UltimusHoldings signpost ambitionwith plan to invest $2bn across Africa over 10 years

Ultimus Holdings, a pan-African investment company, has signposted its ambitious investment credentials by unfolding its plans to invest as much as $2 billion over the next 10 years across the African continent and across a number of business interests cutting across real estate & construction, services, healthcare, consumer & industrial goods, financial services & ICT.

At an introductory meeting to unveil the company to the media, Dr. IfeanyiOdii, president and chief executive officer of Ultimus Holdings, said the company was founded two years ago, and adding that the planned investment over the 10 years is targeted at five sectors that would spread across 10 African countries.

Starting from Nigeria, the company has moved straight into real estate and construction and has a number of luxury developments, including in West Africa’s most expensive square mile, Banana Island, where its development,Parla Di Lusso, a set of seven stand-alone units will be coming to the market at an average cost of $2.3 per unit.

Odii said that Ultimus Holdings has the ambition to grow each of its portfolio of companies to be leaders inthe different areas within 10 years. He said the company is working with local and international partners, explaining that he had made successes of a number of businesses in the last 20 years and that the international partners come from Turkey, among other places.

With regards to the $2 billion planned investment over 10 years, Business A.M. can report that $1 billion is being planned to be invested in its property business and the major target are premium luxury properties. Over the 10 years period, a minimum of 500 luxury residences would be developed. Its Parla Di Lusso by Ultimus in Banana Island is already gulping $20 million.

Its next property line, known as, The Classroom by Ultimus, will be invested in to the tune of $400 million over ten years.

Its construction portfolio is expected to gulp $100 million over the same time frame. The other investment disclosed is the Viarmor Healthcare, which will also gulp $100 million over 10 years.

The CEO statedthe company’s commitment to ensuring sustainable development in Africa, by investing heavily in different countries within the continent, noting that Africa holds great potential for economic growth and as such would continue to play a leading role in harnessing the opportunities that could make the continent aneconomic superpower.

“We are quite optimistic about African economies given the abundance of available opportunities. As a business, we would continue to explore different areas in the rapidly evolving growing economies, not only to make a statement as a brand, but to contribute to further expansion. Moving forward, we would be making massive investments in sub-Saharan Africa that are targeted at addressing the peculiar needs of the African market,” he added.

He further noted that the company is strategically seeking opportunities for newbusinesses in strategic sectors, which would guarantee huge returns on investment while also acquiring businesses that visibly deliver solid value for its esteemed customers.

“Currently, Africa remains a strategic market for our business. We cannot afford to relax because we are aware of the impact significant investments would have on business growth and socio-economic development in Africa as a whole. We believe investment in critical sectors of the economy would not only create jobs for the youths but also help to improve the economic prosperity of the continent as a whole,” Odii said.

David Ewemie, vice president, Ultimus Holdings, said he was confident of the company’s prospects in Africa particularly, based on the legacy of growth and a strong brand built over the years. According to him, the company, which is fast becoming a household name in Africa, currently boasts four subsidiaries in its portfolio, namely, The Classroom, Parla Di LussoUltimus Construction and Viarmor.