Batteries exchanged instead of recharged
Spiro supplies electric motorcycles alongside stations where riders exchange depleted batteries for charged ones. At the announcement, it had deployed more than 80,000 bikes and operated over 2,500 swap stations across its African markets.
Financing the network
Afreximbank and Africa Go Green Fund led the $50 million debt financing, with Nithio as a co-lender. The capital supports network expansion, automated battery swaps, fast charging and integration of renewable power.