Home Tags Posts tagged with "BASIGO"
Tag:

BASIGO

Banking, Finance & InvestmentFinance & ServicesKenyan NewsUncategorized

KCB partner with BasiGo To Finance the Purchase Of Electric Buses

by Radarr Africa
written by Radarr Africa

KCB Bank customers can now access financing options to purchase electric Public Service Vehicles (PSV) following a deal the bank has secured with e-mobility startup and financing company BasiGo Ltd.

The customers will enjoy funding of up to 90 per cent for an extended period of 36 months, a move that aims to support the reduction in greenhouse gas emissions and enhance the customers’ response to climate change through adaptation and mitigation measures.

Moreover, customers will be privileged to access embedded tracking and fleet management gadgets that will be already installed on the electric buses in addition to insurance financing for their vehicles.

On the other hand, BasiGo will provide servicing, charging, and maintenance of the batteries.

Speaking during the signing of the agreement, BasiGo Chief Executive Officer (CEO) and Co-Founder Jit Bhattacharya noted that the agreement with KCB is game-changing as it will make access to electric buses by PSV owners in the country affordable.

ALSO READ: Kenya’s Government Moves To License Digital Taxi Hailing Firms

“This deal will allow bus owners to secure asset financing for an electric bus exactly in line with how they have been purchasing diesel buses. With KCB’s pioneering support for this technology and BasiGo’s Pay-As-You-Drive (PAYD) financing, we have made electric buses more affordable and more convenient for owners to purchase and operate than a diesel bus,” said Bhattacharya.

The electric buses are available for purchase on a blended sale or operating mode where one can purchase a bus at a cost of Sh5million with BasiGo retaining the ownership of the battery within the bus.

BasiGo offers PAYD subscriptions at Sh20 per kilometer driven even as it mitigates the risks to PSV operators by guaranteeing battery performance and providing charging and maintenance for the bus throughout its life.

KCB Bank Director of Corporate Banking Esther Waititu noted that the deal is in line with the bank’s vision of leveraging partnerships that provide value to its customers.

“Entrenching sustainability in our operations means that we always consider our economic, social and environmental impact before we make any decision on partnerships and collaborations. We are delighted to partner with BasiGo as this reflects our commitment to supporting key customers to derive value from their long-standing loyalty,” said Waititu.

The deal also includes KCB SAHL Banking customers who under the Shariah-compliant banking model, will be able to purchase the electric buses from BasiGo at affordable rates.

The agreement is timely as it comes at a time many organizations are switching to green energy and sustainable practices by adopting the UN Sustainable Development Goals (SDGs) as a guide to help in reducing human-caused emissions of carbon dioxide by about 45 per cent by 2030.

SOURCE: Capital business

0 comment
0 FacebookTwitterPinterestEmail
AfricaEastern AfricaGlobal NewsTechnology

BasiGo secures Ksh 3M funding from Keeling Curve Prize

by Radarr Africa
written by Radarr Africa

Kenya’s e-mobility startup, BasiGo has won Ksh 3 million ($25,000) Keeling Curve Prize (KCP) for its efforts to reduce greenhouse emissions.

Basi-Go is among 10 companies awarded the prize by the Global Warming Mitigation Project (GWMP) to celebrate the impactful climate mitigation efforts of global projects.

Another Kenyan-based firm, Koko Networks which develops clean ethanol cooking fuel and other cooking solutions also secured $25,000 in funding.

“I was proud to just be selected as a finalist and being selected as a winner of this year’s Keeling Curve Prize is beyond words. We began this journey with a mission to show the world that East Africa could be a leader in the fight against climate change and are proud to have our vision recognized. There is a lot of work ahead, but we look forward to continuing this journey of electrifying mobility in Kenya and beyond,” said Jit Bhattacharya, Co-Founder and CEO at BasiGo added.

ALSO READ: Kenya, US Launch Trade And Investment Partnership

BasiGo has been piloting two electric passenger buses in Nairobi, in partnership with Citi Hoppa and East Shuttles, since March 2022. The buses have covered over 42,000 kilometres of passenger operations.

According to GWMP this year’s winners were recognised for innovations such as green nitrogen fertilizer production, seaweed cultivation for cattle feed, alcohols produced from CO2 and e-mobility.

“Greenhouse gas emissions are the driving force behind the climate emergency. This can and must be addressed, worldwide. Elevating and investing in proven projects and programs is a valuable way the GWMP is lighting up the landscape for a liveable future,” added Jacque Francis during the announcing winners at this year’s KCP Winners Ceremony, held in Darmstadt, Germany.

Each year, the Keeling Curve Prize awards $25,000 to 10 projects and programs across the globe with demonstrated success in reducing, eliminating, avoiding, or drawing down greenhouse gases out of the atmosphere. The 2022 prize attracted nearly 400 applications.

Other winners of the prize were Wastezon, Enzinc, Symbrosia, Nitricity, Canopy, Air Company, MEETS Coalition and GreenMax Capital Advisors.

Source: KBC

0 comment
0 FacebookTwitterPinterestEmail