Elumelu charts shared prosperity mantra as Heirs Holdings pivots expansive market listings
Onome Amuge
Tony Elumelu, the founder and chairman of Heirs Holdings, has unveiled an audacious roadmap to broaden the company’s reach and democratise prosperity across Africa.
The plan, which aims to expand Heirs Holdings’ presence on the Nigerian Exchange and potentially other African markets, reflects the company’s commitment to foster economic growth and prosperity on the continent by empowering businesses and communities.
Elumelu, the driving force behind Heirs Holdings, shared his bold vision to promote inclusive growth across Africa during a media parley celebrating the company’s 14th anniversary.
The cornerstone of Heirs Holdings’ ambitious plan is a multifaceted approach to strengthen its presence on the Nigerian Exchange by listing additional firms from its diverse investment portfolio. This comprehensive portfolio covers a broad range of sectors, including power, energy, financial services, hospitality, real estate, technology, and healthcare, with operations spanning an impressive 24 countries worldwide.
Elumelu’s declaration is considered a resounding call for democratising prosperity, envisioning a future where economic success is shared more widely. By listing more of Heirs Holdings’ portfolio companies on the Nigerian Exchange, the group chairman aims to increase public participation in the company’s investments, thereby fostering economic inclusion and empowering individuals and communities.
Heirs Holdings’ expansive investment portfolio across key sectors of the Nigerian economy, such as power, hospitality, financial services, and healthcare, is already highly represented on the Nigerian Exchange.
The company boasts seven entities publicly listed on the Nigerian Exchange, including Transcorp Hotels, the hospitality giant; Transcorp Plc, the diversified conglomerate; United Bank for Africa, the leading financial institution; and Afriland Properties, the real estate developer.
Elumelu declared further: “We are also considering listings in other African markets. Our goal is to tap into the immense potential across the continent, but we will do so when the market conditions are favourable.
“Our experience in Nigeria has shown us the transformative impact of being listed, and we wish to replicate this success across Africa.”
Elumelu’s assertion attests to the company’s steadfast dedication to expanding its market presence, an ambition which dates back to Heirs Holdings’ inception in 2010.
Under Elumelu’s leadership, Heirs Holdings has strategically invested in key sectors, delivering long-term value while driving Africa’s economic development.
In her remarks at the event, Owen Omogiafo, chief executive officer of Transnational Corporation Plc (Transcorp), a flagship investment of Heirs Holdings, dwelled on the far-reaching effects of these well-thought-out investments.
“Transcorp is Nigeria’s largest listed diversified conglomerate, and we are proud to contribute significantly to the country’s power generation and hospitality sectors,” Omogiafo said.
The value-creating impact of Heirs Holdings’ investments was echoed by other senior leaders within the group.
Peter Ashade, the chief executive officer of United Capital, and Adesimbo Ukiri, the chief executive officer of Avon HMO, highlighted the benefits that their companies bring not only to shareholders, but to the wider community as well.
The recent unveiling of Heirs Holdings’ vision marks a pivotal moment for the company, showcasing its commitment to drive economic transformation and inclusive growth on the African continent.
With future listings and expansions on the horizon, Heirs Holdings said it remains steadfast in its mission to harness Africa’s vast potential, ensuring that the resulting prosperity is equitably distributed and shared among all stakeholders.