US EditionFEDA Announces Strategic Investment in Spiro to Accelerate Africa's Electric Mobility Transition
FEDA’s $75 million investment supports Spiro’s local manufacturing and battery swapping network expansion, enabling over 60,000 electric motorbikes and 1,200 stations across Africa.
- On 10 November 2025 in Kigali, Rwanda, the Fund for Export Development in Africa announced a $75 million investment in Spiro, described as Africa's leading electric two‑wheel assembler.
- The investment aims to replace expensive imported fossil-fuel transport with affordable, locally made electric mobility while fostering skills and technology transfer and creating jobs amid pro-electric vehicle policies in African markets.
- Operating across 6 countries, Spiro has delivered over 800 billion kms of CO2‑free travel, crossed 26 million battery swaps, and operates more than 1,200 swapping stations.
- The partnership will stimulate local vehicle manufacturing and strengthen regional integration, while expanding Spiro's battery‑swapping network and integrating renewable energy into its energy mix.
- The deal fits Afreximbank's broader strategy to develop integrated manufacturing ecosystems and leverages its scale—total assets over US$40.1 billion—and US$10 billion Adjustment Fund to support industrialisation.
12 Articles
12 Articles
FEDA Announces Strategic Investment in Spiro to Accelerate Africa's Electric Mobility Transition
Kigali, Rwanda, 10 November 2025: The Fund for Export Development in Africa (FEDA), the development equity impact investment arm of African Export-Import Bank (Afreximbank), has announced a $75 million investment in Spiro, the leading electric two-wheel assembler in Africa with the fastest growing battery swapping infrastructure. This investment is fully aligned with Afreximbank's broader automotive strategy, to develop integrated manufacturing …
How serious are safety concerns around Spiro electric motorcycles?
Government institutions, including the Ministry of Trade and Industry (MINICOM), have said they are closely monitoring concerns raised by riders of Spiro electric motorcycles, following recent reports of battery faults and maintenance challenges. In a joint follow-up statement released on Tuesday, November 11, MINICOM said it was working with the Rwanda Inspectorate, Competition and Consumer Protection Authority (RICA), the Rwanda Standards Boar…
Afreximbank Invests US$75 Million in Electric Motorcycle Firm Spiro
Afreximbank Hq The Fund for Export Development in Africa (FEDA) has committed $75 million to Spiro, the continent’s largest electric motorcycle operator, marking a major push toward clean transportation across African markets. FEDA, the impact investment division of the African Export-Import Bank (Afreximbank), announced the deal on Monday. The investment targets expansion of battery-swapping infrastructure [...]
FEDA Announces Strategic Investment in Spiro to Accelerate Africa’s Electric Mobility Transition
KIGALI, Rwanda, November 10, 2025/ -- The Fund for Export Development in Africa (FEDA), the development equity impact investment arm of African Export-Import Bank (Afreximbank), has announced a $75 million investment in Spiro, the leading electric two-wheel assembler in Africa with the fastest growing battery swapping infrastructure. This investment is fully aligned with Afreximbank’s broader
Electric cars in Africa: Hype or the next big leap? - Prime Progress NG
By Agbai Sharonjoyce Much of the world today has taken a digital shift. Artificial intelligence is becoming more advanced. The advent of electric cars has revolutionised the transportation system globally. But can Africa keep up with the trend, with its manifold woes? Globally, countries like China and the US have been leading the charge. Thanks to partnerships between governments and private businesses, electric cars have been making inroads …
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