Serial Entreprenuer Mandla Lamba spreads wings to Electric Car rental

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BUSINESS– The adage that says he who has much  will be given more is  true and this is the same for Dr. Mandla Lamba, the founder and CEO of Agilitee.

On top of having other business ventures and also known for being the  owner of that  first black owned Electric Vehicles manufacturer, Artificial Intelligence and Green Tech Company, he has spread his wings into car rental business.

The  serial entrepreneur  known for his sharp- wittedness has tasted the deep waters by  investing into  Green gr8, the first fully  electric car rental company in Africa.

This comes timely and it is a wise move  especially during this period when the prices of fuel or gas have skyrocketed after the COVID – 19 pandemic and the Russia – Ukraine war that has had a toll on business in Africa and beyond.

In a  statement that was shared , he emphasized  the role Africans should play inorder to claim it back it.

According to  Lamba, they  are  right at the intersection of what used to be and what will be yet still want to rely on what used to be.

“All the cars rented in Africa’s car rental system since the formation of the industry are all foreign manufacturers and no local participation because in what used to be there were no African manufacturers yet in what will be we already have the likes of Agilitee leading the charge. It is time Africans rent cars that are made by Africans as this helps in solving African problems” he said.

Mandla adds that “Today you take a flight and visit your village and rent a car in a nearby city. You are compelled to rent a pick up because the roads are bad no matter how much you don’t like pickups. Greengr8 will flood the car rental Industry with cars that meet the requirements of even villagers. Behold, God is doing a new thing in Africa”.

He also noted that the Greengr8 will hit the rental market starting November 1, 2022 inorder to enjoy from the festive season traffic and as a way for celebration.

Due to his love for philantrophy, he is obsessed with empowering the previously disadvantaged and he did something he has never done with Greengr8, by giving 25% ownership of the company to almost 46 people who have licensed to run the car rental opportunity in each province in South Africa and these people will learn for the first from this article that they are now shareholders.

The Billionaire has started giving away shares worth $2 billion from his company Agilitee. So far he has given away $280 million worth shares.

Additionally , the company recently received an approval by the Johannesburg Stock Exchange (JSE) to be converted from being a privately held company to a public company and advised by Acaciacap advisors.

 Agilitee is also seeking to raise a total of $2 billion in equity capital by selling 10% of the business to new investors, this capital raising will commence as soon as the prospectus is completed by Acaciacap Advisors.