BasiGo expands its fleet in Rwanda

• BasiGo faces growing competition from emerging players like IZI Electric in Rwanda. Therefore, it is countering this by rapidly scaling operations, strengthening infrastructure, and leveraging early market dominance to solidify its leadership. 

• Replicating the business model in Kenya could be effective, but charging infrastructure remains a key challenge. Partnering with Kabisa, Rwanda-based EV company, which has an extensive charging network in Kigali, would enhance its short-term operations.

• Our take: BasiGo needs to scale up its local assembly of electric buses to establish itself as a leading East African e-bus manufacturer… Read more (2 min)

Volvo unveils its sixth electric car model 

• Volvo has seen significant increases in both fully-electric and plug-in hybrid sales globally. Its fully-electric models, which include sedans, fastbacks and SUVs, are proving especially popular. The carmaker is expanding its lineup of EVs to cater to a more diverse user-base.

• The company has seen significant success with its EV sales in South Africa, especially with the Volvo EX30. The carmaker sold 539 EVs in South Africa in 2024, about 42% of the 1,257 EVs that were sold in the country in that period. Its vehicles are also available in other African countries.

• Our take: As EV prices at the lower end of the market (where competition is stiff) continue to drop significantly, luxury buyers, who care less about prices, will become the new focus for carmakers... Read more (2 min)

Here are the funders of Africa’s mobility startups

• One thing that sticks out in February’s funding rounds is a major shipping agency that led the fundraising for a Togolese ride-hailing firm which ended up raising $30 million in debt and equity. This diversification into venture investment demonstrates that established industry players are seeing opportunities in African startups, broadening investment beyond traditional VC firms.

• Something else that stood out was a South African VC firm that focuses on SMEs and very early-stage companies only within the country. It shows that VC firms are becoming more specialised in their investment strategies, which could provide more value for investees. 

• Our take: There is a growing trend where companies combine consulting services with investment. This is a positive development that could provide startups with both capital and strategic guidance... Read more (2 min)

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