March 29

CFAO Group Invests $3 Million in BasiGo to Boost East Africa’s Electric Bus Production

Electric bus company, BasiGo has secured $3 million (Sh396 million) worth of equity funding from CFAO Group to scale up electric bus production in East Africa. The investment, split between CFAO Kenya and Mobility54, the corporate venture capital arm of CFAO will go towards accelerating the scale-up of BasiGo’s manufacturing and delivery of electric buses in Kenya and Rwanda.

Source: The Exchange Africa (link opens in a new window)

Energy, Environment, Transportation
electric vehicles, scale, startups, venture capital