turn Africa into a green powerhouse.
He said the buses will be delivered through the start-up’s Pay-As-You-Drive financing model, which enables bus operators to acquire electric buses without paying the high upfront cost.
“Because electric buses in Kenya are powered by the country’s abundance of renewable energy, electrification of public transport in Kenya holds transformative potential,” said Green.
“Electric buses promise freedom from fuel imports, cleaner air, modern and affordable transport for the general public, and significant impact in lowering transport CO2 emissions.”
The EV bus company was founded in 2021 and rolled out its first vehicle in March 2022.
In November of the same year, they secured $6.6 million (Ksh.804 million at the time) from Mobility54, a venture capital (VC) arm of Toyota Tsusho, to begin the commercial delivery of locally manufactured electric buses and charging infrastructure.
In 2022 alone, BasiGo received $10.9 million (Ksh.1.7 billion at current exchange rates) in total funding.
The company says it has delivered 19 electric buses to public transport operators in Nairobi and hopes to have at least 1000 electric buses deployed in Kenya, Uganda and Tanzania by the end of 2025.
Source: Citizen Digital
