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The Independent UK
The Independent UK
National
Allan Olingo

Spiro secures $50 million from Afreximbank, others to expand Africa battery-swapping network

Spiro Africa Afreximbank
Africa-Electric Transport - (Copyright 2026 The Associated Press. All rights reserved.)

Financing for electric vehicle transport is ramping up in Africa as confidence rises in the potential for battery swapping, fast charging and other technologies.

Spiro, Africa’s largest electric mobility operator, has secured $50 million in debt financing from African Export-Import Bank (Afreximbank), U.S.-based climate fintech Nithio and the Africa Go Green Fund to expand its battery-swapping network.

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