Tech

Kenyan electric bus startup BasiGo secures $3m funding to scale up production

Published

1 month ago

April 3, 2024

Kenyan electric bus startup, BasiGo, has announced raising the sum of $3 million worth of equity funding from CFAO Group which will enable it scale up its production in the country and Rwanda.

Speaking on the funding, BasiGo co-founder and CEO, Jit Bhattacharya, said it would provide the means to produce state-of-the-art electric buses along with charging and maintenance services for bus operators.

“This will make our vehicles more affordable through a financing model that allows operators to pay for the battery and charging separately from the bus through a pay-as-you-go financing arrangement,” he said.

“The company now aims to deliver 1,000 locally-assembled electric buses over the coming three years, and has received over 500 orders from bus operators in Nairobi and 100 orders from operators in Kigali,” Bhattacharya added.

Also speaking on the funding, CFAO Kenya Managing Director, Akira Wada, said the “investment into BasiGo is split between CFAO Kenya and Mobility54, the corporate venture capital arm of CFAO.”

“As a player in the energy and mobility industry in Africa, CFAO recognises the extraordinary opportunity for electric mobility to transform African economies,” said Wada.

“This is the start of a new era, and through this investment, we are not only supporting the growth of the electric vehicle industry, but also contributing to the development of a sustainable green energy value chain that will benefit communities across Africa,” Wada added.

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Tech

Google relaunches Hustle Academy with AI focus to empower African SMBs

Published

20 hours ago

May 16, 2024

Akanimoh Etim

Google has relaunched the 2024 cohort of its Hustle Academy, a programme dedicated to accelerating the growth of small and medium-sized businesses (SMBs) in Sub-Saharan Africa.

Making the announcement on Thursday, Google said it is opening of applications for the Hustle Academy with a special focus on using Artificial Intelligence (AI) to provide comprehensive business education, mentorship, and networking opportunities to SMBs.

According to Kristy Grant, Head of B2B marketing for Sub-Saharan Africa at Google, the 2024 cohort of the programme introduces a significant upgrade – business-focused AI training integrated directly into the curriculum.

“This year, the new AI modules focus on data-driven decisions, optimising operations, and building AI-powered marketing strategies,” Grant said.

“AI holds immense potential for African small and medium-sized businesses SMBs, enabling them to drive innovation, increase efficiency, and unlock new levels of economic growth.

“The Hustle Academy has supported over 10,000 businesses who have gone ahead to raise funding and create jobs since inception.

“By incorporating AI into our curriculum, we aim to further amplify this impact, equipping SMBs to harness AI technologies for improved business performance and economic progress,” Grant emphasized.

She added that applications for the 2024 Hustle Academy cohort are open to SMBs in Kenya, Nigeria, and South Africa.

Tech

Latin America’s biggest payment processor PayRetailers expands into Africa

Published

2 days ago

May 15, 2024

Akanimoh Etim

Latin America’s biggest payment processor, PayRetailers, has announced its expansion into Africa with coverage across four countries, Rwanda, Zambia, Uganda, and Tanzania.

A statement by its Chief Operating & Digital Officer, Lorenzo Pellegrino, said by expanding into Africa will offer customers a unified payment solution that will be a game changer for cross-border online merchants looking at Africa as their next move for strategic growth.

He said to strengthen its presence in the continent, PayRetailers is activating its payment processing functions that will “offer a simple, user-friendly, and scalable experience to businesses looking to grow their regional operations and give them access to major local methods like SPENN, Airtel, and MTN.”

“This market is increasingly connected and mobile and destined for strong growth, which is why PayRetailers, in its mission to increase financial inclusion and continue supporting business growth in emerging markets, has decided to activate its networks in the region and drive this exciting era of prosperity,” Pellegrino said.

“As a part of our strategic expansion, we are extending our coverage to four markets in Africa, at least to start with. Over the coming months, we plan to steadily expand our operation in the continent, which is experiencing incredible growth in the payments industry and has massive potential for merchants looking to diversify and broaden their consumer base.

“Using the stellar and continuous growth we have experienced in LATAM as our guide, we are well-poised to help businesses thrive faster and more sustainably.

“We recognize the immense potential and significance of venturing into these dynamic markets.

“Each new addition to our market coverage is a gateway into untapped opportunities and strengthened partnerships, ensuring our sustained growth and global relevance.

“Our imminent expansion into additional countries across West, North, and Southern Africa underscores our commitment to empowering our clients and connecting them with diverse consumer bases across the continent.

“From May onward, businesses will be able to operate in the region using PayRetailers for their online users, representing a major milestone for its client portfolio and its innovation strategy for 2024,” the statement said.