BasiGo, a leading East African electric mobility company, announced today it has secured $3 million in an equity funding round led by CFAO Group. This latest investment brings BasiGo's total funding to $9.5 million, further solidifying the company's position as a key player in the region's transition to clean transportation.
BasiGo, founded in Kenya in November 2021, has established itself as a pioneer in providing electric bus solutions tailored to the East African market. The company offers 25 and 36-seater electric buses with a range of 250 kilometers, addressing the environmental concerns associated with traditional diesel-powered public transport.
"We are proud to announce this new investment from CFAO Group, a partnership that underscores our shared vision for a comprehensive green energy value chain in Africa," said a BasiGo spokesperson. "This funding will fuel our continued expansion and empower us to deliver cleaner, more sustainable public transport solutions across East Africa."
Recognizing the cost barrier associated with electric vehicles, BasiGo implemented a unique financing model. This model allows for the purchase of electric buses at a comparable price point to diesel alternatives, with the remaining balance covered through usage-based subscription fees. This innovative approach makes electric buses a more attractive option for public transport operators.
BasiGo's commitment to clean mobility extends beyond Kenya. In 2023, the company established BasiGo Rwanda Ltd., a subsidiary dedicated to electrifying Rwanda's public transport system. This initiative aims to tackle not only environmental challenges but also the disruption caused by rising fuel costs that have impacted public transport services in the country.
BasiGo partnered with AC Mobility, a Rwandan leader in smart transport solutions, to leverage its expertise and accelerate Rwanda's transition to electric mobility. The partnership includes a pilot program launched in October 2023, deploying the first batch of electric buses for testing with select Kigali transport operators. To ensure affordability, BasiGo offers a "Pay-As-You-Drive" financing scheme, which has garnered significant interest from potential partners.
BasiGo's continuous innovation and strategic partnerships position the company as a frontrunner in East Africa's electric bus revolution. Their focus on affordability and sustainability paves the way for a cleaner and more efficient future for public transportation in the region.
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