Kenyan E-Bus Startup BasiGo Secures USD 3 M Equity Investment

BasiGo has secured USD 3 M worth of equity funding from CFAO Group (CFAO), one of the leading players in mobility, healthcare, consumer, infrastructure business in Africa, wholly owned by Toyota Tsusho Corporation in Japan. The investment, split between CFAO Kenya and Mobility54, the corporate venture capital arm of CFAO will go towards accelerating the scale-up of BasiGo’s manufacturing and delivery of electric buses in Kenya and Rwanda.

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.