Spiro secures $50m debt funding from Afreximbank to expand electric vehicles in Africa
- Spiro has signed a $50 million debt financing deal with Afreximbank to expand its offering in its existing markets.
- The company operates in six countries and plans to expand to Cameroon and Morocco this year.
- Spiro aims to become the largest operator of electric motorbikes in Africa and has deployed thousands of motorbikes in various African countries.
Spiro's expansion plans and focus on electric motorbikes in Africa show a promising opportunity for growth in the region's electric vehicle market. The company's investment in technology and ride-hailing services demonstrates a commitment to creating a sustainable and convenient electric vehicle ecosystem. With the expected market growth and the support of investors, Spiro has the potential to become a key player in Africa's electric vehicle industry.
