Kenya is keen on growing its electric vehicle (EV) market, supported by local companies such as Roam – which has one electric bus designed for the BRT, and plans to launch ordinary electric buses in partnership with Matatu Saccos – and BasiGo that has since sealed a partnership with multiple bus Saccos in Nairobi.
This development is also being supported by the US government through the U.S. International Development Finance Corporation (DFC), which has since issued loans worth tens of millions of dollars to BasiGo and Roam.
In February 2024, DFC announced a $10 million loan to Roam Motors to ‘support its assembly and production of electric motorcycles on-site in its Nairobi production facility.”
It also announced a $10 million direct loan to BasiGo to facilitate “the procurement of buses and batteries for sale in Kenya and is a key e-mobility project supporting Kenya’s ambitious climate goals.”
And just the other day, DFC announced a $10 million loan to Mogo Auto Kenya to support affordable financing for cars, motorcycle taxis, and logbook loans in Kenya.
DFC said in a statement, “The transaction supports President Ruto’s Africa Green Industrialization Initiative, building upon DFC’s longstanding support for the e-mobility economy in Kenya.”
The U.S. Department of State has also pledged $100,000 to provide Kenya with technical support to expedite the shift towards zero-emission vehicles. This assistance will encompass policy development and execution, capacity building through peer-to-peer learning, and workforce development initiatives.
These developments were revealed by the White House during President Ruto’s state visit to the United States.
