Spiro, an African electric mobility company, has appointed Ram Ramanathan as its new Group Chief Financial Officer as it accelerates electric motorcycle and battery-swapping expansion across the continent. The appointment was announced on September 25, bringing a seasoned finance executive into the leadership team at a time of rapid growth. Ramanathan is expected to play a central role in shaping the company's financial strategy and long-term resilience.
A Seasoned Financial Executive
Ramanathan joins Spiro with three decades of international finance and general management experience across major multinational companies and diversified groups. He previously held senior finance leadership roles at IFFCO Group, Landmark Group and PepsiCo, focusing on strategic finance, mergers and acquisitions, treasury, and corporate governance. Over his career he has worked across more than 90 countries, led 22 cross-border transactions, and helped arrange over $5 billion in equity and international debt financing.
CFO Mandate and Strategic Focus
As Group CFO, Ramanathan will lead the company's finance function and support its long-term financial strategy during continued continental expansion. His responsibilities include financial planning and performance, capital allocation, treasury, governance, and financing, while also supporting investments in vehicles, battery-swapping networks, manufacturing, and energy infrastructure. Group Chief Executive Officer Anant Badjatya said the new CFO brings valuable financial and strategic leadership as Spiro continues to scale.
Executive Perspectives
Ramanathan said his focus will be on building financial capabilities, governance structures, and capital frameworks that can sustain Spiro's expansion. He described the company as an exceptional platform operating at the intersection of mobility, energy, and technology. His appointment signals a sharper emphasis on financial discipline and governance as operations grow.
Funding and Market Momentum
The appointment follows a series of significant financing milestones for Spiro. In June the company closed a $270 million funding round after a $55 million investment from Chinese growth-stage fund NewTrails Capital, with the capital earmarked for battery-swapping, industrial, and electric vehicle infrastructure expansion across Africa. Earlier in February Spiro secured $50 million in debt financing from the African Export-Import Bank, Nithio and the Africa Go Green Fund managed by Cygnum Capital.
Infrastructure Expansion Across Africa
Spiro's operational footprint has continued to widen alongside its fundraising. On September 21 the Africa Go Green Fund announced an additional $18 million commitment, bringing its total financing commitment to $36 million to support electric motorcycles and battery-swapping infrastructure in Uganda and Rwanda. As of September 2026 the company reported more than 135,000 electric motorcycles deployed and over 50 million battery swaps completed across seven active African markets.
Manufacturing and Strategic Partnerships
Spiro is also deepening its local manufacturing and partnership base. The company recently announced a partnership with Chinese electric two-wheeler manufacturer Yadea to expand electric mobility across Africa. Spiro currently operates assembly facilities in Uganda, Kenya, Nigeria and Rwanda, reflecting its commitment to localising the value chain and building industrial capacity.
The appointment of Ram Ramanathan as Group CFO comes at a pivotal stage in Spiro's growth. With substantial new financing and expanding infrastructure, the company is positioning itself to scale sustainably across Africa. Strengthening its financial leadership is expected to reinforce governance, capital efficiency, and greater long-term investor confidence.