Electric bus startup BasiGo has secured a $5 million investment from British International Investment (BII) to accelerate the delivery of 100 electric buses in Kenya. The funding, sourced from BII’s Climate Innovation Facility, will support BasiGo’s efforts to scale the local assembly of e-buses and expand their presence in Kenya’s public transport sector.
BasiGo’s innovative Pay-As-You-Drive financing model will be instrumental in facilitating the deployment of these electric buses, enabling bus operators to acquire these eco-friendly vehicles without incurring the substantial upfront costs.
“We are delighted to receive this catalytic financial support from BII,” remarked Jonathan Green, BasiGo’s co-founder and chief financial officer. “This investment underscores our shared commitment to developing scalable climate solutions in Africa.”
Green further emphasized the transformative potential of electric buses in Kenya, highlighting their reliance on the country’s abundant renewable energy sources. “Electric buses offer liberation from fuel imports, cleaner air, modern and affordable transportation for the general public, and a significant reduction in transport CO2 emissions,” he stated.
Founded in 2021, BasiGo has pioneered the introduction of electric buses into Nairobi’s public transport fleet. With 19 e-buses already deployed to public transport operators in Nairobi, BasiGo currently operates the largest fleet of electric buses in sub-Saharan Africa.
“BII’s Climate Innovation Facility was specifically designed to support the scaling of impactful, cutting-edge technologies that have the potential to transform the lives of people and communities in Africa,” commented Chris Chijiutomi, Managing Director and Head of Africa at BII.
BII’s debt facility marks a significant milestone, becoming the first of its kind to support the electrification of the informal public transport sector in Sub-Saharan Africa. Notably, BII also has an indirect exposure to BasiGo through its investment in Novastar Fund II.
This investment from BII serves as a testament to BasiGo’s commitment to driving sustainable transportation in Kenya and its potential to positively impact the environment and the lives of Kenyans. With the support of this funding, BasiGo is poised to further expand its fleet of electric buses, contributing to a cleaner and more sustainable future for Kenya’s public transport sector.
