Spiro acquires Coexlion, builds R&D center as African e-mobility scales

Nairobi-based e-mobility startup Spiro has acquired Coexlion, a UK-India engineering consultancy specializing in two-wheelers and EVs, with plans to build a dedicated R&D center in Kenya. This strategic move comes as Spiro's 95,000 electric motorcycles now dominate Africa's mobility landscape, capturing 52% of new electric motorbike sales in Kenya alone.

The acquisition addresses a critical challenge: most African EVs are designed elsewhere and poorly adapted to local conditions. Spiro's 30 million battery swaps reveal rough terrain, inconsistent roads, heat, dust, and motorcycle taxi weight demands that standard designs don't accommodate. With the R&D center, Spiro aims to become Africa's most purpose-built mobility operator.

Meanwhile, Wasoko co-founder Daniel Yu launched the Africa Jobs Fund (AJF), targeting a $100 million investment over five years. AJF focuses on export manufacturing and international labor mobility—addressing Africa's labor math: 10-12 million young Africans enter the workforce yearly but only 3 million formal jobs are created. Absa also recruited Leon Barnard from Standard Bank to lead its business banking unit, signaling continued executive talent flow between Africa's financial giants.

What's your perspective: Should African startups focus on solving local problems first (like Spiro's adaptation strategy) or pursue rapid scaling with global designs?

SOURCE: https://techcabal.com/2026/05/28/techcabal-daily-spiro-acquires-coexlion/