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Staff Reporter
South African businessman Dr. Mandla Lamba is on the path to possibly become the second richest man in Africa after Aliko Dangote, following plans by his electric vehicles (EVs) company Agilitee Africa to issue a US$20 billion Initial Public Offering on the Johannesburg Stock Exchange.
Interestingly, the IPO is set to create massive wealth for many, with Agilitee Africa’s chief executive Bonisile Roberts earmarked to become one of Africa’s few female billionaires as her net worth could shoot to US$1, 2 billion.
Last year, Agilitee was named one of South Africa’s Top Gender Empowered Companies, as Dr. Lamba has appointed several women to top management positions at the firm.
Dr. Lamba owns 77, 5 percent of Agilitee, whose value will soar to US$15, 5 billion if the IPO sails through.
Owing to its Pan-African values, Agilitee, which is Africa’s pioneer in electric vehicles and green technology, has set out on a mission to create millionaires on the continent through a public listing.
The green technology and electric vehicle manufacturer recently opened operations in Zimbabwe and plans to expand into Malawi, Kenya, Ghana, and Zambia.
With an initial public offering (IPO) value of $20 billion, it hopes to raise $2 billion by selling 10 percent of its equity through the JSE.
The tech industry has produced a majority of outstanding IPOs in recent years, raising billions of dollars in China and the United States.