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BasiGo gets equity funding from France
Source: BasiGo
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Kenyan electric bus startup BasiGo has received equity financing of an undisclosed amount from French development financier Proparco. BasiGo will use the funding to increase production to scale its fleet of 100 buses in Kenya and Rwanda. The company locally assembles electric buses and develops charging infrastructure, partnering with bus operators.
Proparco’s parent AFD Group has committed $1.15 billion per year to transport and mobility worldwide. In Africa, it it has invested in a Senegalese electric bus project, a Nigerian EV financier and indirectly in a Kenyan EV maker.
Investors have jointly pumped more than $60 million in equity and debt into BasiGo to date. They include British International Investment (BII), CFAO Group, Novastar Ventures and Mobility54.
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