The Fund for Export Development in Africa (FEDA), the investment arm of Afreximbank, has announced a $75 million investment in Spiro, an electric mobility company, according to official statements from Afreximbank and FEDA. The funding aims to expand electric vehicle infrastructure and battery swapping systems across multiple African markets. The initiative seeks to promote cleaner mobility, reduce transport costs, and accelerate the continent’s energy transition under Afreximbank’s industrial development priorities.
