Spiro Raises $100 Million to Expand Electric Mobility in Africa, Eyes Cameroon Market

(Business in Cameroon) – Spiro secured $100 million (CFA56.6 billion), the largest-ever investment in Africa’s two-wheeler electric mobility sector. The African Export-Import Bank’s investment arm, FEDA, contributed $75 million to finance expansion into Cameroon and Tanzania. The company plans to deploy over 100,000 electric motorcycles and expand its battery-swapping network by end-2025. Indian electric motorcycle manufacturer Spiro has raised $100 million (about CFA56.6 billion) to accelerate its expansion across Africa, marking a record investment in the continent’s electric two-wheeler industry. The company announced that $75 million of the total funding came from the Fund for Export Development in Africa (FEDA), the impact investment arm…