Is Lamba Africa’s second richest man in Africa?
By Teddy Mkwesha
With the world slowly moving away from fuel powered vehicles, the future is in electric vehicles.
Elon Musk is now the world’s richest man thanks to his foresight and investment in Tesla. The company has seen its shares quadrupling in recent years.
Another man who has been silently building his empire in the electric motor industry is Dr Mandla Lamba.
Lamba owns 77.5 percent of Agilitee, which is currently valued at $15.5 billion, making him Africa’s second richest man after Aliko Dangote.
Meet Dr. Mandla Lamba, Africa’s $15.5 billion man and the founder of Africa’s first Electric Vehicle Manufacturer, AI and Green Tech Company Agilitee. Agilitee is currently preparing for a Johannesburg Stock Exchange IPO, which will be the first EV, AI, and Green Tech IPO in Africa.
The IPO will value Agilitee at $20 billion, making the founder extremely wealthy.
Lamba owns 77.5 percent of Agilitee, which is currently valued at $15.5 billion, making him Africa’s second richest man after Aliko Dangote.
Agilitee, Africa’s pioneer in electric vehicles and green technology, has set out on a mission to create millionaires on the continent through public listing.
The green technology and electric vehicle manufacturer recently opened operations in Zimbabwe and plans to expand into Malawi, Kenya, and Ghana before beginning its long-delayed dealership in Zambia.
Agilitee, one of Africa’s fast growing green technology and electric vehicle manufacturing companies, is poised to lead the revolution on the continent after announcing a female Chief Executive Officer in Bonisile Roberts to lead the entity earlier this year.
With an initial public offering (IPO) value of $20 billion, it hopes to raise $2 billion by selling 10% of its equity through the Johannesburg Stock Exchange.
The tech industry has been responsible for the majority of the outstanding IPOs in recent years, raising billions of dollars through IPOs in China and the United States.
Agilitee is not only a technology company but also a green technology company that operates in the electric vehicle space, which puts the company in a very strategic and good position to attract major investors.
Could the success of Agilitee’s IPO create some millionaires in Africa, as China and the US have done?
Already, the firm is offering another 10% worth $2 billion to Africa’s less fortunate, with the long-term goal of creating millionaires to alleviate poverty in Africa.
After launching its Initial Public Offering (IPO) on the Johannesburg Stock Exchange (JSE) in June 2022, Agilitee Pvt Ltd is eyeing secondary listings in Europe and the United States of America.
The IPO, which aims to raise US$2 billion for a 10% stake in the company, makes Dr. Lamba the first African green tech revolution billionaire in US dollar terms.
When asked about the company’s post-IPO strategy, Dr Lamba, who recently appeared on the cover of one of Africa’s leading magazines, the Leadership, said, “We will look for secondary listings maybe in the UK, America, and Europe in a year after the completion of the IPO.” It will depend on where the majority of the $2 billion comes from.”
Dr. Lamba’s firm announced the appointment of AcaciaCap Advisors, a JSE approved sponsor for Main Board companies that also serves as a Designated Advisor for AltX listed companies, in June 2022.
Agilitee intends to raise a total of $2 billion in equity capital through the IPO of its entire business, which will be conducted through a global capital raising roadshow.
The company has recently completed its transformation from a regional to a global player. Agilitee has now formed regional structures under it, the first of which is Agilitee Africa, which covers the entire continent of Africa.
The company has also formed Agilitee Americas, which covers the entire continent of North America, and Agilitee Asia, which covers the entire continent of Asia.
In the next 12 months, the company plans to establish Agilitee Europe, Agilitee UK, Agilitee UAE, and Agilitee South America.
