BasiGo Ltd., Africa’s leading Electric Bus solution provider, has embarked on a groundbreaking initiative to revolutionize transportation in Kenya. Successfully securing a substantial debt funding of $5 million from British International Investment (BII), the United Kingdom’s development finance institution, BasiGo aims to expedite local assembly operations for electric buses, addressing the rising demand from Kenyan bus operators.
The Catalyst of Financing
BasiGo’s ambitious plans to scale operations and transition Kenya’s public transport from traditional diesel-powered vehicles to state-of-the-art electric buses receive a significant boost with a $5 million investment. This funding, in harmony with the vision of the Africa Green Industrialisation Initiative (AGII), launched at COP28, underscores the importance of sustainable, resilient industries that create jobs, reduce emissions, and enhance biodiversity.
Model of Innovative Financing
Utilizing its groundbreaking Pay-As-You-Drive financing model, BasiGo intends to deploy funds to enable bus operators, facing challenges with high upfront costs, to acquire electric buses. This model represents a crucial step in promoting the widespread adoption of electric buses, ushering in a new era for Kenya’s public transport characterized by sustainability and advanced technology.
BasiGo’s Impactful Electric Buses
BasiGo’s electric buses are not merely modes of transportation; they are sustainable solutions combatting climate change. Each bus mitigates over 50 tonnes of CO2 emissions annually, a significant improvement compared to their diesel counterparts. Supported by BII’s financial backing, BasiGo aims to mitigate an impressive 5 million tonnes of CO2 in Nairobi alone.
The Local Assembly and Green Manufacturing
BII’s debt facility marks a historic achievement, providing pioneering support for electrifying Sub-Saharan Africa’s informal public transport sector. In response to growing demand, locally assembled electric buses will not only meet requirements but also establish an innovative green manufacturing hub dedicated to modern Kenyan-made electric vehicles.
BasiGo’s Achievements and Future Goals
Established in 2021, BasiGo has spearheaded the integration of electric buses into Nairobi’s public transport fleet, boasting 19 operational units—the largest sub-Saharan African assembly. The company has covered over 1 million kilometers, transporting more than 1.2 million passengers and offsetting approximately 500 tonnes of CO2 emissions through its green initiative.
BasiGo extends its commitment to sustainability beyond current achievements. With BII’s support, the company aspires to deploy 1,000 locally assembled electric buses in East Africa within the next three years. Kenya Vehicle Manufacturers, the country’s prominent automotive assembly plant, is already producing the first batch of these buses, marking a significant step towards a greener future for Kenyan public transport.