The electric motorcycle manufacturer Spiro has signed a $63 million loan agreement with the banking group Société Générale, acting through its subsidiaries in Togo and Benin. This agreement is part of this company's desire to expand its activities in French-speaking West Africa, where it has been present for more than a year.

Spiro obtained a loan from Société Générale to finance its expansion project. It will receive an initial instalment of 35 million dollars, 70% of which will be guaranteed by GuarantCo. The electric mobility company, present in Benin, Togo, Rwanda and Uganda, will use the funds to acquire new bikes and install battery charging and exchange stations in Benin and Togo. In fact, it plans to add more than 15,700 additional electric motorcycles to its fleet.

Le directeur général de Spiro, Jules Samain estime que le partenariat avec Société Générale and GuarantCo will expand the company's current electric mobility offering in Benin and Togo. The project targets nearly 400,000 bicycle taxi users in these two West African countries