L-R: Chiugo Ndubisi, Heirs Holdings; Owen Omogiafo, OON, Transcorp Plc; Peter Ashade, United Capital Plc; Somachi Chris-Asoluka, Tony Elumelu Foundation; Dr Awele Elumelu, OFR, Co-Founder Heirs Holdings; Tony Elumelu, CFR, Founder/Group Chairman, Heirs Holdings; Emmanuel Nnorom, Group CEO, Heirs Holdings; Adesimbo Ukiri, Avon HMO; Osa Igiehon, Heirs Energies and Niyi Onifade, Heirs Life Assurance, at the 14th anniversary of Heirs Holdings held at Heirs Place in Ikoyi, Lagos
Lagos, Nigeria – Aug 29, 2024
Heirs Holdings, the leading African investment company, committed to improving lives and transforming Africa, celebrated its 14th anniversary this week.
The Group, founded in 2010 and chaired by Tony O. Elumelu, CFR, and whose portfolio spans power to financial services, real estate, hospitality, healthcare, technology and energy resources, has seen extraordinary growth in less than a decade and a half; building a reputation for value creation and turnaround, whilst also demonstrating a commitment to giving back, through the Tony Elumelu Foundation, whose programmes catalyse entrepreneurship across Africa.
The event was held at Heirs Holdings’ head office in Ikoyi, where business leaders across the Group’s 24 businesses presented to financial analysts and media representatives. The event highlighted the Group’s achievements as a role model for Africa’s economic transformation. It also featured a fireside chat where executives discussed the Group’s impact across its portfolio and ambitions for the future. The portfolio includes 7 listed companies, including stock market bellwether Transcorp, and the price appreciation enjoyed by all shareholders has demonstrated Heirs Holdings’ commitment to creating and sharing wealth.
The total capitalisation of the Group’s investee companies has soared by over 4140%, with three of its NGX-listed portfolios achieving SWOOT status (Stocks worth above N1 trillion). The Group’s subsidiaries and portfolio investments operate globally, serving over 45 million customers, including businesses and governments, with a dedicated workforce of more than 40,000 employees.
Its philanthropic arm, the Tony Elumelu Foundation, has disbursed USD100 million as non-refundable grants directly to 20,000 young African entrepreneurs, who have, in turn, created 400,000 jobs across the continent.
Heirs Holdings’ commitment to transforming Africa’s economy and the work of the Tony Elumelu Foundation both embody the commitment to Africapitalism, the economic philosophy of Tony Elumelu. Africapitalism calls for the private sector to lead and catalyse social and economic change, doing well and doing good. As part of this broader responsibility, Heirs Holdings advocates for African voices and an ‘Africa’ agenda globally, across trade, development and climate, regularly bringing an African perspective to the United Nations General Assembly, World Economic Forum, and United Nations Climate Meetings, among others.
Group Chairman, Heirs Holdings, Tony O. Elumelu, CFR, stated, “When we set out on this journey, we had a vision. That vision has been more than fulfilled. All the great things that Heirs Holdings have achieved in 14 years have been possible because of the great men and women that we have assembled. This team took that vision and executed it. Leadership is all about assembling great teams, we have been blessed. Heirs Holdings is defined by our impact, what we call HH Impact. We all look forward to multiplying that HH Impact in the years to come.”