447 300
Billionaire visionary and Industrialist, Mandla Lamba who is the second richest black person on earth is taking Africa off the electric grid.
The Billionaire announced yesterday night on his Facebook page that through Agilitee he is taking Africa off the electricity grid.
Agilitee which is the first Electric Vehicles, Green Tech and AI company in Africa and the first black owned in the world is currently undergoing an IPO on the Johannesburg Stock Exchange.
The IPO values Agilitee at $20 billion which is about 320 billion South African Rands, Lamba who owns 77.5% in Agilitee his shares are worth $15.5 billion which is equivalent to 260 billion South African Rands making him the richest person in South Africa and the Second richest person in Africa.
The company announced yesterday that it has completed building its off-grid electric system for both households and businesses across the continent.
The system is developed by Agilitee in partnership with Lamba’s Green Battery Manufacturing company that is called A7 Squared. Agilitee developed the technology and the system, whereas A7 Squared developed the energy storage systems for both households and businesses.
The household system can generate and store up to 150kw and looking at a daily average household consumption 11 – 13kw per household per day means that even if the weather is not conducive to generate energy, energy that was generated during good weather is stored and used when needed. This is the first of its kind in Africa.
This for Africans, it is not what Agilitee & A7 Squared are bringing but the how of is the most interesting part.
To take an average home off-grid would cost not less $20, 000 but what Agilitee has done must be commended, the Company instals this system in your house at its own cost and the purchaser only pays half of their electric bill and that amount is treated as a repayment for the system until they finish paying for it and own it.
The company has even considered that the electricity bill changes every season, so this has been catered for because you pay half of the bill that you usually pay each season which means the company will require your payment records for each season in order to calculate your half each season. Agilitee is installing these from the 1st of September 2022 and the pre-orders opened last night for those who want to escape power outages in Africa.