Africa Go Green Fund has increased its financing commitment to Spiro by an additional $18 million, bringing its total investment in the African electric mobility company to $36 million. The new funding strengthens the partnership between the two organisations and will support Spiro as it expands its electric motorcycle operations and battery-swapping network across East Africa.

The latest commitment builds on an $18 million debt facility provided by Africa Go Green Fund in December 2025, alongside $7 million from Nithio. Africa Go Green Fund also played a leading role in structuring the original financing.

Spiro has continued to grow its electric mobility network across African markets. As of September 2026, the company has deployed more than 135,000 electric motorcycles and completed over 50 million battery swaps.

The additional financing will help Spiro deploy more electric motorcycles and expand its battery-swapping infrastructure in Uganda and Rwanda. The company has also introduced mega battery-swap stations in Kenya and Rwanda to make battery access faster and more convenient for riders.

For electric motorcycle users, battery availability remains an important part of making electric transport practical. Spiro’s swapping model allows riders to exchange depleted batteries for charged ones instead of waiting for their motorcycles to recharge.

The company combines electric motorcycles with a large battery-swapping network. This approach is also designed to reduce the upfront and running costs that can make electric mobility difficult to adopt, while giving riders easier access to charged batteries.

The new financing will allow Spiro to increase the number of motorcycles on its network and make greater use of its existing swap stations. As more riders join the network, the company expects its recurring battery-swapping model to support the wider adoption of lower-carbon transport.

Laurène Aigrain, Managing Director of Africa Go Green Fund, said the decision to increase the investment reflects Spiro’s progress since the original financing. She also pointed to the company’s role in making electric mobility more accessible while helping reduce transport emissions.

Spiro founder Gagan Gupta described the additional commitment as a strong sign of confidence in the company’s progress and the wider potential of electric mobility in Africa.

Anant Badjatya, Group CEO of Spiro, said the funding would help the company accelerate its work in Uganda and Rwanda. The focus will be on deploying more electric motorcycles, expanding battery-swapping infrastructure and building a stronger network for riders.

Africa Go Green Fund provides debt financing to businesses and projects working to reduce greenhouse gas emissions across Africa. Its investment in Spiro forms part of its wider focus on commercially viable businesses that combine climate impact with sustainable growth.

As electric mobility continues to develop across African cities, Spiro’s latest financing could help expand the infrastructure needed to make electric motorcycles more practical for everyday riders. With more motorcycles, swap stations and battery exchanges, how far can this model go in changing urban transport across Africa?

At TheGreyIT, we believe Africa’s electric mobility growth will depend not only on putting more electric vehicles on the road, but also on building the infrastructure that makes them easy and affordable to use.