Uganda’s top electric motorcycle startup secures $3m funding

• UDB’s funding to Gogo is the fourth largest in Africa’s mobility sector in 2025 so far, and comes nearly a year after the firm raised a $1.6 million venture round in May 2024. Other startups in the sector that have raised more capital than Gogo this year include Togo’s Gozem ($30 million), Egypt’s Taager ($6.8 million), and Kenya’s Leta ($5 million).  

• Gogo’s latest funding round comes at a time when insufficient capital has been the main headache for electric mobility startups in Uganda, limiting their ability to invest in critical infrastructure such as charging and battery swapping stations. This has slowed the pace of EV adoption. 

• Our take: UDB provides a roadmap for government-owned development finance institutions across the continent to put their money where their mouths are to support Africa’s transition to electric mobility… Read more (2 min)

Kenyan vehicle leasing firm grows portfolio

• EVs are costly to buy upfront, making leasing a viable alternative. This is especially true for taxi operators, who are looking to keep down costs. In Kenya, charging an EV is already far cheaper than fuelling a car, making leasing economical for taxi operators.  

• Public transport vehicles, especially buses and minibuses, carry the lion’s share of urban passengers in Nairobi and other cities. Unlike motorcycles, electric matatus require predictable routes, charging hubs at termini, and careful battery range management, all of which demand tighter operational coordination.

• Our take: Taxi drivers prioritise daily profits over vehicle ownership. That makes an EV leasing model attractive, saving both operational and purchasing costs… Read more (2 min)

What do Indian hires say about Spiro’s growth strategy?

• Spiro began operations in Benin and Togo, West Africa, in May 2022. The company has since expanded to five more markets in Africa, namely Kenya, Uganda, Rwanda, Nigeria and Ghana. While Spiro plans further expansion in Africa, it is making a splash in India, the world’s largest country whose population is nearly on par with that of the African continent.

• The EV firm now has 96 workers in India, 62 of which joined in the last 12 months, highlighting Spiro’s growth strategy. This may mean India is becoming Spiro’s largest market by workforce, only behind Benin where it has 107 employees but more than Togo where the company has 74 staff. Others include Kenya (57), Nigeria (33), Rwanda (29), and United Arab Emirates (5). 

• Our take: As a leader in Africa’s electric motorcycle market, Spiro’s rapid expansion in India, which has seen it grow its workforce by 65% in the last 12 months alone, raises a lot of questions… Read more (2 min)