Kenya’s electric mobility sector is starting to get really exciting and gaining some significant traction. Financing facilities are critical to the growth of any sector, and this will be a key enabler for Kenya’s electric
to enable players in the public service vehicle industry to access flexible financing options. Family Bank’s deal with BasiGo Ltd, an e-mobility startup and financing company supplying electric bus services to sub-Saharan Africa, will see customers enjoy up to 90% financing, with an extended loan repayment period of 48 months for the purchase of electric buses.
The K6 Electric Bus from BasiGo is available for Kshs. 5,000,000, plus a subscription fee of Kshs. 20 per kilometer – Pay-As-You-Drive . Through PAYD, BasiGo mitigates the risks to PSV operators by guaranteeing battery performance and providing all charging and maintenance for the bus throughout its life. The battery will be leased to the PSV operator via the PAYD battery subscription.
The buses, once charged, will have a driving range of 250 kilometers before the next charge at BasiGo charging depots that will be strategically located along the matatu routes. This allows transport providers to complete a full day’s operation.
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