Africa: Spiro Raises $50 Million to Accelerate Pan-African Electric Mobility Expansion
AllAfrica
February 25, 2026
AI-Generated Deep Dive Summary
Spiro, Africa's leading electric mobility company and battery swapping pioneer, has secured $50 million in debt funding from Afreximbank, Nithio, and the Africa Go Green Fund managed by Cygnum Capital. This new capital injection will accelerate Spiro's expansion across Africa, enhancing its battery swapping network and advancing its proprietary technology platform, which includes automated swaps, fast charging, and renewable energy integration. The funding comes on the heels of Spiro's $100 million investment in 2025, marking a significant milestone in African electric mobility.
The company's growth underscores the demand for sustainable transportation solutions in Africa. Spiro currently operates in six countries—Kenya, Uganda, Rwanda, Nigeria, Benin, and Togo—and has deployed over 80,000 electric bikes, completed more than 30 million battery swaps, and established over 2,500 swap stations. These efforts have enabled over one billion CO₂-free kilometers traveled, demonstrating the company's impact in reducing emissions and promoting clean energy.
Spiro's success highlights the potential of locally developed solutions to address global challenges. By combining local insights with global best practices, Spiro is building a resilient green energy ecosystem that supports economic development and climate goals. The company's vision aligns with the UN Sustainable Development Goals, focusing on clean energy, sustainable cities, and climate action.
This funding round reflects the growing recognition of electric mobility as a critical component of Africa's clean energy transition. Investors are drawn to Spiro's ability to scale rapidly while delivering real economic value and environmental impact. With strong financial backing and cutting-edge technology, Spiro is poised to lead Africa's shift toward sustainable mobility, fostering innovation and creating a greener future for millions of Africans.
Spiro's expansion across the continent not only addresses transportation needs but also supports job creation and economic growth. By promoting affordable clean energy solutions
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Originally published on AllAfrica on 2/25/2026