Billionaire, Mandla Lamba, owns 77.5 per cent of Agilitee, a company that manufactures and produces new electric vehicles, which is currently valued at $15.5 billion, making him Africa’s second richest man after Aliko Dangote.The Forbes data reveals the net worth of 18 African billionaires combined currently stands at $84.9 billion. However, the figure doubles the budget of Nigeria, the continent’s largest economy.The research also predicts that most of these billionaires have invested in areas like telecommunication, manufacturing, fashion and retail, construction as well as the mining sector.However, the tech industry is slowly emerging as one of the avenues targeted by billionaires across the continent. Lamba is among the continent’s billionaires that have tapped into The founder of Africa’s first Electric Vehicle Manufacturer, AI and Green Tech Company Agilitee. Dr Lamba’s net worth now stands at $ 15.5 billion. Agilitee is currently preparing for a Johannesburg Stock Exchange IPO listing, which will be the first EV, AI, and Green Tech IPO in Africa. With an initial public offering (IPO) value of $20 billion, the firm hopes to raise $2 billion by selling 10% of its equity through the Johannesburg Stock Exchange. Currently, Dr Lamba owns 77.5 per cent of Agilitee, which is presently valued at $15.5 billion. Agilitee recently expanded into Malawi, Kenya, and Ghana before beginning its long-delayed dealership in Zambia and Zimbabwe. 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. Dr Lamba in an interview with local South African media outlets revealed that they aim to create millionaires in the continent through IPO listing. Already, the firm is offering another 10% worth of $2 billion to Africa’s less fortunate, with the long-term goal of creating millionaires to alleviate poverty in Africa. IPO strategy Plan 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 listing may be in the UK, America, and Europe in a year after the completion of the IPO.” It
will depend on where most of the $2 billion come 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 transformed 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. Expansion Strategy The company has also formed Agilitee Americas, which covers the entire continent of North America, and Agilitee Asia, which covers the whole continent of Asia. In the next 12 months, the company plans to establish Agilitee Europe, Agilitee UK, Agilitee UAE, and Agilitee South America.