NCBA Group is partnering with BasiGo to finance 1,000 electric vehicles for Kenyan public transport operators, businesses and institutions, supporting the country’s transition towards cleaner and more affordable mobility.
Under the partnership, PSV SACCOs and established transport companies will be able to finance up to 90% of an electric vehicle’s value over 60 months, while individual SACCO members can access up to 80% financing over 48 months. Customers will also benefit from a discounted 1.5% processing fee and options to purchase or lease BasiGo electric vehicles.
The partnership will also support BasiGo’s Pay-As-You-Drive model, which is designed to reduce upfront costs while incorporating charging and maintenance services into the ownership and operating model.
The financing forms part of BasiGo’s ambition to deploy 1,000 electric buses in Kenya by 2027. The company has been expanding local assembly at its Thika facility, with production capacity targeted at 20 buses per month during 2026.
NCBA’s financing commitment comes as Kenya’s electric vehicle market continues to expand. Registered electric vehicles increased from 1,378 in 2022 to 39,324 in 2025, supported by more affordable models, financing options and government incentives under the National Electric Mobility Policy.
The government has also introduced tax incentives for electric mobility, including zero-rated VAT on electric buses, motorcycles, bicycles and lithium-ion batteries, helping strengthen the business case for wider adoption.
Beyond financing, NCBA will become BasiGo’s first local investor, adding a financial-services component to the partnership as the electric mobility company expands its manufacturing and deployment operations.
The development highlights the growing role of financial institutions in accelerating Kenya’s electric mobility transition by making electric vehicles more accessible to transport operators and other commercial users.
The partnership comes as Nedbank pursues the acquisition of approximately 66% of NCBA, a transaction that would make the Kenyan lender a subsidiary of the South African banking group if completed.
