Spiro, an electric two-wheel mobility company, has secured $100 million to accelerate Africa's sustainable transport future.
The funding, led by Afreximbank's Fund for Export Development in Africa (FEDA), will scale battery-swapping infrastructure, vehicle production, and support the deployment of over 100,000 electric bikes by end-2025 in Kenya, Uganda, Rwanda, Nigeria, Benin, Togo, Tanzania, and Cameroon.
Africa's Electric Mobility Revolution Accelerates
Spiro's $100 million breakthrough marks Africa's largest electric mobility investment to date.
The initiative, which targets a vast shift from petrol-powered motorcycles, especially across the continent's boda-boda and okada economies, thereby reducing soaring emissions and fostering domestic manufacturing capacity.
Scaling Battery Swaps and Affordable EVs
The funding will scale a network of between 1,200–1,500 battery swap stations and affordable $800–$1,000 bikes.
This will help eliminate charging delays and reduce daily rider costs by $3. Public deployment already exceeds 60,000 electric bikes and between 25–27 million battery swaps in 2025, showcasing a growing impact across urban and peri-urban areas.
Driving Down Costs, Emissions, and Creating Jobs
The business model significantly cuts fuel expenses, boosts driver incomes, and mitigates urban pollution, potentially curbing issues related to respiratory diseases and dependence on imported fuel.
By integrating renewables and local manufacturing (aiming for 70% local content by 2027), Spiro promises jobs from assembly to operations, with a tangible environmental dividend if charging networks run on green energy.
Addressing Risks and Unlocking Industrial Potential
Though rapid scaling brings with it challenges in areas such as supply chain, skills, and battery lifecycle management, Spiro and partners are amplifying local sourcing, technician training, and partnerships for recycling.
This is expected to lay the groundwork for a robust, continent-wide clean transport industry.
Path Forward – Towards Inclusive, Sustainable Transport Transformation
If executed well, this investment sets Africa on a course to exportable, scalable electric mobility.
It will enable climate-resilient infrastructure, support small operators, and redefine the transport value chain through public-private action, thereby turning short-term subsidy into lasting socio-economic impact.
Key Metrics Table: Spiro Electric Two-Wheel Rollout (2025)
| Metric | Value/Detail |
| Target Bikes by End 2025 | 100,000 |
| Current Bikes Deployed | 60,000 |
| Battery Swap Stations | 1,200–1,500 |
| Total Battery Swaps (2025) | 25–27 million |
| Average Rider Savings Per Day | $3 |
| Geographic Reach | 8 countries (including pilots) |
Key Metrics: Spiro's Electric Two-Wheel Rollout Across Africa (2025)
