Spiro Raises $100M to Power Africa’s Largest Electric Bike Expansion

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Spiro’s model tackles Africa’s most persistent barriers to EV adoption: affordability, infrastructure, and unreliable power supply. Its bikes sell for about $800 — roughly 40 % cheaper than new petrol models — and rely on a dense network of battery-swap stations instead of direct charging. This eliminates downtime for motorcycle taxi drivers, known as boda boda or okada riders, who cover 150 to 200 kilometres a day. The company has set up four assembly facilities in Kenya, Nigeria, Rwanda, and Uganda, producing both bikes and key components. Local sourcing is expected to rise from 30 % to 70 % by 2027. Backed by more than $280 million in total funding, Spiro is positioning itself as the continent’s dominant e-mobility platform. Beyond cutting transport costs and emissions, it aims to create thousands of jobs in manufacturing, logistics, and servicing. The scale of its ambition reflects a broader shift in Africa’s transport sector — from imported fossil-fuel motorcycles toward cleaner, locally assembled electric fleets.