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BasiGo, the Nairobi-based electric bus company, and NCBA Group have partnered to finance 1,000 electric vehicles for Kenya’s public service vehicle market.
The deal combines BasiGo’s Pay-As-You-Drive model with NCBA’s asset financing to make it easier for transport operators to switch from diesel to electric.
Founded in 2021 by Jit Bhattacharya, BasiGo provides electric buses to public transport operators through its Pay-As-You-Drive financing model, which allows operators to acquire an electric bus for a similar upfront cost to a diesel vehicle and then pay a per-kilometre subscription fee covering battery leasing, charging, and maintenance.
The company assembles its buses locally in Kenya and currently has nearly 500 pending orders from transport operators. Total EV registrations in Kenya crossed 35,000 in 2025, up from just 796 in 2022.
Under the partnership, established PSV companies and SACCOs can access up to 90% asset financing over 60 months, while individual SACCO members can receive up to 80% financing over 48 months, with a discounted 1.5% processing fee.
Operators can either use BasiGo’s all-inclusive Pay-As-You-Drive subscription, which bundles the vehicle with charging, battery leasing, and maintenance, or purchase electric vans directly through NCBA’s lower-cost asset financing options.
The partnership builds on NCBA’s $15.5 million (KES 2 billion) e-mobility financing facility, through which the bank has already invested more than $6.2 million (KES 0.8 billion) in electric vehicle assets in Kenya.
The announcement comes exactly a month after BasiGo, the Nairobi-based electric bus startup, partnered with Rubis Energy Kenya to deploy DC fast-charging infrastructure along Kenya’s key transport corridors.
The partnership comes as NCBA Group reports strong momentum in its asset finance and e-mobility business. NCBA is a full-service banking group providing a broad range of financial products and services to Corporate, Institutional, SME and Consumer banking customers.
In its H1 2026 results, the group posted a profit after tax of $96 million (KES 12.4 billion), up 12.2% year-on-year, on operating income of $315 million (KES 40.7 billion).
NCBA holds 30% asset finance market leadership in Kenya, with strategic partnerships in electric vehicle adoption and solar leasing driving that position.
The group’s SME loan book grew 12% year-on-year to $346 million (KES 44.7 billion), while its digital marketplace CarDuka sold vehicles worth $15 million (KES 1.94 billion) during the period.
Total assets stood at $5.7 billion (KES 739 billion). NCBA also invested $18.6 million (KES 2.4 billion) in technology infrastructure during the half to accelerate AI adoption and strengthen cyber resilience.
