Dr. Mandla Lamba, the self-proclaimed youngest billionaire in South Africa, has been facing a series of setbacks recently. These events came after Lamba failed to comply with a court order to pay his former employee, Christa Brits, R750,000 within a specified deadline.
Legal Woes for Dr. Lamba
Brits, a business developer, took the Agilitee Africa CEO to the Commission for Conciliation, Mediation and Arbitration (CCMA), claiming that she was unfairly dismissed by Lamba. The court ruled in favor of Brits, and Lamba was ordered to pay R750,000 in compensation by March 1st. However, he failed to meet the payment deadline, resulting in the court resorting to auctioning off his assets.
Auctioning of Lamba’s Assets
Among the items listed for auction were electric-powered bikes belonging to the controversial businessman. The Solidarity union warned Lamba in February that failing to pay Brits on time would result in the seizure and sale of his property to cover the outstanding debt.
The auctioned assets included Lamba’s store stock in Fourways, Johannesburg, office furniture, such as chairs and a reception desk, eight grey mini cy bikes, red mini cu bikes, a white mini cu bike, and two crash helmets.
Lamba’s Controversial Career
Dr. Mandla Lamba’s career has been fraught with controversy. He had previously served time in prison for culpable homicide and was linked to an investment scheme promising investors a return of R1 million per month if they invested R150,000.
Lamba’s Defiant Attitude
Despite his legal and personal troubles, Lamba has remained defiant, taking to social media to praise God for his success and achievements. In a recent post, he stated, “I am a God-fearing billionaire, and I am not ashamed of the gospel of The Messiah.”
FSCA Warning
The Financial Sector Conduct Authority (FSCA) has issued a warning to South Africans about Lamba’s social media activities, urging them to be cautious of his actions.
Dr. Mandla Lamba’s downfall serves as a cautionary tale for aspiring entrepreneurs and investors. As Lamba’s career continues to spiral downwards, his actions not only impact his business but also the reputation of South Africa as a whole.
