African Billionaire Embarks on Creating Millionaires on the Continent


Africa’s pioneer of Electric vehicles and green tech, Agilitee, has embarked on a journey to create millionaires on the Continet through public listing.

The green tech and electric vehicle manufacturer has recently opened operations in Zimbabwe and is on course on Malawi, Kenya and Ghana before embarking on its delayed dealership in Zambia.

Within the year in which the company announced a female Chief executive officer in Bonisile Roberts to lead the entity, South Africa based Agilitee, one of Africa’s fast growing green technology and electric vehicle manufacturing companies is poised to lead the revolution on the continent.

With its initial public offering (IPO) valued at $20 billion, it looks to raise $2 billion by selling 10 percent of its equity through the public offering through the Johannesburg Stock Exchange.

The tech industry forms a majority of the exemplary IPOs in recent times that have raised billions of dollars through IPOs in China and the United States.

Agilitee is not only a technology firm but a green technology firm operating in the electric vehicle space as well, which puts the firm in a very strategic and good position to attract major investors.

Like the blue-print laid by China and US, could the success of Agilitee’s IPO create some millionaires in Africa?

Already the firm is offering another 10 percent valued at $2 billion to the less fortunate in Africa with the long-term objective of raising millionaires to alleviate poverty in Africa.

Recently, the firm saw its founder Dr. Mandla Lamba, commute to become the board chairperson of the company that initially started in 2015 and was then formalised in 2018.

“We are the first electric vehicle manufacturer and green tech company in Africa, first black owned electric vehicles and black owned green tech company in the whole world.”

“I believe that is enough reason to count blessings. Recently we manufactured the first full AI television that has a telematics for voice recognition and instruction in Africa and the third in the world. A lot has been achieved over the years,” Agilitee Board Chairperson Dr. Lamba said.

Agilitee Pvt Ltd is eying secondary listings in Europe and the United States of America soon after starting the journey to its Initial Public Offering (IPO) on the Johannesburg Stock Exchange (JSE) earlier in June 2022.

The IPO which intends to raise US$2billion worth in a 10% stake in the business, means Dr. Lamba becomes the first African green tech revolution billionaire in US dollar terms.

Asked to share the company’s strategy post the IPO, Dr Lamba who recently appeared on the cover of one of Africa’s lading magazines, the Leadership, said, “We will maybe in a year after completion of the IPO look for secondary listing maybe in the UK, America and Europe. It will depend on where most of the US$2billion will come from”

In June 2022, Dr Lamba’s firm announced the appointment of AcaciaCap Advisors a JSE approved sponsor for Main Board companies which also acts as a Designated Advisor for the AltX listed companies.

With the IPO of its entire business, Agilitee intends to raise a total of $2 billion equity capital and this will be conducted through a global capital raising roadshow.

The company has just completed reorganization of its business from being a regional player to a global outfit. Agilitee has now formed regional structures under it, Agilitee Africa being the first one and it covers the entire continent of Africa, the company has also formed Agilitee Americas which also covers the whole of North America, Agilitee Asia also covering the whole of Asia.

The company is in the process of forming Agilitee Europe, Agilitee UK, Agilitee UAE and Agilitee South America in the next 12 months.

At the helm of Agilitee, Africa’s first Electric Vehicles Manufacturer, AI and Green Tech Company Agilitee is Dr. Mandla Lamba who is worth $15.5 billion.

Agilitee is currently cooking up a Johannesburg Stock Exchange IPO which is marked as the first EV, AI and Green Tech IPO in Africa, the IPO values Agilitee at $20 billion.

Dr. Lamba owns 77.5 % of Agilitee as stake that is currently valued at $15.5 billion.