Sylvia Duruson
The transport sector’s significant contribution to carbon emissions has necessitated a transition towards sustainable solutions like electric vehicles (EVs). This shift aims to mitigate environmental degradation and address the negative impacts of climate change. In Kenya, Norfund, the Norwegian investment fund for developing countries, has committed substantial support to the country’s e-mobility sector, demonstrating a strong partnership between the two nations in promoting sustainable development.
With a contracted portfolio totaling $307 million, Kenya plays a pivotal role in Norfund’s development mandate, holding the largest country exposure within its portfolio. During an official visit to Kenya, Norway’s Minister of Foreign Affairs, Espen Barth Eide, visited BasiGo’s Buruburu charging and servicing depot, showcasing the robust collaboration between the two countries in the area of sustainable development.
Jit Bhattacharya, Chief Executive Officer (CEO) and Co-Founder of BasiGo, emphasized the significance of this partnership, stating, “Together, we are not only fostering economic growth but also ensuring that we contribute to a safer and more sustainable public transport system in Kenya.”
Norfund has been a key investor in Novastar’s funds, committing $18 million (KSh 3.2 billion) across three funds, including the new fund launching in 2024. This investment highlights Norway’s commitment to supporting Kenya’s growth through strategic investments in various sectors, including e-mobility.
BasiGo, a pioneering company in Kenya’s e-mobility sector, has deployed 24 electric buses with seven different bus operators in Nairobi. The company plans to deploy 1,000 locally assembled electric buses for Kenyan bus operators over the next three years, an investment that will create 300 green manufacturing jobs in the country.
Mr. Eide further highlighted the strong trade ties between Norway and Kenya, stating, “Trade between Norway and Kenya increased by 30 percent between 2021 and 2022, and the balance of trade is in Kenya’s favour. About 45 Norwegian companies are operating here – dealing with fertilizers and agritech, ICT, startups in different sectors, and renewable energy.”
The partnership between Norway and Kenya in the e-mobility sector underscores the shared commitment to sustainable development and addressing the pressing issue of climate change. By investing in electric vehicles and supporting local initiatives, both countries are paving the way for a greener, more sustainable future for Kenya’s public transport system.
