NCBA and BasiGo Scale Kenyan Electric Transport Fleet Financing to 1,000 Vehicles

Kenya is accelerating its transition to electric public transport as NCBA Group and BasiGo establish a financing partnership targeting 1,000 electric vehicles. Announced on August 26, 2026 by George Kamau, the initiative provides structured asset finance and leasing options for public service vehicle operators, businesses, and institutions. By combining banking infrastructure with specialized green mobility models, the collaboration aims to remove traditional capital barriers that have historically slowed commercial fleet electrification across the region.

Under the terms of the agreement, established public service vehicle savings and credit cooperatives and companies can access financing for up to 90 percent of the asset value over a 60-month period. Individual cooperative members qualify for up to 80 percent financing over 48 months, with both structures benefiting from a discounted 1.5 percent processing fee. This financial backing integrates directly with BasiGo systems, including the Pay-As-You-Drive model, creating structured pathways for operators seeking to modernize their fleets without carrying the full purchase cost upfront.

The scale of this commercial push aligns closely with proven market demand. BasiGo has accumulated more than 1,200 reservations for electric buses and vans across Kenya and Rwanda, while operating a deployed fleet of 136 vehicles, including 102 units in Kenya. These vehicles operate on demanding daily commuter corridors such as Thika Road, Mombasa Road, Waiyaki Way, Jogoo Road, and Ngong Road through established operators like Super Metro and Citi Hoppa. This operational track record provides lenders and borrowers alike with practical performance data.

NCBA Group brings substantial institutional commitment to the partnership, having already invested more than KES 800 million through a dedicated KES 2 billion e-mobility financing facility. In a notable strategic development, NCBA has also become the first local investor to directly finance BasiGo. This investment extends the bank's corporate engagement well beyond retail vehicle loans, anchoring the broader sustainability strategy of the financial institution into the core manufacturing and distribution operations of the electric vehicle enterprise.

Why This Matters

The alignment between commercial banking capital and green transport developers addresses the foundational hurdle of African e-mobility transitions. High initial asset costs have frequently isolated electric vehicle adoption within controlled pilot projects rather than broad commercial deployment. By deploying structured asset finance at scale through recognized financial institutions, the transport sector gains a repeatable mechanism to transition legacy fleets toward sustainable alternatives without destabilizing operator cash flows.

Furthermore, local investor participation mitigates the currency and foreign exchange risks that frequently complicate green infrastructure finance across emerging markets. When domestic commercial banks fund local transport decarbonization using local currency facilities, operators and developers operate within more predictable economic parameters. This operational resilience strengthens public transport infrastructure against external macroeconomic shocks and supports long-term national climate commitments.

Opportunities

• Commercial Lenders: Replicate localized green asset financing facilities and discounted processing structures across regional banking sectors.
• Fleet Operators and SACCOs: Utilize up to 90 percent asset financing terms to transition high-density commuter routes to electric vehicles.
• Infrastructure Integrators: Deploy charging stations and maintenance ecosystems along high-traffic commuter corridors like Thika Road and Waiyaki Way.
• Institutional Investors: Follow NCBA Group in taking direct equity or debt stakes in African electric vehicle manufacturing and assembly companies.

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