Spiro, Africa’s largest electric mobility operator, has raised US$50 million in debt financing from Afreximbank, Nithio, and the Africa Go Green Fund.
The capital will accelerate the company’s rollout of battery‑swapping stations, expand electric motorcycle operations, and integrate renewable energy solutions across the continent.
This follows Spiro’s US$100 million investment in October 2025, previously the largest financing deal in Africa’s e‑mobility sector.
Scaling Infrastructure Across Africa
Spiro already operates more than 2,500 battery‑swapping stations and has deployed over 80,000 electric motorcycles in Kenya, Uganda, Rwanda, Nigeria, Benin, and Togo. Pilot programs are underway in Cameroon and Tanzania.
The company has completed 30 million battery swaps, circulated 300,000 batteries, and enabled riders to travel over one billion kilometres of CO₂‑free journeys.
“With strong financial backing and cutting‑edge technology, Spiro is leading Africa’s transition to sustainable mobility. This new funding reinforces our vision of building a robust, scalable energy network tailored for Africa by Africans,” said Kaushik Burman, CEO of Spiro.
Technology and Renewable Integration
The new capital will support:
- Automated battery‑swap systems for faster turnaround.
- Fast‑charging technology to reduce downtime.
- Renewable energy integration to power stations sustainably.
Spiro maintains regional production and assembly facilities in Kenya, Uganda, Nigeria, and Rwanda, strengthening local supply chains and industrial capacity.
Investor Confidence in Clean Transport
Laurène Aigrain, Managing Director of Africa Go Green Fund, emphasized the impact:
“Spiro has built a strong platform delivering tangible impact across multiple African markets; we are pleased to support the next phase of its growth as it scales critical clean mobility infrastructure.”
Nithio’s Chief Investment Officer, Raghav Sachdeva, added:
“We see e‑mobility as a critical pillar of Africa’s clean energy transition.”
Afreximbank framed its support as central to sustainable industrialization:
“Driving Africa’s transition to electric mobility is central to how we view sustainable economic development across the continent,” said Oluranti Doherty, Managing Director for Export Development.
Rising Momentum in Africa’s E‑Mobility Sector
Spiro’s financing comes amid a surge of investor interest in clean transport:
- Arc Ride secured US$5 million from IFC.
- Gogo Electric, a Ugandan e‑bike startup, raised US$1 million from ElectriFi.
Since 2022, Spiro has raised more than US$230 million, underscoring the growing flow of climate‑focused capital into Africa’s e‑mobility industry.
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