BasiGo Rwanda gets $225k from Rwanda Green Fund for upgrade
TLDR
- BasiGo Rwanda secures RWF 300 million grant from Ireme Invest for enhancing electric bus charging infrastructure in Kigali.
- Funding to upgrade charging infrastructure and establish a station for 20 electric buses, supporting the company's growth.
- Kenyan EV startup BasiGo expands into Rwanda, planning to deliver 200 electric buses with a Pay-As-You-Drive model.
BasiGo Rwanda has received a RWF 300 million ($225,000) recoverable grant from Ireme Invest, the Rwanda Green Fund’s green investment facility.
The funding will help upgrade its charging infrastructure for its expanding fleet of electric public transport buses in Kigali. The EV company will also establish a charging station capable of supporting 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.
Key Takeaways
The global momentum toward the acceptance of electric vehicles (EVs) is evident, with over 11 million registered EVs worldwide in 2020, and projections anticipate a significant increase to 145 million by 2030. Despite this, progress in Africa has been comparatively slower but recent developments indicate a potential shift in this landscape. Initiatives by EV startups like BasiGo contribute to the growing interest in electric mobility. Following its move into Rwanda, BasiGo raised $1.5 million in funding from the United States Agency for International Development (USAID) to expand its operations in the country. In March 2024, it also secured $3 million in equity funding from CFAO Group to expand its electric bus production in Kenya and Rwanda.
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