Lamba to donate R10 million monthly to the needy

Agilitee, the world’s first black-owned electric vehicle manufacturer founder Mandla Lamba has pledged to donate R10 million every month to the vulnerable families dotted across South Africa.

Lamba said beneficiaries are those with no one working in their families.

According to the philanthropist each family will receive R2500 per month.

“By the grace of my father who is unseen, I have decided to provide groceries to the total of R2500 per family per month to families that have no one working and even if you give someone an opportunity in that family they would still fumble because God made all of us different. This is a monthly provision to a total of R10 million a month but R2500 per family. To God alone be the glory,” Lamba told this publication.

This is not the first time the fast rising entrepreneur who grew in very poor village where he walked 30 kilometres barefooted to school has extended a helping hand to the needy.

In July this year Lamba pledged to help school going kids with electric scooters to help them navigate the long distances.

Lamba lamented a system in Africa where the affluent in society keeps getting richer while turning a blind eye on the suffering masses.

As such he is on a mission to undo the previous skewed system where the rich do not tag the poor to the top.

The initiative dubbed African Children’s Restoration Project is being done in with the Mandla Lamba Foundation and A7 Squared.

Already Lamba has given away $2 billion worth of his shares in Agilitee to the disadvantaged persons in Africa.

Agilitee is currently doing an Initial Public Offering (IPO) on the Johannesburg Stock Exchange in South Africa, the company is raising $2 billion by selling 10% of Agilitee shares to the public.

The company has received an approval by the JSE to be converted from being a privately held company to a public company.

This is part of the process of the of Agilitee’s IPO on the JSE and it marks the beginning of a new chapter for Agilitee now that it officially becoming a public company.

The IPO is advised by JSE approved sponsors, Acaciacap Advisors.

Agilitee two weeks ago unveiled My Ride an ownership program that allows one to own Agilitee full electric delivery scooters for deliveries and the Agilitee Self-Charging Car, Agilitee Go for uber or bolt.

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