Kenya: Proparco backs electric bus company
Proparco has completed an investment in BasiGo, a Nairobi-based e-mobility start-up.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
French development finance institution Proparco has completed an investment in BasiGo, a Nairobi-based e-mobility start-up providing electric bus solutions for public transport operators in Kenya and Rwanda.
BasiGo currently has 100 electric buses deployed across Kenya and Rwanda. The company locally assembles electric buses, develops and operates charging infrastructure, and partners with bus operators to offer a cost-effective electric alternative to diesel for mass public transport in African cities.
Proparco’s investment in BasiGo forms part of the AFD Group’s wider drive to deliver low-carbon urban mobility. The Group commits around €1 billion per year to transport and mobility worldwide.
“By supporting BasiGo, we are helping to unlock a new generation of clean, reliable mass public transport solutions for tens of thousands of passengers in Kenya and Rwanda, and to scale this solution in other African cities,” said Jean Guyonnet-Dupérat, regional director for East Africa at Proparco.
Jit Bhattacharya, CEO and co-founder of BasiGo, stated, “Proparco’s investment is a powerful endorsement of the future we are building for African cities. Since 2021, BasiGo has proven that electric buses deliver stronger economics for operators while avoiding CO₂ emissions and delivering a comfortable experience for passengers. It is a strong validation of our model and a catalyst for the next phase of growth.”
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now