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BasiGo Secures $10 Million Loan to Electrify Kenya’s Public Transport
BasiGo, a leading electric bus manufacturer, has secured a $10 million loan from the United States International Development Finance Corporation (DFC).
This funding is intended to significantly increase BasiGo’s fleet of electric buses and accelerate the country’s transition away from diesel-powered vehicles.
BasiGo To Electrify Kenya’s Public Transport
The announcement was made during a visit to the Kenya Vehicle Manufacturers (KVM) assembly line in Thika by U.S. Ambassador Meg Whitman.
Ambassador Whitman emphasized the growing US-Kenya partnership and the United States’ commitment to supporting Kenya’s transition to clean energy.
“This investment is a testament to the strong US-Kenya relationship and our shared commitment to a sustainable future,” said Ambassador Whitman. “By supporting BasiGo, we are not only promoting clean transportation but also creating jobs and fostering economic growth.”
These 9-meter electric buses are specifically designed for the Kenyan public service vehicle (PSV) market.
BasiGo Electric Buses give owners freedom from rising fuel prices and better reliability. For passengers, BasiGo E-Buses offer a radically new bus experience, one that is quiet, connected, and clean.
DFC Investment In BasiGo To Reduce Greenhouse Gas Emissions
The company has already received over 500 reservations from bus operators in Nairobi, as well as 300 from Kigali, Rwanda, indicating a strong regional demand for electric buses.
The DFC loan will enable BasiGo to significantly increase its production capacity, from five electric buses per month to 20 buses per month by 2025.
The company aims to produce a total of 1,000 electric buses over the next three years.
Also Read: BasiGo Launches Kenya’s First Specialized Assembly Line for Modern Electric Buses
It also aligns with Kenya’s National Climate Change Action Plan by helping reduce greenhouse gas emissions.
“This funding is a game-changer for BasiGo,” said Jit Bhattacharya, CEO and Co-Founder of BasiGo. “It will allow us to scale up our operations, create more jobs, and accelerate the adoption of electric buses in Kenya. We are proud to be at the forefront of Kenya’s green mobility revolution.”
BasiGo is powering a new future for public transport in Kenya, one that is more comfortable for passengers, more profitable for bus owners, and cleaner for the planet.
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