Making the existing network denser
The financing supports motorcycle deployment and additional battery-swapping infrastructure in Uganda and Rwanda. More bikes and convenient access to charged batteries allow Spiro to serve more riders and increase use of its existing network.
A further commitment from the lender
Africa Go Green Fund, managed by Cygnum Capital, increased its commitment by $18 million to $36 million. By September, Spiro had deployed more than 135,000 electric motorcycles and completed over 50 million battery swaps across seven countries.