French development finance institution Proparco has announced a strategic investment in BasiGo, a Nairobi-based e-mobility start-up providing electric bus solutions for public transport operators in East Africa.
BasiGo has emerged as a leader in electric bus mobility in Africa, with more than 100 electric buses already deployed in Kenya and Rwanda.
In a public notice dated November 26, BasiGo reported that the deal is key to helping Kenya resolve its transport challenges while reducing carbon dioxide emissions.
Boost for Kenya
Jim Bhattacharya, CEO and Co-Founder of BasiGo, stated that Proparco’s investment is a powerful endorsement of the future that the company is building for African cities.
“It is a strong validation of our model and a catalyst for the next phase of growth: scaling local assembly, expanding our charging network, and accelerating our Road to 1000 electric buses,” Bhattacharya stated.
Bhattachrya added that since 2021, BasiGo has proven that electric buses deliver stronger economics for operators while avoiding CO2 emissions by an estimated 70-90% compared to diesel buses.
The CEO also stated that, through BasiGo, road safety has improved, and the public benefits from reduced air pollution.
On his part, Jean Guyonnet-Dupérat, Proparco’s Regional Director for East Africa, also pointed out the strategic importance of Proparco’s investment in BasiGo.
“By supporting BasiGo, we are unlocking a new generation of clean, reliable mass transport for tens of thousands of passengers in Kenya and Rwanda, which is paving the way for similar solutions in other African cities. BasiGo’s locally assembled buses cut emissions, improve air quality, and create jobs—fully aligned with Proparco’s mandate and the Paris Agreement.”
Key BasiGo Impact Highlights
BasiGo stated that its operations have made significant impact since its launch, with over 100 electric buses now deployed across Kenya and Rwanda, serving millions of passengers.
The company added that each bus mitigates more than 50 tonnes of CO₂ annually, with total emissions avoided exceeding 3,000 tonnes.
According to BasiGo, 29 public transport Saccos have reported annual cost savings of up to 40% after switching to electric buses.
The company also announced that the fleet has covered 1.5 million clean kilometers, carrying over 9 million passengers to date.
Proparco Limited
Proparco Group is a French-owned development finance institution that invests in equity and mobilises long-term financial resources to support and develop sustainable, innovative solutions to address social, environmental, and economic challenges.
It is a subsidiary of Agence Française de Développement (AFD), and its mission is to provide funding and support to businesses and financial institutions in Africa, Asia, Latin America, Eurasia, and the Middle East.
Proparco invests directly in the equity of companies that are key to local economies, with a focus on sectors essential to sustainable development, including renewable energy, healthcare, affordable housing, education, infrastructure, water access, and urban mobility.
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Proparco’s investment amounts begin at €10 million (Ksh1.5 trillion), enabling companies to develop or expand their infrastructure and services.
Proparco’s 3 Main Objectives
Proparco’s work is anchored on three strategic objectives that shape its investments and partnerships across emerging markets.
Proparco aims to build a sustainable and resilient economy by financing projects that stimulate inclusive growth, create jobs, and strengthen local industries.
This helps economies withstand shocks and adapt to global challenges, ensuring long-term stability and competitiveness.
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Secondly, Proparco aims to protect the planet by prioritizing investments that reduce carbon emissions, promote renewable energy, and advance clean technologies.
Lastly, the company reduces inequalities by promoting access to essential services, supporting gender equality, and empowering vulnerable communities.
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