BasiGo gets Sh766mn for electric buses assembly

BasiGo, a leading provider of electric buses in Kenya, has recently secured a $5 million debt facility from a UK investor to accelerate the local assembling of electric buses. This move is expected to solidify BasiGo's position as a front-runner in the shift towards clean mobility in public transport within the region. The partnership between BasiGo and British International Investments (BII) signifies a significant milestone in the clean energy transportation sector. Dimitri Da Gama Rose, Africa Coverage Manager at BII, shed light on the details of the partnership, emphasizing the unique opportunities that BasiGo presents in the market. In a recent interview with CNBC Africa, Dimitri Da Gama Rose highlighted the key points of the investment and the potential impact on the local transportation landscape. BII, as a major player in climate finance on the African continent, recognized BasiGo as a leading fleet operator with 19 buses currently operating in Nairobi, making it the largest fleet in sub-Saharan Africa. The $5 million debt facility from BII will support the rollout of 100 new buses and local manufacturing, underscoring BII's commitment to fostering sustainable transportation solutions. Notably, Nairobi's conducive environment for electric buses, coupled with a high renewable energy grid, has made it an ideal location for the adoption of e-mobility. The $5 million debt facility from BII is poised to propel BasiGo's growth and contribute to the decarbonization efforts within the Kenyan market. Dimitri Da Gama Rose elaborated on the terms of the debt facility, highlighting its focus on driving local assembly and the expansion of BasiGo's fleet. With over 350 deposits already secured from bus operators in Nairobi, the investment is expected to catalyze the shift towards sustainable transportation and align with the government's goals of reducing carbon emissions. As a development finance institution with a substantial investment portfolio in emerging markets, BII has allocated a significant portion of its funds to climate finance. With a focus on supporting innovative models like the pay-as-you-drive system, BII aims to empower startups in the clean energy transportation sector and facilitate their scalability. Looking ahead, the long-term partnership between BII and BasiGo is centered on driving growth and adoption of e-mobility solutions in the region. The pay-as-you-drive model not only benefits consumers but also provides operators with a cost-effective and sustainable alternative to traditional internal combustion engine buses. In conclusion, the $5 million debt facility secured by BasiGo represents a significant step towards advancing clean mobility solutions in Kenya. With the support of BII, BasiGo is well-positioned to lead the way in sustainable transportation and contribute to a greener future for the region.