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Africa’s second richest man creates 1000 millionaires

Africa’ second richest man and Agilitee founder Dr. Mandla Lamba

Africa’s second richest man and Agilitee founder Dr. Mandla Lamba (PHOTO/Courtesy)

South African Billionaire, Dr. Mandla Lamba who is the founder of Africa’s first Green Revolution and AI Company and the world’s first black-owned, Agilitee decided to take Agilitee public through an IPO on the Johannesburg Stock Exchange.

The IPO is advised by AcaciaCap Advisors who have done multiple such transactions including doing the second listing on the Johannesburg Stock Exchange for 2022.

AcaciaCap Advisors was established based on 20 years of a professional and highly experienced team.

To this day, the company provides a comprehensive range of integrated corporate finance and listing-related advisory services to a wide spectrum of entrepreneurial businesses across various industries.

The IPO values Agilitee at $20 billion and Lamba owns 77.5% of the company after giving away 10% of his shares to previously disadvantaged people in Africa.

The billionaire decided to give away 10% worth $2 billion, as of today he has donated $250, 000 000 worth of shares and created a little over 1000 millionaires.

By the end of 2020, China had witnessed a strong economic shock but a ‘V’-shaped economic recovery and growth, the world has never seen. A V-shaped recovery is a quick, sharp improvement in an economy after a sharp decline.

The COVID-19-stricken Asia nation added $1.5 trillion to the wealth of China’s billionaires bringing to $4 trillion the total worth of China’s billionaires, according to a new report which described the increase as the country’s fastest growth ever.

This is attributed to the spate of initial public offers (IPOs) and robust tech growth in recent times.

China’s soaring stock markets, a flood of initial public offerings, and surging growth in the sector have been identified as what has helped to fuel the country’s latest wealth boom.

In the United States, for instance, it has been observed that since the 1980s when Apple Inc went public, Google in 2004, and Facebook in 2012, instant millionaires were created.

Lamba took it to his social media platform last night that he has created 1000 millionaires for the glory of God and said he will continue until 50, 000 millionaires Pre-IPO.

Some of the greatest benefactors of these shares have been the members of club Mandla Lamba Billionaires Club (MLBC) where over 300 millionaires have been created. The Billionaire who has a heart of gold has taken leave from work effective today as is the first holiday in three years.

The philanthropist early this month announced that Agilitee will give away electric scooters to the less privileged youths and school-going children to alleviate poverty.

Visionary and fast-rising entrepreneur  Agilitee founder Mandla Lamba who grew up in a very poor village where he walked 30 kilometres barefooted to school could not hold his tears as he announces the initiative on his Facebook page to help school-going kids with electric scooters to help them navigate the long distances.

This comes right after Agilitee appointed the media mogul Prof JJ Tabane as the new Chairman for global operations. Prof Tabane has been with Agilitee for 2 years as an advisor and is also now a billionaire through Agilitee with a net worth of R2.1 billion.

Also joining Tabane on the board are top labour expert, Professor Mthunzi Mdabwa (Chair of Productivity SA) and Ms Delene Mark (CEO of Hope Africa), Dr Noour Ali Zaheer (CEO of Agilitee Asia Limited), and Mr. Raynard French (Senior IT Business Partner in Dallas Texas) amongst other top executives appointed to join the Global board.

Recently the Electric Vehicles manufacturer, Agilitee announced an integrated system to charge cars in apartments and townhouses as a back to raging power cuts that is affecting the region.

The charging system help new properties and already developed real estates to convert their parking bays into EV Charging Facilities and Backup electricity for their estates.

This initiative comes after South Africa’s Eskom is struggling to generate sufficient power due to neglected maintenance, and the high indebtedness of the state-owned power utility resulting into extensive power cuts

The company has also come up with the fastest EV Charger in the whole world that can fully charge an electric car within 5 to 15 minutes depending on the motor.

Data from Statista indicates that South Africa is the most advanced e-mobility market in Africa with about 1,000 electric vehicles (EVs) in January 2022 or about 0.008% of its national automobile fleet.

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