Dubai-based electric motorcycle manufacturer Spiro has secured $50 million in funding from the African Export-Import Bank to expand its operations across Africa.
The company currently operates around 80,000 motorbikes and 2,500 battery swapping stations across Benin, Kenya, Nigeria, Rwanda, Togo, and Uganda. Spiro entered Cameroon in May 2025 and plans to establish full operations in Douala, the country’s largest city and commercial hub.
This latest funding follows a $100 million raise in October 2025. The capital will be used to scale production and deploy more vehicles and battery swapping infrastructure in urban areas where electric vehicle adoption is growing and competition is increasing against dominant Chinese manufacturers.
Spiro’s largest presence is in East Africa, supported by government policies encouraging the adoption of electric vehicles and limiting new petrol-powered commercial vehicles. In Nigeria, Africa’s largest market, the company is taking a more measured approach, assessing macroeconomic conditions and fuel market trends before fully scaling operations.
The expansion is part of a broader effort to strengthen Africa’s EV ecosystem, improve access to electric mobility, and meet growing demand for sustainable urban transport solutions.
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