BasiGo Rwanda has secured a RWF 300 million ($225,000) recoverable grant from Ireme Invest, a part of the Rwanda Green Fund, to enhance its charging infrastructure for its growing fleet of electric public transport buses in Kigali. With this funding, BasiGo will also set up a charging station that can support at least 20 electric buses overnight.
This funding comes a year after the Kenyan EV startup expanded into Rwanda, aiming to deliver 200 electric buses to transport operators using BasiGo’s Pay-As-You-Drive financing model.
Following its move into Rwanda, BasiGo raised $1.5 million from the United States Agency for International Development (USAID) to boost its operations in the country. Additionally, in March 2024, the company secured $3 million in equity funding from the CFAO Group to expand electric bus production in both Kenya and Rwanda.
Doreen Orishaba, Managing Director of BasiGo Rwanda, highlighted the success of their electric buses, stating, “BasiGo electric buses have over the last seven months of operation demonstrated the new standard for safe, comfortable, and low-carbon public transportation solutions and helped to reduce emissions.”
Jit Bhattacharya, CEO and Co-Founder of BasiGo, emphasised the company’s readiness to aid Rwanda’s transition to fully electrified public transport, thanks to their experience and innovative financing model.
In December 2023, BasiGo introduced the R10 Rumuri, Kigali’s first fully electric bus with a capacity of 70 passengers, supporting the government’s efforts to expand the city’s public transport fleet.
BasiGo Rwanda is among nine innovative businesses offering high-potential solutions in three of Ireme Invest’s focus areas. The Rwanda Green Fund acknowledged BasiGo’s contribution to the country’s climate action and sustainable development goals.
As of July 2024, BasiGo’s electric buses in Kigali had served over 300,000 passengers, generating more than RWF 147 million in fare revenue for operators. The green impact included mitigating over 60 tonnes of CO2 and avoiding the consumption of 26,662 litres of diesel.
In other news, BasiGo Kenya recently launched an electric bus production line at the Kenya Vehicle Manufacturers plant in Thika, marking the country’s first specialised assembly line for modern electric buses.
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