Kenyan E-Bus Startup BasiGo Secures USD 5 M Debt Facility To Scale

Kenyan electric bus solutions startup BasiGo has secured a USD 5 M debt facility from British International Investment (BII), the UK’s development finance organization, for delivery of 100 locally-produced electric buses. The funding comes from BII’s Climate Innovation Facility, a catalytic program for accelerating climate innovation in emerging markets. The investment will be used to scale local assembly of electric buses to cater to the rapidly growing demand from bus operators in Kenya.

BasiGo provides state-of-the-art electric buses along with charging and maintenance services for bus operators, making these vehicles affordable through a financing model that allows operators to pay for the battery and charge separately from the bus through a pay-as-you-go financing arrangement. The buses will be delivered through BasiGo’s pay-as-you-drive financing model, which enables bus operators to acquire electric buses without incurring the high upfront cost. Consequently, BII’s financing support will be crucial in transitioning Kenya’s public transport from diesel-powered vehicles to modern electric buses.