Paul Arithi 
L- R: KCB Bank Director Corporate Banking Esther Waititu shares pleasantries with Jit Bhattacharya, CEO and Co-Founder at BasiGo during a Partnership event in Nairobi. 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.[Photo/KCB/Sources/Oxygene' PR.Agency}
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 announced today, 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.
“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.”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 Kshs. 5,000,000, 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 Ksh 20 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.
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.
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