CFAO has completed a USD 3 million equity investment in electric bus startup BasiGo. The deal was signed in Nairobi on Tuesday, 26 March.
We are proud to announce that BasiGo has secured a USD 3 million equity investment from CFAO Group, owners of Africa’s largest automotive distribution network. With the backing of a market leader like CFAO, our customers and partners can trust that BasiGo is ready to deliver high quality vehicles and services at scale!
~ BasiGo
CFAO is a subsidiary of Toyota Tsusho Corporation. It operates in 40 African countries and is an established leader in mobility, renewable energy, consumer and healthcare.
Toyota has been on record claiming that it was possible to develop car electric batteries that charged in less than 10 minutes in the future.
BasiGo and CFAO CEOs say they are committed to building a complete green value chain in Africa, from renewable energy generation to clean, electric vehicles providing low carbon transport to Africa’s growing cities.
Feature Photo: BasiGo Co-founder and CEO Jit Bhattacharya and CFAO Kenya Managing Director Akira Wada
