The Sunday News
Zimbabwe-bound green energy firm, Agilitee Africa has expanded its operations to include power generation as it plans to raise R3, 8 billion from selling-off a stake of its company in South Africa.
In Zimbabwe, the company plans to establish an assembly plant for electric vehicles, with offices in Harare and Bulawayo.
The freshly injected R3, 8 billion will be part of the funds that the company intends to use to bankroll the expansion projects into Zimbabwe and other African countries.
In addition to electric vehicles, the company has also extended its operations to include power generation, in addition to electric vehicles.
Speaking to Agilitee’s shareholders, the company’s founder and CEO Mandla Lamba also announced that the company will appoint a new CEO, from September 1.
Dr Lamba said the company’s new CEO “will be a young black female” as part of the drive to empower females.
He said the selling-off of the shares will allow the company to rebrand into a new entity, Agilitee Power, whose tentacles will be spread across the African continent.
“Agilitee Power is an energy generating company for Africa. It will aim to take households and businesses off the grid, reducing their reliance on the unsustainable electricity supply by Eskom” said Dr Lamba.
He said the company has set a target of connecting close to 150 000 homes through its new power generation entity with the first connections set for January 2022.