Kenya’s EV push gets boost as NCBA, BasiGo seal financing deal for 1,000 vehicles
NCBA Group has partnered with BasiGo to finance 1,000 electric vehicles, giving public transport operators, businesses, and institutions the option to buy or lease electric vans.
Kenya's electric vehicle (EV) push received a significant boost as NCBA Group and BasiGo, a Nairobi-based electric mobility company, sealed a financing deal for 1,000 electric vehicles. The partnership aims to provide public transport operators, businesses, and institutions with the option to buy or lease electric vans through asset finance and leasing.
This move is part of Kenya's broader goal to reduce emissions from the transport sector, which accounts for over 40% of the country's total energy consumption and is its fastest-growing source of emissions. With Kenya's EV market rapidly growing and the government supporting this transition through lower-priced EVs and tailored financing options, the collaboration between NCBA and BasiGo is a crucial step towards Kenya's target of deploying 1,000 electric buses by 2027.
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