BasiGo, one of the leading manufacturers of electric buses in Kenya, has received a loan of $10 million from the United States International Development Finance Corporation to fast-track the production of electric buses, which is expected to be instrumental towards attaining Kenya’s green industrialization goals.
This is after the US Ambassador, Meg Whitman, visited the Kenya Vehicle Manufacturers assembly line in Thika. Ambassador Whitman says that the growing relationship between the US and Kenya requires investment that promotes clean energy and sustainable transportation.
“This investment is a shred of the great US-Kenya relationship and our shared commitment to a sustainable future,” said Ambassador Whitman. “By supporting BasiGo, we’re not only promoting clean transportation but also creating jobs and fostering economic growth.”
It now plans to increase production capacity from five to 20 electric buses per month by 2025 and produce 1,000 electric buses in the next three years. According to the expansion plan, it will further create 300 green manufacturing jobs and finally establish Kenya’s lead in clean technology.
“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.”
While it is presently manufacturing its second, BasiGo has already conquered a sizeable proportion of the electric bus market in the region—with over 500 reservations coming from Nairobi bus operators and another 300 from Kigali, Rwanda. It has just assembled its first two E9 Kubwa electric buses in Kenya for the PSV market.
Vibhuti Jain, DFC’s Regional Managing Director for Africa said that the firm stands to support BasiGo’s expansion, adding that the investment supports DFC’s mission of creating jobs, driving economic growth, and improving lives across Africa.
This will also involve local bus operators such as Citi Hoppa, Super Metro, Oma Sacco, and other acquiring electric buses from BasiGo as part of their fleets.”.
BasiGo is here to ensure a revolution in public transportation in Kenya with the clean, affordable, and reliable electric buses that will contribute to a far more sustainable future for the region.