South African electric vehicle mogul Mandla Lamba has embarked on an expansion drive in Southern Africa.
Lamba is the owner of Agilitee Africa.
Agilitee, a subsidiary of Lamba Automotive, acquired a 90-percent stake in the Zimbabwean electric vehicle dealership, Zimtorque, in a cash-and-share swap deal in May, NewsDay reported.
Zimtorque became Agilitee Zimbabwe (Pvt) Limited.
Following the acquisition, Zimtorque CEO Tanaka Kutama moved to Lamba Automotive as COO. The company will officially unveil dealerships in Harare and Bulawayo in July, followed by a manufacturing plant in Zimbabwe that will create 700 jobs.
Agilitee also recently sold its franchise to the Eswatini-based Clivegreen Private Limited, which will distribute electric vehicles in that Southern African nation.
Clivegreen CEO Bonani Mtetwa said he signed the deal because it is time to embrace green energy, as using electric vehicles will help reduce the country’s fuel import bill and reduce greenhouse emissions.
Lamba is a controversial South African mining mogul who rose to prominence after claiming to be a billionaire at age 25. He has interests in diamonds, gold and manganese ore.
In 2019, Lamba was accused of having fake academic credentials, Daily Sun reported.