NCBA Group has partnered with electric bus solutions provider BasiGo to finance 1,000 electric vehicles, opening up new opportunities for public transport operators, businesses and institutions to transition to cleaner mobility.
The partnership, announced on August 26, 2026, introduces leasing as an additional financing option alongside traditional asset finance, helping reduce the upfront capital required to acquire electric vehicles.
Under the agreement, NCBA and BasiGo will support the financing of electric vans, enabling BasiGo to scale production and lease the vehicles to PSV SACCOs, established operators and individuals.
NCBA becomes the first local investor to finance BasiGo, reinforcing its role in supporting Kenya’s shift towards electric transport.
The partnership provides PSV operators with flexible options to either purchase or lease electric vehicles. Existing PSV SACCOs and established PSV companies can access financing of up to 90 per cent of the asset value over 60 months, while individual SACCO members can access up to 80 per cent financing over 48 months. Both options attract a discounted processing fee of 1.5 per cent.
The two companies have also developed a financing structure to support the expansion of BasiGo’s all-inclusive Pay-As-You-Drive model, which is designed to lower the upfront cost barrier associated with electric vehicle adoption.
Lennox Mugambi, Group Director, Asset Finance and Business Solutions at NCBA Group, said financing was critical to making electric mobility commercially viable at scale.
“The transition to electric mobility is not simply about putting more electric vehicles on the road; it is about creating the financing and infrastructure needed to make them commercially viable at scale,” Mugambi said.
She added that financing BasiGo vehicles would help connect capital with clean mobility solutions while making sustainable assets more accessible to operators.
BasiGo CEO and Co-founder Jit Bhattacharya said financing remains one of the biggest challenges facing electric vehicle adoption across Africa.
He said the partnership would give Kenyan PSV operators multiple financing options, including asset finance and leasing, allowing more operators to add electric vehicles to their fleets.
The initiative comes as transport costs and fuel expenses continue to place pressure on PSV operators. By reducing the need for significant upfront investment, leasing could enable operators to transition to electric fleets while potentially lowering exposure to fuel and maintenance costs.
The partnership forms part of NCBA’s broader e-mobility financing strategy. Through its KES 2 billion e-mobility financing programme, the bank has so far invested more than KES 0.8 billion in sustainable mobility assets across the Group.
NCBA said the initiative aligns with its Change the Story sustainability agenda, which seeks to mobilise green and sustainable finance while helping businesses and communities adopt solutions that create environmental and economic value.
Together, NCBA and BasiGo aim to expand access to electric mobility, strengthen Kenya’s emerging e-mobility ecosystem and support the country’s transition towards a lower-carbon transport sector.