{"id":16763,"date":"2024-05-18T20:43:41","date_gmt":"2024-05-18T19:43:41","guid":{"rendered":"https:\/\/thedailyleaks.com\/?p=16763"},"modified":"2024-05-18T20:43:41","modified_gmt":"2024-05-18T19:43:41","slug":"spiro-agrees-to-50-million-debt-facility-with-afreximbank-to-accelerate-expansion","status":"publish","type":"post","link":"https:\/\/thedailyleaks.com\/spiro-agrees-to-50-million-debt-facility-with-afreximbank-to-accelerate-expansion\/","title":{"rendered":"Spiro agrees to $50 million debt facility with Afreximbank to accelerate expansion"},"content":{"rendered":"
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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 (Afreximbank).<\/p>\n

This landmark agreement was signed in Kigali during the Africa CEO Forum, highlighting Spiro’s commitment to enhancing sustainable transportation on the continent.<\/p>\n

The official signing ceremony took place in Kigali, Rwanda, featuring Spiro\u2019s CEO, Kaushik Burman, and Madame Kanayo Awani, Executive Vice President of Afreximbank.<\/p>\n

Spiro is the largest electric vehicle company in Africa, with over 14000 bikes, and over 9 million swaps in five countries.<\/p>\n

Operating across multiple African nations, Spiro’s mission is to reduce environmental impact and enhance urban mobility, build an integrated EV ecosystem in Africa with a multitude of partners and establish a wide range of charging infrastructure which includes battery swapping and direct charging.<\/p>\n

Afreximbank, known for its role in stimulating a consistent expansion and diversification of African trade, has been instrumental in fostering economic development across the continent.<\/p>\n

ALSO READ:\u00a0IFC, British International Investment, Proparco partner to support Sonatel\u2019s Telecoms expansion in Senegal<\/a><\/strong><\/p>\n

The bank’s support for Spiro not only highlights the potential of green technologies in Africa but also aligns with its broader strategy to facilitate environmental sustainability and economic resilience.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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“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

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<\/em> A motorbike taxi driver with a Spiro Electric Bike in Kigali<\/span><\/figcaption><\/figure>\n<\/div>\n<\/div>\n
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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":"\nSpiro agrees to $50 million debt facility with Afreximbank to accelerate expansion - The Daily Leaks<\/title>\n<meta name=\"description\" content=\"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 (Afreximbank)...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thedailyleaks.com\/spiro-agrees-to-50-million-debt-facility-with-afreximbank-to-accelerate-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spiro agrees to $50 million debt facility with Afreximbank to accelerate expansion - 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