African artificial intelligence innovator and biggest electrical vehicle manufacturer, Agilitee Limited has today announced the appointment of Professor JJ Tabane as its global board chairperson.
EV manufacturer firm is set to be listed on the JSE through a public offering of 10 % of its business for $ 2 billion.
The company said as part of the process to list, a board of directors was announced and submitted to the JSE earlier this week.
Agilitee founder and CEO Mandla Lamba said Tabane was no stranger to initiatives in the green economy, having played numerous roles such as head of the ministry of environmental affairs, head of communications for the World Summit on Sustainable Development and board chairperson of the Indalo Yethu Environmental Campaign.
“Prof Tabane is a business acumen ranging from media industry, he is also an author and we believe his leadership skills will go a long way in driving the firms’vision .He will lead a global board with members from Agilitee operations in the UK, US, Asia, Europe and Africa and is also a significant shareholder in the business who has advised the company for almost two years,” the company said.
Prof Tabane pointed out that “Working in a revolutionary green and Al (artificial intelligence) space is a privilege on opening a whole new carbon free future for our economy. I look forward to put into practice what I have been focusing on since my participation in the world summit in 2000 and looking forward to a successful IPO for Agilitee to go to new heights.”
Agilitee said it hoped to launch three electric vehicles and about 200 AI products later this year at the Johannesburg Expo Centre.
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The firm is following in the footsteps of many global tech groups such as Facebook and other big techs like Uber. These are IPOs that created billionaires and millionaires from staff to the early bird investors.
Agilitee is setting precedence for future digital IPOs in terms in term of empowering the commoners and when this IPO is concluded, it will create a lot of millionaires from investors beyond the company’s investors.
Facebook created 1000 millionaires and in 4 years the number had grown to 36000 millionaires and 12 billionaires, whereas Microsoft created 12000 on its IPO and 147, 000 millionaires 10 years later for those who held to their shares post IPO.
The firm is eyeing to create 100, 000 millionaires on IPO and 5 times 5 years post IPO for investors who decide to stay on. Agilitee is driven by impact over profit and it believes in this model if you are an investor who worries a lot then Agilitee is not your play.