Startup led by Nairobi-based entrepreneur secures $3-million investment from CFAO

BasiGo, a leading Kenyan e-mobility startup led by Nairobi-based entrepreneur Jit Bhattacharya, has announced a significant milestone in its journey towards revolutionizing Africa’s public transportation sector.

The startup has secured a substantial $3-million equity investment from CFAO Group, a prominent player in Africa’s automotive distribution network and subsidiary of Toyota Tsusho Corporation.

The recent investment from CFAO Group, a subsidiary of Toyota Tsusho Corporation and a leading player operating in 40 African countries, underscores BasiGo’s commitment to its mission of electrifying public transport in Africa.

BasiGo CEO, Jit Bhattacharya: Partnership with CFAO ‘significant milestone‘ for clean energy in Africa

According to Jit Bhattacharya, CEO of BasiGo, the partnership with CFAO Group marks a significant milestone in the company’s journey toward establishing a complete clean energy value chain across the continent.

“This investment from CFAO Group reaffirms our shared vision of fostering a low-carbon public transport ecosystem in Africa,” Bhattacharya said. “With CFAO’s extensive presence and expertise in both energy and mobility sectors, we are poised to accelerate the adoption of electric vehicles while contributing to environmental sustainability.”

BasiGo’s collaboration with CFAO Group not only signals a boost in financial backing but also paves the way for expanding its offerings and services. With the infusion of funds, BasiGo aims to enhance its capacity to deliver high-quality electric vehicles and services at scale, catering to the evolving needs of African cities.

“We believe that our partnership with CFAO Group will enable us to build a comprehensive green value chain in Africa, spanning renewable energy generation to eco-friendly transportation solutions,” Bhattacharya added.

A track record of support and recognition

Established in 2021 by Bhattacharya and Jonathan Green, BasiGo has garnered notable support from international organizations and development finance institutions. Prior to the recent equity investment, the startup secured $5 million in debt funding from British International Investment (BII) to bolster the local assembly of electric buses in Kenya.

Furthermore, BasiGo received a $1.5-million grant from the United States Agency for International Development (USAID) to support its pioneering pilot program in Kigali, Rwanda. These initiatives underscore BasiGo’s commitment to driving sustainable innovation and addressing transportation challenges across Sub-Saharan Africa.

As BasiGo continues to expand its footprint and influence in Africa’s e-mobility landscape, the partnership with CFAO Group sets the stage for transformative growth and innovation. With a shared vision of promoting clean energy and sustainable transportation, BasiGo remains steadfast in its mission to redefine public transport across the continent.