Dubai – Spiro, Africa’s leading electric mobility company, has announced the appointment of Ram Ramanathan as its new Group Chief Financial Officer (CFO).
Ramanathan brings three decades of extensive global finance and management experience from diverse multinational companies and sizable enterprises.
His comprehensive background includes proficiency in strategic and operational finance, M&A, capital raising, treasury oversight, corporate governance, financial transformation, and performance management across various sectors and markets.
Before joining Spiro, he held key finance leadership roles at IFFCO Group, Landmark Group, and PepsiCo, accumulating invaluable insights over his three-decade career in strategic finance, M&A, treasury, transformation, and governance.
Throughout his professional journey, he has worked in over 90 countries, led 22 cross-border transactions, and secured more than USD 5 billion in equity and international debt financing.
As the Group CFO, Ramanathan will manage Spiro’s financial operations and play a vital role in shaping the company’s long-term financial strategy as it continues to expand across Africa.
His responsibilities will include financial planning and performance, capital allocation, treasury management, governance, and financing, while further strengthening Spiro’s ongoing investments in vehicle production, battery-swapping solutions, and energy infrastructure.
Ramanathan’s appointment coincides with a critical period of growth for Spiro, following a series of significant financing milestones.
In 2026, the company successfully raised USD 270 million in equity to support its African expansion and recently secured additional debt financing, including USD 18 million from the Africa Go Green Fund.
These investments will propel Spiro’s continued growth, localize its value chain, and enhance the development of its manufacturing and battery-swapping networks across the continent.
Anant Badjatya, Group CEO of Spiro, stated: “Ram brings a remarkable wealth of financial and strategic leadership that will be essential as Spiro moves forward.
“His expertise in capital markets, M&A, treasury, and transformation will elevate our financial capacity and facilitate the next stage of our growth across Africa.
“As we continue investing in our operations and infrastructure, his skills will be vital to ensuring sustainable scaling.”
Ramanathan, the newly appointed Group Chief Financial Officer of Spiro, remarked: “Spiro has created an exceptional platform at the intersection of mobility, energy, and technology, possessing the scale and vision to fundamentally transform transportation throughout Africa.
“I am excited to join the company at such a pivotal point in its journey.
“My main objective will be to enhance the financial capabilities, governance, and capital structures necessary for Spiro’s sustained growth and to translate its substantial operational momentum into lasting long-term success.”
About Spiro: Spiro is the largest electric mobility enterprise in Africa, operating in seven countries and maintaining the continent’s most extensive and rapidly growing network of battery-swapping solutions for electric two-wheel vehicles.
With over 135,000 electric motorcycles, more than 2,500 battery swapping stations, and over 50 million battery swaps to date, Spiro has achieved over 2.5 billion kilometers of low-carbon emissions travel, reshaping mobility and economies by replacing expensive imported fossil fuel-based transportation with affordable, accessible, and sustainable alternatives.
Through its growing regional production network and operational assembly plants in Uganda, Kenya, Nigeria, and Rwanda, Spiro remains dedicated to delivering electric vehicles produced in Africa by Africans for Africa and beyond.
The post Spiro Appoints Ram Ramanathan As Group Chief Financial Officer appeared first on The Bulrushes.
