CFAO invests in electric bus company BasiGo

Kenya-based electric mobility company BasiGo has announced a $3 million equity investment.

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Kenya-based electric mobility company BasiGo has announced a $3 million equity investment split between CFAO Kenya and Mobility54, CFAO's corporate venture capital arm.

A subsidiary of Toyota Tsusho Corporation, CFAO operates in 40 African countries and is an established player in sectors such as mobility, renewable energy, consumer and healthcare.

BasiGo said in a statement, "We are proud to welcome CFAO to the BasiGo mission. BasiGo and CFAO are committed to building a complete green value chain in Africa, from renewable energy generation to clean, electric vehicles providing low carbon transport to Africa’s growing cities. With the backing of a market leader like CFAO, our customers and partners can trust that BasiGo is ready to deliver high quality vehicles and services at scale."

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