CorporateFinance

KCB, BasiGo ink deal for electric vehicle financing of up to 90%

KCB Bank Kenya and BasiGo have entered into an electric vehicle financing deal which will see dealers in the Public Service Vehicles (PSVs) enjoy deals of up to 90 percent.

After approval of the loan, e-mobility customers will refinance their facilities for a period of up to 36 months.

Part of the deal is that BasiGo will offer embedded tracking and fleet management gadgets on purchased buses in addition to insurance financing, battery charging, service and maintenance.

“The key to getting electric buses on the road in Kenya is to make them affordable to Public Service Vehicles (PSV) owners. The partnership is game changing as it allows bus owners to secure asset financing for an electric bus exactly in line with how they have been purchasing diesel buses,” said BasiGo CEO and Co-Founder Jit Bhattacharya.

On his part, KCB Bank Director of Corporate Banking Esther Waititu said that “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,” Prior to the partnership, BasiGo has offered Pay-As-You-Drive subscriptions at the price of Ksh.20 per kilometre.

BasiGo said it has subsequently received over 100 reservations for its K6 branded electric buses which its sets to deliver in early 2023.

Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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