Tony Elumelu, Chairman of Heirs Holdings, has announced that the group plans to list additional companies from its portfolio on the Nigerian Exchange, with the aim of broadening access to wealth and economic benefits.
This announcement was made during a media event in Lagos celebrating the 14th anniversary of Heirs Holdings.
Elumelu also indicated that the group is considering future listings in other African markets, but will only proceed when the conditions are favorable.
He emphasized that Heirs Holdings’ businesses are currently privately owned across Africa and that listing them would allow for a more inclusive distribution of prosperity.
He pointed out that where the group has already listed companies, there have been significant benefits for the public, reinforcing their commitment to future public offerings when the timing is right.
Reflecting on the group’s journey since its founding in 2010, Elumelu highlighted their commitment to long-term investment in key sectors across Africa to unlock the continent’s full potential.
He noted that through their dedication and perseverance, Heirs Holdings has proven that an African institution can deliver sustained value and create a lasting legacy across vital sectors.
Elumelu stressed that the group’s mission encompasses three core values: vision, execution, and excellence.
He emphasized their focus on generating social impact, improving lives, and promoting inclusion within communities.
Currently, seven companies under Heirs Holdings are listed on the Nigerian Exchange, including Transcorp Hotels, Transcorp Plc, United Bank for Africa, Afriland Properties, United Capital, and Africa Prudential.
Owen Omogiafo, Group CEO of Transnational Corporation Plc, mentioned that Transcorp Group is Nigeria’s largest listed diversified conglomerate with investments spanning strategic sectors such as power, hospitality, and energy.
She highlighted that Transcorp accounts for approximately 15% of Nigeria’s power generation, covering over 130,000 square kilometers through its direct and indirect investments. Additionally, she noted that Transcorp’s hospitality sector is a leading player in Nigeria.
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Peter Ashade, CEO of United Capital, highlighted the company’s success in delivering value to its shareholders and advancing the financial ecosystem.
Adesimbo Ukiri, CEO of Avon HMO, emphasized the company’s role in enhancing Nigeria’s healthcare sector through their Health Maintenance Organization (HMO) facilities.
Avon HMO has reached approximately 500,000 Nigerians with their hospital services and health plans. The company has disbursed over ₦38 billion in hospital claims.
Ukiri expressed pride in their achievements over the past 11 years, noting their health plans cater to a broad range of individuals and businesses.
Avon HMO currently operates in Lagos and Abuja, with additional locations in Afam and Ughelli, and plans to expand further across Nigeria.
She also pointed out the need for more favorable regulations to boost HMO penetration, which is currently at just 8% of the population.
Omachi Chris-Asoluka, CEO of the Tony Elumelu Foundation, shared that the foundation has invested $100 million in 20,000 young African entrepreneurs, who have, in turn, created 400,000 jobs across the continent and fostered numerous networks and opportunities.
Additionally, the group announced a significant development in their financial services sector: securing a license to operate as an Asset Manager within the West African Economic and Monetary Union (WAEMU).
This expansion covers countries including Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
Heirs Holdings, a family-owned investment firm, is committed to transforming Africa by investing in its future.
The company’s diverse portfolio includes power, energy, financial services, hospitality, real estate, technology, and healthcare, with operations spanning 24 countries globally.
