Dr. Mandla Lamba, founder of South African based Electric Vehicle Company and green technology firm Agilitee Pvt (PHOTO /Courtesy)
A solution designed by one of the world’s brilliant minds, MLBC is a vehicle who’s intent is to transform Africa into a global powerhouse. Mandla Lamba started Verityhurst (Pty) Ltd a private equity firm that has one investor, that is Dr Mandla Lamba of course.
Verityhurst was founded 15 years ago with a sole principle of investing in listed equities, it was formed in 2007 by Dr. Mandla Lamba who was later joined in by a Billionaire who is an Eastern Cape, South African Parliamentarian Thembekile Mzantsi who serves as a partner and Chairman of Verityhurst. Thembekile Mzantsi is a South African Billionaire Politian who owns R5 billion worth shares in Agilitee.
The duo have run Verityhurst for 15 years and it invested in over 11 companies on the Johannesburg Stock Exchange, 6 companies on the New York Stock Exchange, 9 Companies o the Nasdaq in the US and 22 companies on Lindon Stock Exchange. Verityhurst has invested over $2.7 billion globally over the past 15 years.
During Covid 19, Verityhurst saved two companies that were on the brink of collapse. The first was Pembury Lifestyle Group which owns private schools in South Africa and is listed on the Johannesburg Stock Exchange. The schools group was about to be liquidated by one of it’s lenders when Lamba was approached, he was approached a day before liquidation which also happens to be the last day of the month when teachers salaries were due.
This was explained to Lamba that the company would be liquidated the next day and the teachers and other workers salaries were at the same time. Kamva being an impact investor who has never focused on profits decided to pay the salaries of over 200 teachers and over 50 other workers with out a blink, at this time Lamba had not even engaged the creditors to see they would accept his offer and stop the liquidation process, he was ready to loose almost R3 million on salaries even if the company was not saved.
Once the salaries were paid he managed to pay the creditors and stopped the liquidation and helped the company turn around and back to profitability, all this was done with the help of AcaiaCap Advisors who are the same group assisting Agilitee with the IPO on the Johannesburg Stock Exchange.
After the schools group was saved, Lamba save a second company which was suspended from trading by the Johannesburg Stock Exchange for failing to submit audited financial statements on time, Lamba came in also here and funded the company through his Verityhurst and brought back the company and got the suspension lifted by the Johannesburg Stock Exchange and the company is still trading this very moment.
He provided loans worth Millions of dollars to companies on the Johannesburg Stock Exchange during the hitting hard of the Covid 19 lockdown restrictions and he didn’t charge interest on the loans because hus intentions were pure and he sought to help these companies stay afloat, this act of kindness has to be commended because he save a lot of jobs and he didn’t want repayments until the companies were back to profitability. This has never been done nor been repeated on the Johannesburg Stock Exchange before.
Lamba has a deep relationship with God where He also gets Intel on things to come, he has predicted a lot of things that happened including the recession that happened in 2020. In 2019 he started Verityhurst Academy working with Nedbank in South Africa where he trained the public on how to trade and invest on the Johannesburg Stock Exchange and make money while sitting at home, Nedbank provided brokerage accounts and Lamba provided training. In 2019 he was interviewed by the SABC channel 404 and he warned of the coming recession and market crash that both happened a few months later. He has trained over 25 000 students between 2019 and 2021 on how to trade and make money on Johannesburg Stock Exchange while sitting at home.
He also started Mandla Lamba Billionaires Club in 2019 with plans to use the vehicle to give free shares to the poor to empower them and get them out of poverty. Lamba has donated 3% of his $15.5 billion Agilitee shares to the Mandla Lamba Billionaires Club so that these shares could be shared among its members. The club boasts 2000 members and Lamba is pushing to have 50, 000 members by Christmas across the continent of Africa as he seeks to empower the poor.
This man has done so much in the 37 years of his life you would swear he has lived before. Lamba us the kind of energy that Africa needs and his rise came just a a right time, this is Africa’s angel walking on earth.
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