Afreximbank says Spiro investment signals Africa’s battery ambitions

Africa Export-Import Bank (Afreximbank) says its $125 million investment in electric mobility company Spiro is part of a bigger plan to help Africa build its own battery industry, as the lender seeks to move the continent beyond exporting raw lithium and other critical minerals. Speaking during a press conference on Wednesday at the bank’s headquarters in Abuja, Afreximbank President and Chairman, George Elombi, said the institution is deliberately redirecting capital towards industries that wil