Heirs Holdings is a Group that believes in partnership. With global brands such as Hilton, with African nations, in Benin, where we supply more than a third of domestic electricity, with our philanthropic arm the Tony Elumelu Foundation, in our partnerships with the European Union (EU), the Red Cross, the United Nations Development Programme (UNDP) and many others.
For Africapitalism to thrive, collaboration is essential: fostering partnerships between businesses and governments, and building strong local and global alliances, is core to our mission.
Last week Heirs Holdings’ Group Chairman, Tony O. Elumelu, CFR was invited to join Nigeria’s President, His Excellency Bola Ahmed Tinubu on a two-day state visit to France to deepen economic and diplomatic ties. Nigeria is France’s leading trading partner in sub-Saharan Africa, accounting for approximately 20% of the region’s trade with France. During the trip, I participated in high-level forums and engagements, to strengthen existing relationships and forge new partnerships.
Thursday, November 28:
He participated in the France-Nigeria Business Council meeting, a high-level forum focused on exploring and enhancing economic opportunities between the two strategic partners. As a founding member of the France-Nigeria Business Council (FNBC), Mr. Elumelu has long championed this formidable partnership between both countries—one built on mutual respect and shared ambition.
On the occasion of His Excellency President Bola Ahmed Tinubu’s historic state visit to France, Mr. Elumelu signed a business cooperation agreement with the French Finance Minister, Antoine Armand, in the presence of President Tinubu and the President of France, Emmanuel Macron. The agreement is a significant indication of support by the French Government for the development of the United Bank for Africa’s (UBA) full banking operations in France.
Where trade goes, UBA goes – its mission is to help Africa grow, to support businesses importing and exporting, to ensure Africans and friends of Africa, have a dependable financial partner. That is why UBA is Africa’s Global Bank!
Expanding into France is a natural progression for the UBA Group, with Paris serving as UBA’s European Union hub. Paris will join London, New York and Dubai, as a critical component of our unique global network, which will allow UBA to play a pivotal role in fostering mutual growth and prosperity across continents.
He concluded the day by attending a State Dinner at the Élysée Palace, graciously hosted by my good friend, French President H.E. Emmanuel Macron. President Macron has a special place in his heart for Nigeria. He spent his national service in Abuja, and he fondly remembered the electrifying moment when he joined 1,000 TEF entrepreneurs, with our Group Chairman in a session in Lagos in 2018 – when politics and entrepreneurship came together.
Friday, November 29:
Owen Omogiafo, President/GCEO of Transcorp Group Plc, who was part of Mr. Elumelu’s travel delegation, took part in the Mouvement des Entreprises de France (MEDEF) International Business Forum, a platform for fostering global partnerships and unlocking economic opportunities.
Our history with MEDEF goes back to 2015, when they brought dozens of French businesses to Nigeria, most of them for their first visit to the continent. At the time, we hosted them at UBA House and made it clear that we were ready to do business. Over the years, Mr. Elumelu has remained a strong supporter of MEDEF and the French private sector in Africa.
Africa stands at a pivotal crossroad, poised to harness emerging global opportunities and move beyond conventional strategies. Central to this transformation is the need to establish these impactful partnerships, with a particular focus on infrastructure investment which is critical to driving sustainable growth.
On this trip, Tony O. Elumelu, CFR was also accompanied by key executives from our Group, including Owen Omogiafo, President/GCEO of Transcorp Plc; Rene Laurent Alciator, MD/CEO of UBA France; and Alex Trotter, Independent Non-Executive Director of Heirs Holdings and Trustee of the Tony Elumelu Foundation.