As part of its CSR (Corporate Social Responsibility) approach, the Commercial Bank of Kenya (KBC) has just signed an agreement with the Nairobi-based mobility start-up BasiGo to pre-finance the purchase of electric buses. The partnership aims to promote environmentally friendly mobility in Kenya. The financial group will guarantee 90% of the start-up’s electric bus purchases in order to promote ecological mobility in Kenya.
The partnership is aimed at helping public transport reduce greenhouse emissions and enhance the ability to respond to climate change through adaptation and mitigation measures. Customers will have access to embedded tracking, pre-installed fleet management gadgets, and insurance financing. The two firms have said under the asset finance arrangement, Public Service Vehicle owners will have an extended repayment period of 36 months. BasiGo electric buses are available for purchase on a blended Sale/Operating lease model. The company will also provide battery charging, service, and maintenance stalls.