BasiGo, a Kenyan startup specializing in electric bus solutions, has secured a substantial $3 million investment from the CFAO Group, aimed at amplifying its production capacities in Rwanda and Kenya.
This infusion of capital stems from the corporate venture capital arms of CFAO, namely Mobility54 and CFAO Kenya, signifying a concerted effort to propel BasiGo’s innovative endeavors forward.
BasiGo’s contemporary electric buses not only offer cutting-edge transportation solutions but also encompass comprehensive maintenance and charging services for bus operators. Moreover, the company’s adoption of a pay-as-you-go financing model facilitates accessibility, allowing operators to bifurcate payments for the battery and charging infrastructure from the bus itself.
Jit Bhattacharya, CEO and co-founder of BasiGo, lauded CFAO’s recognition of the transformative potential of electric mobility in African economies. This investment not only validates BasiGo’s vision but also fortifies its position as a pioneering force in the region’s sustainable transportation landscape.
Akira Wada, Managing Director of CFAO Kenya, echoed this sentiment, expressing optimism for the future trajectory of the partnership. He emphasized CFAO’s dual commitment to advancing the electric vehicle sector while fostering a resilient green energy ecosystem that resonates positively with communities across Africa.
BasiGo’s recent milestone of successfully developing its inaugural domestically manufactured electric bus in February underscores its dedication to localized production. With ambitious plans to manufacture 1,000 electric buses within the next three years, bolstered by a preceding $5 million funding round in December 2023, BasiGo emerges as a frontrunner in driving sustainable mobility solutions in the region.
