Spiro Partners with Yongeza Capital to Further Electrify Uganda’s Boda Boda Fleet

Electric vehicle company Spiro has announced a transformative partnership with Yongeza Capital to electrify Uganda’s boda boda fleet. This ambitious initiative kicks off with the opening of the first swap station in Mbarara City alongside the franchise partnership launch, setting the stage for a nationwide rollout starting this June.

Under this strategic alliance, Spiro will extend our innovative electric bikes and advanced battery swapping technology across Uganda, beginning with Mbarara City. This initial phase will see bikes on the road by June, marking a significant milestone in the country’s journey towards sustainable urban mobility. The partnership aims to expedite the adoption of electric vehicles, focusing on high-density boda boda areas to ensure a swift and impactful transition to green transportation.cities.

Already operational with 22 swap stations in Kampala, Spiro Uganda’s collaboration with Yongeza Capital is poised to expand these facilities significantly. Financing options are being facilitated through Mogo and other financial partners, providing accessible and economical solutions for boda boda riders.

Collin Mugisha, CEO/Founder of Yongeza Capital, emphasized the sustainable vision of the partnership, “Our collaboration with Spiro is about fostering a sustainable urban ecosystem. By targeting critical urban areas like Mbarara City for our initial rollout, we aim to demonstrate the tangible benefits of electric bikes, not only for cost savings but also for environmental conservation.”

Kaushik Burman, CEO of Spiro, says “This June, as we launch our first swap station in Mbarara City and introduce our bikes, we’re setting the foundation for a more sustainable Uganda. Our partnership with Yongeza Capital is pivotal in ensuring that the benefits of electric mobility reach every corner of the country.”

This partnership between Spiro and Yongeza Capital will benefit the boda boda sector by providing sustainable, economical, and high-quality transportation solutions. It is a significant step towards achieving urban sustainability and reducing carbon emissions in Uganda’s bustling cities.

Spiro is a part of the Equitane Group. Equitane is a global conglomerate focused on creating sustainable and innovative solutions across diverse industries. With a mission to lead responsible development worldwide, Equitane invests in and supports companies that align with its vision of integrating sustainability into business practices. The group is made up of leading subsidiaries in sectors such as renewable energy, healthcare, agribusiness, and technology, each contributing uniquely to our collective impact.

Eric Geno