Dubai (PlantAndEquipment.com) - NCBA Group and BasiGo have teamed to finance 1,000 electric vans in Kenya, aimed for public transport companies and organizations aiming to shift away from diesel vehicles.

NCBA is supporting the initiative with a KES 2 billion (about $15.5 million) e-mobility finance facility, with more than KES 800 million ($6.2 million) already invested in sustainable transportation assets.

Established PSV firms and SACCOs may acquire finance for up to 90% of the value of a vehicle over a 60-month period, while individual SACCO members can get up to 80% over 48 months. Schools, hospitals, and other organizations are also eligible.

The finance will help the deployment of BasiGo’s Ma3e electric van, which provides a range of up to 300 km and is being produced locally in Kenya from CKD kits by Associated Vehicle Assemblers (AVA) in Mombasa.

BasiGo is merging traditional asset financing and leasing with its Pay-As-You-Drive strategy, decreasing the upfront cash necessary for operators to adopt electric cars.

The firm presently operates 136 electric vehicles in Kenya and Rwanda, with over 1,200 bookings for its busses and vans. BasiGo is also growing its charging network as it pursues a bigger electric commercial vehicle fleet in the area.