African leader on   Electric Vehicle manufacturer - Agilitee-will starts trading its IPO at Johannesburg Stock Exchange (JSE) after approval by the relevant authorities.

With the IPO trading kicking off it now means that the firm will now be converted from being a privately held company to a public company.

This is part of the process of Agilitee’s Initial Public Offering (IPO) on the JSE and it marks the beginning of a new chapter for Agilitee now that it has officially become a public company.

“I am excited by this approval by the Johannesburg Stock Exchange,” said Dr Lamba.

Adding “This is the testament of the emergence of the New Africa, the ERA of just a hopeful Africa is gone as Africa is entering the world of the promise of God. This IPO is the final leg of every promise that Agilitee made when Agilitee was formed and it will usher the continent to the forefront of the global green revolution.”

The firm at the initial stage of being listed at the JSE had contracted the services of Acaciacap Advisors as it embarked on its IPO listing journey at JSE.

Agilitee seeks to raise a total of $2 billion in equity capital by selling 10% of the business to new investors.

According to Dr Mandla Lamba the CEO of Agilitee, the firm allocated an additional 10 % shares equivalent to   $2 billion for the less across the continent.

Prof Onkgopotse JJ Tabane, Agilitee, Global Board Chairperson also pointed out that the firm is eyeing more partnerships with various players to drive its growth strategy. 

"The approval by the Johannesburg Stock Exchange (JSE) for the conversion of Agilitee from a private into a public company is a major and irreversible milestone towards our envisaged Initial Public Offering of 10 percent of the company for $ 2 billion US. “

Adding “We are standing on the brink of a major partnership with the public to make a huge dent towards a carbon free economy while creating wealth for many people across the African continent and the world. The company will soon release its prospectus and formally invite the public to purchase shares. " 

Can continental tech firms drive economic growth? 

In 2020 China witnessed a huge economic shock but a ‘V-shaped economic recovery and growth the world had never seen.

The covid-19 stricken Asia nation added $1.5trn to the wealth of China’s billionaires bringing to $4trn the total worth of the country’s billionaires, according to a new report which described the increase as China’s fastest growth ever.

This is attributed to the spate of Initial Public offers and robust tech growth in recent times.

China’s soaring stock markets, a flood of Initial Public Offerings and surging growth in the sector have been identified as what has helped to fuel the country’s latest wealth boom.

In the US for instance, it has been observed that since the 1980s when Apple Inc went public, Google in 2004 and Facebook in 2012, instant millionaires were created.

Companies' and individuals' net worth rocketed upward when companies like Apple, Google and Facebook and Alibaba Group, and Xiaomi Corp, all sold their IPOs.

The post-covid economic era has shown that the tech and green space attract a lot of investors in thousands of dollars when IPOs are sold.

Could Africa take advantage of this development? Experts have said that South Africa-based Agilitee, one of Africa’s fast-growing green technology and electric vehicle manufacturing companies, is poised to lead the revolution in Africa.

They argued that the Tech industry forms a majority of the exemplary IPOs in recent times that have raised billions of dollars through IPOs in especially China and the US.

According to them, Agilitee is not only a technology firm but a green technology firm operating in the Electric Vehicle space as well. This, they noted, puts the firm in a very strategic and good position to attract major investors.

With its IPO valued at $20bn, the company looks to raise $2bn by selling 10 per cent of its equity through a public offering.

Like the blueprint laid by China and US, experts said the success of Agilitee’s IPO will create some millionaires in Africa.

This is because already, the firm is offering another 10 per cent valued at $2bn dollars to the less fortunate in Africa with the long-term objective of raising millionaires to alleviate poverty in Africa.

It is also a narrative that illustrates how a vision which had its roots in South Africa is transforming other parts of the African continent.

When the founder and current Chief Executive Officer (CEO) of Agilitee Africa, Dr Mandla Lamba, started the project in 2015, he knew that the destiny of the company would be a force to reckon with.

 “The journey to where we are was not easy, a lot of twists and turns and ups and downs but a lot of success has been enjoyed amid the pain.The story of Agilitee has been that of not amplifying problems and challenges at the expense of the goodness of God.”

“What gave us the strength was the fact that five years ago, there was no Agilitee and here we are today with this great company, yes, we have had to fight a lot but we can’t complain about it because we are grateful of the blessings we saw in the deep of tears,” he said.

Lamba said the conception of the company started in 2015 and the formalisation of the company was done in 2018.