Aldworth Mbalati stands as a formidable figure in the African energy sector, a changemaker, and a disruptor who has left an indelible mark on the landscape. His name resonates powerfully, representing a commitment to providing energy on the continent and a dedication to clean and sustainable practices that leave the world a better place.
His journey, from early achievements in real estate to becoming a pioneering force in the energy industry, is inspirational. With nearly two decades of unwavering dedication, Mbalati has tirelessly worked to guide South Africa and the entire African continent toward a brighter and more energy-secure future. For him, energy is the catalyst for transformative economic growth.
While many young millionaires might rest on their laurels, Mbalati’s journey took an unconventional path. It began not as part of a meticulously crafted plan but on a hunch guided by the wisdom of his financial advisor.
Taking a bold leap into the energy sector, he co-invested in a coal mine – a move that would soon prove pivotal in his entrepreneurial journey.
At the time, coal prices were soaring from less than $20 per tonne to over $200 per tonne, culminating in the sale of the mine for a staggering R700 million ($94.7 million) in 2007. This move set the stage for his grand entry into the energy arena.
In 2009, Mbalati founded African International Energy (AIE) Plc, driven by his unwavering determination and the winds of change in the global energy landscape.
AIE aimed to provide renewable energy solutions to the African market, pioneering technologies such as natural gas, fuel cell technologies, underground coal gasification, coal-to-power technologies, and renewable resources like wind, solar, and hydroelectric power. Mbalati’s ability to steer companies to unprecedented heights was evident in his leadership of AIE.
However, true to his dynamic nature, Mbalati later exited AIE upon its de-listing from the Frankfurt Stock Exchange. This move laid the groundwork for the birth of DNG Energy in 2013, driven by a vision to advance South Africa’s economic growth and fulfill environmental protection obligations by offering a cleaner and more cost-effective fuel alternative.
Today, Mbalati serves as the group CEO of DNG Energy. His passion for the energy sector stems from a profound belief that affordable energy is the key to sustainable growth, a catalyst that unlocks opportunity and fuels trade. He recognizes that the decisions made today regarding energy usage will reverberate through generations, shaping the quality of life on the continent.
Under Mbalati, DNG Energy has achieved remarkable strides in the energy sector, leading the charge in meeting Africa’s burgeoning energy demands. Notably, the company achieved a significant milestone by becoming the first to import LNG on a commercial scale into South Africa.
This accomplishment has received widespread acclaim, especially from South African customers, who have seen their fuel costs decrease by more than 50 percent.
In a recent conversation with Billionaires.Africa, Mbalati shared his sage advice for young entrepreneurs aspiring to make a meaningful impact in Africa’s energy sector. With a smile that reflects the wisdom of experience, he emphasized the importance of self-belief.
“Believe in yourself,” he urged, “stand against injustice, demand fairness, and trust in your capacity. The children born today possess knowledge and exposure that surpass our own. If we empower them and nurture their self-belief, they will chart a course to greatness. Remember, believing in yourself is the most potent asset you can possess. Believe that you matter, that you are unique, and that you can achieve greatness.”
Mbalati is more than a businessman; he is a beacon of hope and a driving force in Africa’s energy revolution. His journey from real estate success to energy magnate is a testament to the power of vision, determination, and unwavering belief in oneself. As he continues to pave the way toward a brighter energy future for Africa, Mbalati’s story serves as an inspiration to all who dare to dream and believe in the transformative power of energy.
