Spiro Secures $18M More from Africa Go Green Fund, Doubling Debt to $36M

Electric mobility firm Spiro has recently obtained an additional $18 million in debt financing from the Africa Go Green Fund (AGG), marking a doubling of its overall debt commitment to $36 million. Managed by Cygnum Capital, AGG is a climate-focused investment vehicle that has now allocated a total of $36 million to Spiro's growth.

This latest round of funding builds upon an initial debt facility finalized in December 2025, where AGG committed $18 million along with a $7 million contribution from Nithio. The expanded financing will be channeled toward expanding Spiro's electric motorcycle fleet and enhancing its battery-swapping infrastructure in Uganda and Rwanda.

Spiro currently operates over 135,000 electric motorcycles and has completed more than 50 million battery swaps across its markets as of September 2026. Laurène Aigrain, managing director at AGG, highlighted that the expanded investment reflects Spiro's operational progress and strong fund confidence. Spiro CEO Anant Badjatya confirmed that the financing will accelerate the company's regional footprint in Uganda and Rwanda.

The transaction underscores a growing surge in institutional investment interest in clean transport infrastructure across East Africa.