BasiGo, Kenya’s Electric Bus solutions provider, has secured $5 million in debt funding from British International Investment (BII) through its Climate Innovation Facility to accelerate climate innovation in emerging markets.
BasiGo, a leader in the electric bus sector, plans to use the investment to scale the local assembly of electric buses in response to growing demand from Kenyan bus operators.
The goal is to transition Kenya’s public transport from diesel-powered vehicles to contemporary electric buses.
In addition to the BII funding, BasiGo received a $1.5 million grant from USAID for an Electric Bus Pilot Program in Rwanda.
BasiGo’s innovative Pay-As-You-Drive financing model allows bus operators to acquire electric buses without upfront costs. This model aligns with BII’s commitment to sustainable industries, job creation, emissions reduction, and biodiversity enhancement under the Africa Green Industrialisation Initiative (AGII).
BII’s Managing Director for Africa, Chris Chijiutomi expressed enthusiasm for the partnership, emphasizing BasiGo’s potential to mitigate 5 million tonnes of CO2 in Nairobi alone.
He noted, “BII’s Climate Innovation Facility aims to scale impactful technologies for positive transformations in African communities.”
Jonathan Green, BasiGo’s Co-founder and Chief Financial Officer (CFO), thanked BII for its support, highlighting the shared commitment to scalable climate solutions in Africa.
“The electric buses in Kenya, powered by renewable energy, promise independence from fuel imports, cleaner air, affordable transport, and a significant reduction in CO2 emissions.”
Established in 2021, BasiGo leads in introducing electric buses to Nairobi’s public transport fleet, boasting the largest fleet in sub-Saharan Africa.
The debt facility from BII is groundbreaking, supporting the electrification of the informal public transport sector in Sub-Saharan Africa. The locally assembled electric buses financed by this facility will establish a green manufacturing hub for modern electric vehicles in Kenya.
“BasiGo’s sustainability commitment is evident as the first batch of locally assembled electric buses enters production at Kenya Vehicle Manufacturers. With over 350 deposits from Nairobi bus operators, BasiGo aims to deploy 1,000 locally assembled electric buses in East Africa over the next three years, making a substantial contribution to the region’s green transportation landscape.”