Fast rising South Africa based industrialist and billionaire, Dr. Mandla Lamba has outlined ambitious growth plans ahead of a planned launch of Agilitee East Africa in Kenya.
He pointed out that in 2021, Agilitee saw revenue grow 1,600% from its South African operations and that they are bullish of doubling that effort in 2023.
“We are also looking to roll out new vehicles and we are starting with Kenya. Our team is already in Kenya preparing for the launch next month. We will be rolling out and this year, our target is 10,000 which are four-wheelers on the road, and at least 25, 000 scooters on the road in 2023,” Dr Lamba said.
“We also got to be approved to become a public company in September 2022 as we are preparing for IPO listing on the joint public exchange. Our company is going public at a valuation of 20 billion dollars,” he added.
Dr Lamba explained that Agilitee has not borrowed money from anyone thus far and its operations are being funded internally generated capital.
On electric batteries and other infrastructure
Dr Lamba said that Agilitee launched a charging system in 2022 which is called the Agilitee Power boost 7, adding that it’s the fastest charging system in Africa.
He said that the charging system can charge a car like Tesla in up to 15 minutes from zero to 100% however, all the other electric cars, like the Jaguar and the BMW can charge within three and a half and seven and a half minutes.
“As part of our expansion into Kenya, we are planning on rolling out infrastructure. It is one of the most difficult things to convince someone to leave their combustion engine cars to an electric car without infrastructure such as access to five charging stations within a kilometer,” he explained.
“So we are rolling out infrastructure because it is pivotal in Africa. Just to add to that, buyers of our scooters at dealerships in South Africa and very soon in Kenya will not have to pay to charge their electric batteries,” he added.
Dr. Mandla said he will be personally in Kenya before February 20th, 2023 to launch Agilitee East Africa and hold a press conference. He warned that by 2028, restrictions on petrol and combustion engine vehicles may come into force and that African governments needed to act today to secure their citizens.
