The effect of iron and manganese co-doping on the light-induced, dark- and photoconductivity and holographic properties of Bi4Ge3O12 crystals in comparison with Fe- and Mn-single doping is studied. Fe+Mn co-doped crystals exhibited strong photochromic effect at room temperature, the photochromic effect being fully reversible by thermal annealing. The observed light-induced absorption changes and non-linear dependence of photoconductivity on light intensities indicate deep and shallow photoactive levels contribution to the charge transport mechanism of Fe+Mn co-doped BGO. Holographic gratings are successfully recorded at different wavelengths and a possibility to extend the photorefractive sensitivity into the red spectral range is demonstrated. It is found furthermore that Fe+Mn-doping combination leads to faster response time during holographic recording, especially after a preliminary exposure with ultraviolet light, in comparison with Fe- and Mn-single doping.