Fast rising South Africa based industrialist and billionaire, Dr. Mandla Lamba who commenced donating shares to the previously disadvantaged Africans in July 2022 right after the company he founded 4 years ago started an Initial Public Offering (IPO) on the Johannesburg Stock Exchange has now started to donate the remaining $1.5 billion worth shares to churches across the continent.
He is choosing 50 churches per country in Africa and 100 members who are recorded tithers in each of those churches.
So far he has donated $500 million worth shares from his company Agilitee to people across the continent of Africa.
Dr. Lamba has committed to pay 10% tithes which is $2 billion in shares to uplift the poor in the continent.
He is set to continue issuing these shares until he hits the $2 billion mark as a commitment to pay his own tithe according to scriptures. He plans to finish this by the end of December 2022.
Dr Lamba is the first Dollar Billionaire to represent the kingdom of God in this manner, in an age where we have seen the world swaying off from God, he has been publicly turning people back to God as he continues to sing praises to God.
Lamba believes it is only the grace of God that could pick a village boy like himself and set him this high, as he believes that his rise is humanly impossible with the grace of God.
Talking to this publication, Lamba said it was high time African churches have equity in public companies.
“The Church of Mormons has over $100 billion worth shares in public companies such as Apple, Amazon, Microsoft, Tesla, Alphabet (parent company of google) just to name a few. Whereas the Vetican (Roman Catholic Church) has an over $40 billion share portfolio in similar companies including Apple, yet churches in Africa churches don’t have equity in any public company. The churches in Africa don’t own anything, they don’t own even the land where the church is operating, God forbid,“ Lamba said.
“It is time. God has raised me to be the first to restore the dignity of the body of the christ. God issued an instruction to all humsns on earth, be fruitful, multiply, subdue and dominate the earth yet believers are the poorest in this world and they are not fruitful in anything that’s why they currently don’t multiply subdue and dominate anything. Instead, you will hear them calling successfully and wealthy people satanic as if God is incapable of blessing anyone, my role is to change this nation because our God is anle to do exceedingly beyond and above all a man can think. I have to change this narrative before the Christ returns because it’s time for the Church to rise.”
Dr Lamba is the founder of, AI and Green Tech Company Agilitee, Africa’s first Electric Vehicle Manufacturer and the world’s first black-owned EV manufacturer is now oozing confidence as Africa’s $19 billion man.
Agilitee became a public company on the 1st of September 2022 after the Johannesburg Stock Exchange approved its Memorandum of Incorporation and Agilitee was converted from a private company to a public company by the Companies and Intellectual Property Commission of South Africa.
Agilitee is currently doing a Johannesburg Stock Exchange Initial Public Offering (IPO), which is the first EV, AI, and Green Tech IPO in Africa. The IPO values Agilitee at $20 billion, making the founder extremely wealthy.
Agilitee has 1 billion issued share capital and is current currently raising $2 billion through the sale of 100 million new shares at $20 per share which will increase the total issued share capital to 1.1 billion shares, Dr. Lamba owns 90% percent of Agilitee which is a total of 900 million from the already total issued share capital of 1 billion shares and his shares are currently valued at $19. billion, making him Africa’ second richest man after Africa’s richest man Aliko Dangote. Once the capital raising is completed Agilitee will have 1.1 billion issued share capital and Lamba will be diluted from 90% down to around 80 to 85% ownership in Agiltee and still valuing his shares at $19 billion if he doesn’t sell any shares during the IPO.
It is custom that founders sell their shares during an IPO. Facebook’s early investors and employees sold $5.5 billion worth shares alongside the company’s IPO in 2012 when Facebook was going public. At the time Facebook said that it was selling 180 million shares of stock at $28 to 35 a share. On top of that, other stockholders were selling 157,415,352 shares. Those proceeds did not go to Facebook but to early investors and facebook employees.
Founder and Chief executive Mark Zuckerberg also sold 30.2 million shares that made him $1.05 billion. It is still to be seen how Lamba intends to structure his since he is known to be a generous man.