Published on: Apr 17, 2026
SPIRO has announced new strategic partnerships in Togo aimed at improving financing options for customers purchasing electric motorcycles.
The agreements, finalised in April 2026, involve two established microfinance institutions: Millennium Microfinance, which will support customers in Lomé, and URCLEC, which will extend services to regions outside the capital through its network of eight outlets.
Under the partnerships, the microfinance institutions will handle the full financing process, including customer verification (KYC) and credit assessment.
SPIRO will focus on operational delivery, ensuring the availability of electric motorcycles and the supporting infrastructure, such as battery swapping stations.
Strategic Objectives of the Partnerships
The primary goal of these collaborations is to make electric mobility more accessible and affordable across both urban and rural areas of Togo.
By reducing financial barriers through tailored financing products, the initiative is expected to:
- Create new income opportunities for motorcycle operators and small-scale entrepreneurs.
- Accelerate the adoption of cleaner, commercially viable transport solutions.
- Expand SPIRO’s reach beyond major cities into secondary towns and rural communities.
This model allows SPIRO to concentrate on its core strengths, including vehicle supply, battery swapping infrastructure, and operational support while leveraging the microfinance partners’ expertise in credit delivery and risk management.
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Greater Relevance and Impact
Togo, like many African countries, faces challenges related to high transportation costs, reliance on fossil fuels, and limited access to affordable mobility options for the informal sector.
SPIRO’s electric motorcycle offering, combined with structured financing, addresses these issues by providing a cleaner, more cost-effective alternative to traditional petrol-powered motorcycles.
The partnerships are expected to stimulate local economic activity by enabling more individuals to own or operate electric vehicles, thereby generating sustainable livelihoods while contributing to environmental goals through reduced emissions.
Strategic Significance for SPIRO
This development represents a significant step in SPIRO’s expansion strategy across Africa.
By forming targeted local collaborations with established financial service providers, the company is able to scale its operations more efficiently and responsibly.
The approach also strengthens SPIRO’s position as a leading provider of sustainable mobility solutions on the continent.
The initiative stresses the importance of integrated ecosystems combining technology, infrastructure, and financing to drive meaningful adoption of electric mobility in emerging markets.
Spiro Overview
Spiro manufactures electric motorcycles with battery-swap technology and operates in Kenya, Nigeria, Rwanda, Uganda, Togo, and Benin.
Spiro Kenya prices
In Kenya, a Spiro electric motorcycle costs about KSh 195,000 – KSh 295,000 depending on financing terms. A deposit around KSh 20,000 is typically required, with the rest paid via asset financing.
Spiro M1
The Spiro M1 (450 M1) is a battery-swap electric motorcycle designed for boda-boda and delivery riders.
It uses removable batteries swapped at stations in about 2 minutes instead of charging.
Key features
- Electric motor (no fuel)
- Battery swap instead of charging
- Built for delivery and boda-boda use
- Lower running cost vs petrol bikes
- Connected GPS/IoT tracking
Spiro motorcycle
Spiro bikes operate on a battery-swapping network with thousands of batteries and swap stations across Africa, helping reduce downtime and fuel costs.
Spiro Nigeria
In Nigeria, Spiro cut the price of its Ekon electric motorcycle to about ₦1.44 million to boost adoption, with savings of up to 40% on fuel and maintenance.
