BasiGo has secured Kes 397.05 million from Toyota’s parent company, CFAO Group, split between CFAO Kenya and Mobility54, the corporate venture capital arm of CFAO.
BasiGo Co-Founder and CEO Jit Bhattacharya said the company plans to use the fund to expand its manufacturing and delivery capabilities in Kenya and Rwanda.
“We are honored to have CFAO as our partner in electrifying African public transport. As a leader in Africa's energy and mobility industry, CFAO recognizes the extraordinary opportunity for electric mobility to transform African economies.”
“With CFAO’s strength and experience in the mobility industry. Customers/operators can trust that BasiGo is ready to deliver competitive, high-quality E-Bus solutions at scale.”
CFAO, which operates in over 40 countries globally, owns Africa’s leading automotive distribution network, such as Toyota Kenya.
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The group is already active in the e-mobility industry in East Africa. Early this year, CFAO launched the first dealership for BYD electric cars in Kigali, Rwanda.
Likewise, Mobility54 invests in e-mobility start-ups.
In February 2024, BasiGo completed the production of its first locally assembled electric buses.
The vehicles were assembled at the Kenya Vehicle Manufacturers (KVM) factory in Thika, where CFAO Motor Kenya, an affiliate company of CFAO Kenya, holds an ownership stake.
BasiGo aims to deliver 1,000 locally assembled e-buses in the next three years, creating 300 green manufacturing jobs in Kenya.
