FAST rising South Africa based industrialist and billionaire, Dr. Mandla Lamba started donating shares to the previously disadvantaged Africans in July 2022 right after the company he founded four years ago started an Initial Public Offering (IPO) on the Johannesburg Stock Exchange.
So far he has donated $500 million worth shares from his company Agilitee to people across the continent of Africa.
Dr. Lamba has committed to pay 10 percent tithes which is $2 billion in shares to uplift the poor in the continent.
He has now started donating the remaining $1.5 billion worth of shares to churches across the continent.
He is choosing 50 churches per country in Africa and 100 members who are recorded tithers in each of those churches.
He is set to continue issuing these shares until he hits the $2 billion mark as a commitment to pay his own tithe and is set to finish this by the end of December 2022.
Dr Lamba is the first Dollar Billionaire to represent the kingdom of God in this manner.
He believes it is only the Grace of God that could pick a village boy like himself and set him this high.
Talking to this publication Lamba said; “The Church of Mormons has over $100 billion worth shares in public companies such as Apple, Amazon, Microsoft, Tesla, Alphabet (parent company of google) just to name a few. Whereas the Vetican (Roman Catholic Church) has an over $40 billion share portfolio in similar companies including Apple, yet churches in Africa don’t have equity in any public company. The churches in Africa don’t own anything, they don’t own even the land where the church is operating, God forbid.”
“It is time. God has raised me to be the first to restore the dignity of the body of the christ. God issued an instruction to all humans on earth, be fruitful, multiply, subdue and dominate the earth yet believers are the poorest in this world and they are not fruitful in anything that’s why they currently don’t multiply, subdue and dominate anything.
“Instead, you will hear them calling successfully and wealthy people satanic as if God is incapable of blessing anyone, my role is to change this nation because our God is able to do exceedingly beyond and above all a man can think. I have to change this narrative before the Christ returns because it’s time for the Church to rise,” added Lamba.
Dr. Lamba is the founder of AI and Green Tech Company, Agilitee which is Africa’s first Electric Vehicle Manufacturer and the world’s first black-owned EV manufacturer.
Agilitee became a public company on the 1st of September 2022 after the Johannesburg Stock Exchange approved its Memorandum of Incorporation.
It has since been converted from a private to a public company by the Companies and Intellectual Property Commission of South Africa.
Agilitee is currently doing a Johannesburg Stock Exchange Initial Public Offering (IPO), which is the first EV, AI, and Green Tech IPO in Africa.
The IPO values Agilitee at $20 billion, making the founder extremely wealthy.
Agilitee has one billion issued share capital and is current currently raising $2 billion through the sale of 100 million new shares at $20 per share which will increase the total issued share capital to 1.1 billion shares.
Dr. Lamba owns 90 percent of Agilitee which is a total of 900 million from the already total issued share capital of 1 billion shares and his shares are currently valued at $19 Billion, making him Africa’ second richest man after Aliko Dangote of Nigeria.
Once the capital raising is complete, Agilitee will have 1.1 billion issued share capital and Lamba will be diluted from 90 percent down to around 80 to 85.
It is custom that founders sell their shares during an IPO.
Facebook’s early investors and employees sold $5.5 billion worth of shares alongside the company’s IPO in 2012 when the company went public.
At the time, Facebook said it was selling 180 million shares of stock at $28 to $35 a share.
On top of that, other stockholders were selling 157,415,352 shares.
Those proceeds did not go to Facebook but to early investors and its employees.
Founder and Chief executive Mark Zuckerberg also sold 30.2 million shares that made him $1.05 billion.
