Connect with us

Tech

Kenya’s e-bus startup BasiGo raises $41.5m to scale transport electrification across Africa

Published

on

Kenya’s electric bus solutions startup, BasiGo, has announced raising $41.5 million in Series A funding to help scale its transport electrification projects across the African continent.

According to Jit Bhattacharya, the CEO of BasiGo, the capital raised combines $24m in Series A equity funding and $17.5m in debt, and was led by Africa50 with co-investment from Novastar Ventures, CFAO Kenya, Mobility54, SBI Investment, Trucks VC, Moxxie Ventures, and Susquehanna Foundation.

“Since we founded BasiGo in 2021, our mission has been to create the future of clean, electric public transport in Africa. We are thrilled to have Africa50, a premier African infrastructure investment fund, recognise the potential of our mission,” Bhattacharya said.

He stated that the Series A funding satisfies a key commitment to unlocking a $10m loan facility from the US Development Finance Corporation (DFC), while it also unlocks an additional $7.5m debt facility from British International Investment (BII) to scale BasiGo’s E-bus deployments in Rwanda, where it launched last year.

“The combined equity and debt investment into BasiGo validates our business model and enables BasiGo to focus on scale and profitability.

“With BII’s support to expand our E-bus model in Rwanda, we are ready to deliver hundreds of modern, emissions-free electric buses across East Africa.

“We are delighted to conclude Africa50’s first investment in the e-mobility space to support the greening of the public transport sector in Kenya and Rwanda.”

He added that BasiGo will use they funding to deliver 1,000 electric buses in East Africa in the next three years, while also enabling the company to expand to new vehicle types and new markets.

Also in a statement, Raza Hasnani, managing director and head of infrastructure investments at Africa50, said:

“We believe BasiGo is well positioned to scale in East Africa and beyond given its world class engineering and operations teams, strong value proposition to transport operators and the caliber of strategic and financial partners assembled by the founders.

“As the largest investment to date by an African fund in an e-mobility company, we are proud to support innovation that drives green growth and development in the region.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Tech

Ghana partners with The Gambia to provide free roaming services

Published

on

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Continue Reading

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

on

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.

Continue Reading

EDITOR’S PICK

Politics1 hour ago

Mauritius’ Prime Minister to double as Finance Minister

In an effort to maintain a tight eye on the economy, Mauritius’ Prime Minister, Navin Ramgoolam, who took office this...

VenturesNow21 hours ago

IMF mission concludes 4th loan program assessment in Egypt

Following the completion of a recent visit to Egypt, the International Monetary Fund (IMF) has announced that its mission had...

Politics22 hours ago

Mali’s junta names spokesman Abdoulaye Maiga new Prime Minister

A day after dismissing Choguel Maiga for criticising the government, Mali’s governing junta named its spokesperson, Abdoulaye Maiga, as Prime...

Musings From Abroad22 hours ago

Brazilian meatpacker JBS invests $2.5 billion in Nigeria, builds six facilities

Brazilian meatpacker JBS says it has inked a memorandum of understanding with the Nigerian government for a $2.5 billion investment...

Musings From Abroad22 hours ago

China’s Xi meets with Morocco’s Crown Prince

Morocco’s official media reports that Chinese President, Xi Jinping, visited Morocco briefly on Thursday. According to Morocco’s MAP, Crown Prince...

Metro22 hours ago

65% of Nigerian households lack money for healthy food—Survey

A survey conducted by the National Bureau of Statistics (NBS) has revealed that around 65% of Nigerian households, which is...

Tech2 days ago

Ghana partners with The Gambia to provide free roaming services

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity....

Metro2 days ago

Zambia: APP leader lampoons PF over pledge to reverse forfeited properties

Leader of one of Zambia’s opposition parties, Advocates for People’s Prosperity (APP), Mwenye Musenge, has criticised the Patriotic Front (PF)...

Sports2 days ago

Ghanaian winger Fatawu out for season with ACL injury

Ghana and Leicester City winger, Abdul Fatawu, has been ruled out of the rest of the EPL season after suffering...

Culture2 days ago

DRC authorities arrest six over break-in at Lumumba’s Mausoleum

Police in the Democratic Republic of Congo (DRC) say six people have been arrested over a break-in and vandalism at...

Trending