
“This partnership with Afreximbank is a pivotal development for Spiro,” stated Kaushik Burman, CEO of Spiro.<\/p>\n
“The $50 million USD debt facility will significantly enhance our operational capabilities and help us expand our footprint to more African countries.<\/p>\n
It\u2019s a testament to the confidence in our business model and our contribution to sustainable development in Africa.”<\/p>\n
Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank, Afreximbank expressed enthusiasm about the partnership: “This partnership reaffirms our commitment towards fostering sustainable innovation and green technologies in Africa.<\/p>\n
We are happy to support Spiro through this facility which will in turn accelerate the adoption of electric vehicles and enhance transportation across Africa.<\/p>\n
This collaboration reaffirms our belief in the power of innovation to create a better world for future generations.”<\/p>\n
The funds will be utilized to further expand Spiro’s network of automated swap stations and introduce new electric bike models, enhancing the accessibility and convenience of green mobility solutions.<\/p>\n
As Spiro continues to lead the charge in transforming Africa’s transport ecosystem, this collaboration with Afreximbank marks a significant milestone in the journey towards a greener future.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Anish Jain, Group CEO of Equitane, expressed his support for this new venture, stating, “This partnership with Afreximbank marks a significant milestone in Spiro\u2019s journey.<\/p>\n
As part of the Equitane Group, Spiro embodies our commitment to pioneering solutions that promote sustainability and economic growth.<\/p>\n
We are proud to see Spiro take this remarkable step forward, paving the way for a cleaner, more sustainable future in African transportation.”<\/p>\n
Last August, Spiro announced a $63 million debt funding round with Societe Generale, in a deal designed to expand the company\u2019s footprint in Benin and Togo.<\/p>\n
<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Friday, May 17, 2024 — Spiro, the largest electric vehicle company in Africa, is pleased to announce it has signed heads of terms for a significant $50 million debt facility with the African Export-Import Bank […]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":16764,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,2],"tags":[3069,27,3068,3067,3066],"coauthors":[25],"class_list":{"0":"post-16763","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-top-news","9":"tag-afreximbank","10":"tag-africa","11":"tag-african-export-import-bank","12":"tag-electric-vehicle","13":"tag-spiro"},"yoast_head":"\n