NCBA Group and BasiGo have announced a landmark partnership aimed at accelerating the adoption of electric vehicles within Kenya's public transport sector. The collaboration will provide dedicated financing for 1,000 electric vans, targeting public service vehicle (PSV) operators, businesses, and various institutions. This initiative represents a major step in making clean energy transport more accessible and affordable for commercial operators, directly addressing a key barrier to green mobility.
A Strategic Partnership to Accelerate E-Mobility
The new financing structure strategically combines asset finance and leasing to significantly lower the entry barrier for transport operators. Established PSV SACCOs can secure up to 90% financing over a 60-month period, while individual members can access 80% over 48 months, both with a discounted processing fee. This arrangement is designed to seamlessly integrate with BasiGo’s innovative Pay-As-You-Drive model, offering flexible and affordable pathways to EV ownership.
Addressing the Upfront Cost Barrier
A primary obstacle to widespread EV adoption in the commercial sector has been the high initial acquisition cost compared to traditional diesel vehicles. This partnership directly confronts that challenge by substantially reducing the upfront capital required from transport entrepreneurs and companies. By making electric vans a more financially viable investment, the initiative aims to stimulate a significant and lasting shift towards sustainable public transit solutions across the country.
BasiGo's Expanding Operational Footprint
The timing of this financing is critical, as BasiGo has already cultivated substantial demand with over 1,200 reservations for its electric buses and vans. The company currently has 136 vehicles in operation across Kenya and Rwanda, demonstrating a proven track record on busy commercial routes in cities like Nairobi. This new financial backing is poised to help convert the strong pipeline of existing operator interest into vehicles actively serving the public.
Infrastructure and Manufacturing Synergy
This initiative is bolstered by BasiGo's parallel investments in local manufacturing and charging infrastructure, creating a comprehensive ecosystem for operators. The company recently began assembling its Ma3e electric van in Mombasa using Complete Knocked Down kits, boosting local supply. Simultaneously, it is expanding its charging network to regional towns like Nakuru and Nyeri, ensuring that newly financed vehicles are backed by reliable operational support.
NCBA's Broader Commitment to Sustainable Finance
For NCBA Group, this partnership is a key component of its broader e-mobility strategy, which is backed by a KES 2 billion financing facility. The bank has already invested over KES 800 million from this fund into sustainable mobility assets and has become the first local investor to directly finance BasiGo. This move extends NCBA's established asset-finance expertise into the high-potential commercial electric fleet market, reinforcing its commitment to green financing.
Ultimately, this collaboration between NCBA and BasiGo aligns the critical components needed to effectively scale electric public transport in Kenya. It connects accessible financing with a growing supply of locally assembled vehicles and an expanding charging network, creating a holistic solution for operators. The success of this 1,000-vehicle initiative will be measured by its ability to put more EVs on the road, potentially creating a powerful blueprint for sustainable transport across the region.