Spiro enters Tanzania and Cameroon

From the newsletter

Africa’s leading electric motorcycle company Spiro has launched in Tanzania and Cameroon, increasing its operations to eight countries. It also operates in Togo, Benin, Kenya, Uganda, Rwanda and Nigeria and is targeting to expand into new markets such as Angola and DR Congo. The company has sold more than 22,000 motorcycles since it was founded in 2019. 

• Spiro’s entry into Tanzania and Cameroon is part of its grand plan to expand across Africa, where demand for electric motorcycles is growing fast. The two countries have only a few operators, making them ripe for disruption. 

• To fuel its expansion drive, Spiro has been raising significant capital from investors in recent years. The firm plans to grow its network of battery swapping and charging infrastructure, and introducing new electric bike models. 

More details

• Spiro’s expansion into Tanzania and Cameroon is part of a broader strategy to scale electric motorcycles in Africa. In Tanzania, it plans to establish or partner with local assembly facilities to reduce reliance on imports and lower vehicle costs. The company is also developing a robust charging infrastructure with both battery swapping and direct charging options.

• In recent years, Spiro has raised significant amounts of capital for expansion, including a $50 million loan from Afreximbank and a $63 million loan from Societe Generale. In addition to these debt facilities, Spiro is also actively seeking to raise between $100 million and $150 million in equity financing to fund further expansion into new African countries. 

• This has been crucial in helping the company expand aggressively and fund the establishment of critical infrastructure like battery swapping stations. “Spiro is now operational in 8 countries, including new markets of Tanzania and Cameroon,” said Spiro CEO Kaushik Burman.

• The company has also become one of the largest recruiters in Africa’s mobility sector to support its growth. Analysis by Mobility Rising shows that Spiro hired more than 218 staff over the 12 months leading up to April 2025. This is more than any other electric motorcycle company on the continent.  

• Spiro is however facing increasing competition in its key markets by other electric motorcycle startups, some of which have been in the markets longer than itself. In Kenya, it competes with the likes of Ampersand, ARC Ride and Roam, in Uganda, there is stiff competition from Gogo Electric and Zembo, while in Nigeria, it faces stiff competition from Siltech.

• The company, which is owned by Dubai-based investment firm Equitane Group, is however riding these challenges and plans to get ahead of competition through increased production capacity. Spiro has a 50,000-capacity assembly plant in Kenya and is building another one with the same size in Uganda. In Nigeria, it is building an assembly plant capable of producing 100,000 motorcycles annually, the largest in Africa. 

Our take

• While Spiro faces growing competition from other electric motorcycle startups, some of which are well funded, its aggressive hiring strategy positions could pull it ahead of the pack. Its high-capacity assembly plants in key markets also signal a strong push to outproduce and outperform rivals.

• Spiro is investing heavily in local assembly facilities, reducing reliance on imports while cutting costs for riders. The expansion of battery-swapping stations and charging networks ensures widespread accessibility, which could prove pivotal in acquiring and retaining customers. 

• The millions of dollars that Spiro has raised over the years from a wide array of funders highlights the significant capital required to scale operations. This funding is crucial for hiring workers and fast-tracking growth of infrastructure such as assembly plants and battery-swapping stations.