Africa’s electric vehicle manufacturer, Agilitee, is set to create significant wealth as it moves towards a United States listing through a reverse merger.
Founded by South African entrepreneur Mandla Lamba, the company says the transaction could produce at least 33 millionaires and 11 billionaires across Southern Africa, including South Africa, Zimbabwe, Lesotho, Eswatini and Namibia, by July 2026.
Agilitee has built a presence in last-mile delivery, supplying electric scooters to major brands such as KFC, Debonairs Pizza and Steers, as well as Medirite, a subsidiary of Shoprite Group.
Now headquartered in Miami, the firm plans to raise about US$500 million to fund expansion.
Lamba said the listing represents a milestone for African innovation:
“This transaction demonstrates that African-founded companies can compete globally and create meaningful value for shareholders.”
The move comes amid strong growth in the global EV market, led by firms such as Tesla in the United States and BYD in China.
Analysts say Agilitee’s success will depend on its ability to scale, but its US market entry marks a notable step for Africa’s green technology sector.
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