Working to solve social challenges in Africa by supporting expansions of innovative partners’ businesses and services.
This new USD 3 million investment in BasiGo backed by Mobility 54, the CFAO Group and Toyota Tsusho Corporation CVC is a fine illustration.
Travel by bus has become an integral part of people’s lives in urban Africa, where the majority of the buses run on diesel or gasoline. Electric buses are expected to help solve social issues such as by reducing GHG emissions and improving the profitability of the public transportation industry.
Mobility 54 has entered into the electric bus business in 2022 through a first investment into BasiGo in Kenya. This new investment will help to speed up the manufacture and delivery of BasiGo’s electric buses in Kenya and Rwanda, East Africa. Committed to a common carbon neutral approach, CFAO and TTC aim to build an electric mobility ecosystem in Africa in order to achieve medium to long term neutrality.
See also our news on LinkedIn, here.
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