Sharp Daily
No Result
View All Result
Monday, June 23, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

KCB Partners With BasiGo Kenya To Finance Green PSV Buses

Editor SharpDaily by Editor SharpDaily
October 4, 2022
in News
Reading Time: 3 mins read
KCB BasiGo

KCB Bank Director Corporate Banking Esther Waititu shares pleasantries with Jit Bhattacharya, CEO and Co-Founder at BasiGo during a Partnership event in Nairobi. [Photo/ Courtesy]

KCB customers in the Public Service Vehicle industry will now be able to access flexible financing options in a deal between KCB Bank Kenya and BasiGo Ltd, an e-mobility startup and financing company supplying electric bus services to sub-Saharan Africa.

The partnership will see customers enjoy up to 90% funding with an extended repayment period of 36 months while supporting them to reduce their greenhouse emissions and enhance their ability to respond to climate change through adaptation and mitigation measures.

In addition, customers will have the privilege to access embedded tracking, and fleet management gadgets already installed on the electric bus plus also insurance financing. Also, battery charging, service, and maintenance shall be provided by BasiGo.

“The key to getting electric buses on the road in Kenya is to make them affordable to PSV owners. The partnership we have signed today with KCB Bank is game-changing. It will allow bus owners to secure asset financing for an electric bus exactly in line with how they have been purchasing diesel buses.,” said Jit Bhattacharya, CEO and Co-Founder at BasiGo. “With KCB’s pioneering support for this technology and BasiGo’s Pay-As-You-Drive financing, we have made electric buses more affordable and more convenient for owners to purchase and operate than a diesel bus.”

RELATEDPOSTS

BasiGo secures KES 5.42 billion to boost electric bus rollout in East Africa

October 23, 2024

BasiGo secures KES 1.3 billion loan as U.S.-Kenya climate partnership unveiled

May 23, 2024

Read: KCB Named The Best Bank In Sustainable Finance

BasiGo’ s electric buses are available to purchase on a blended Sale/Operating lease model. Under this model, the bus is available to purchase from Ksh5 million with BasiGo retaining ownership of the battery within the bus. The battery is subsequently leased to the PSV operator via the Pay-As-You-Drive (PAYD) subscription. BasiGo currently offers Pay-As-You-Drive subscriptions at a price of Ksh20 per kilometer driven through the subscription, BasiGo mitigates the risks to PSV operators by guaranteeing battery performance and providing all charging and maintenance for the bus throughout its life.

Speaking during the event, KCB Bank Director of Corporate Banking, Esther Waititu noted that the arrangement is in line with the Bank’s vision to leverage partnerships that seek to 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,” Waititu said.

Read: KCB Shareholders Approve Acquisition Of DRC-based Lender Trust Merchant Bank SA

Also catered for are KCB SAHL Banking customers who under the Shariah-compliant banking model, will be able to purchase the electric buses from BasiGo at affordable rates.

BasiGo has recently concluded its pilot program in collaboration with Citi Hoppa and East Shuttle. The pilot buses have been in operation in Nairobi since March 2022 and have driven over 90,000 km and carried over 112,000 passengers. BasiGo has already received over 100 reservations for its K6 Electric bus and is set to deliver new buses in early 2023 to SACCO’s on the reservation list.

The partnership comes at a time when institutions are being called upon to embrace sustainable practices by adopting the UN Sustainable Development Goals (SDGs) as a guide to assist in the attainment of reduced global net human-caused emissions of carbon dioxide by about 45 percent by 2030.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Government Acquires Full Ownership Of Telkom Kenya

Next Post

Bolt Appoints Linda Ndungu As The New Country Manager for Kenya

Editor SharpDaily

Editor SharpDaily

The latest in business, real estate, education, investments, tech and entrepreneurship, brought to you daily. Reach us through thesharpdaily@gmail.com

Related Posts

Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025
Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025

LATEST STORIES

How bushy can a bush safari get?

June 20, 2025

Understanding SPVs

June 20, 2025

Why small investments are a power move

June 20, 2025

Social consequences of the tax relief for gamblers

June 20, 2025

How E-Tendering can reshape public procurement in Kenya

June 20, 2025

Unlocking long-term wealth with the power of compounding

June 19, 2025

HealthCare investment trends and insights

June 19, 2025

Saving vs Investing

June 19, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024