BasiGo Rwanda has received a $225,000 recoverable grant from Ireme Invest. This funding will help upgrade its charging infrastructure for its growing fleet of electric public transport buses in Kigali.
The EV company will also build a charging station to support at least 20 electric buses overnight. The funding comes a year after BasiGo expanded into Rwanda to deliver 200 electric buses using its Pay-As-You-Drive financing model.
In addition, BasiGo recently raised $1.5 million from the United States Agency for International Development (USAID) to expand operations in Rwanda.
In March 2024, the company also secured $3 million in equity funding from CFAO Group. This funding will expand its electric bus production in Kenya and Rwanda.
In her remarks, Doreen Orishaba, Managing Director of BasiGo Rwanda, stated, “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.”
Also Read: Going Green: Promising Future for E-mobility in Kenya as Nairobi Embraces Electric Buses
BasiGo’s Impact in Rwanda
CEO and Co-Founder Jit Bhattacharya said BasiGo’s experience and innovative financing model can help Rwanda transition to fully electrified public transport.
BasiGo introduced Kigali’s first fully electric bus, the R10 Rumuri, in December 2023. This aligns with the government’s initiative to expand Kigali’s public transport fleet.
BasiGo Rwanda is one of nine businesses offering high-potential solutions in Ireme Invest’s investment areas. The Rwanda Green Fund acknowledged BasiGo’s contributions to climate action and sustainable development goals.
As of July 2024, BasiGo’s electric buses in Kigali had served over 300,000 passengers. They generated more than RWF 147 million in fare revenue. BasiGo reported mitigating over 60 tonnes of CO2 and avoiding 26,662 liters of diesel consumption.
In other news, BasiGo launched an electric bus production line at the Kenya Vehicle Manufacturers plant in Thika. This is Kenya’s first specialized assembly line for modern electric buses.