Spiro, the largest electric vehicle company in Africa, is charging ahead in its mission to revolutionise sustainable transportation across the continent and it recently signed a heads of terms agreement for a $50 million debt facility with the African Export-Import Bank (Afreximbank) at the Africa CEO Forum in Kigali, Rwanda.
A statement made available to Business a.m. said the landmark agreement, signed by Kaushik Burman, chief executive officer of Spiro, and Kanayo Awani, Afreximbank’s executive vice president, reflects the shared commitment to promoting environmentally friendly mobility solutions in Africa.
Spiro is regarded as the largest electric vehicle company in Africa, and boasts an impressive track record in sustainable transportation. It has over 14,000 bikes and more than nine million battery swaps across five countries, and stated that it is revolutionising urban mobility and reducing environmental impact.
Spiro stated that its mission is to create an integrated EV ecosystem in Africa, fostering partnerships and establishing a diverse range of charging infrastructure. From battery swapping to direct charging, the company aims to make sustainable transportation accessible to all, addressing the unique challenges faced by the continent.