Tony Elumelu, the Chairman of Heir Holdings, says the group will list more of the firms in its portfolio on the Nigerian Exchange.
Elumelu who stated this at a media parley to mark the 14th anniversary of Heirs Holdings on Wednesday in Lagos, said the decision is to democratise prosperity.
He also stated that the group would be considering listing in other African markets in the future when the environment is right.
“All our businesses in African countries are privately owned. We would like to democratise prosperity by listing them in those markets. Where we have listed, people have benefited significantly from the listing. So, we will initiate public offering in those markets, but at the right time to do so.”
According to Elumelu, in 2010, Heirs Holding set out with a bold vision to actively invest long-term in Africa’s key strategic sectors to unlock Africa’s full potential.
“Through the group’s relentless dedication and resilience, it has demonstrated that an African institution can consistently generate long-term value while leaving a legacy of success across Africa’s most vital sectors.”
“Our journey has been defined by unwavering tenacity, enabling us to seize opportunities and uphold our vision and principles. Most importantly, our efforts have fostered significant social impact, improving the lives of millions and driving inclusion within communities. For us in our Group, it is about three visions, execution, enterprise and excellence,” he explained.
Seven of Heirs Holdings’ companies are presently listed on the Nigerian Exchange.
They are Transcorp Hotels, Transcorp Plc, United Bank for Africa, Afriland Properties, United Capital, and Africa Prudential.
Also, the Group CEO of Transnational Corporation Plc, Owen Omogiafo, noted that Transcorp Group is Nigeria’s largest listed diversified conglomerate, with investment in strategic sectors of power, hospitality, energy, etc.
“As of today, we account for about 15 per cent of Nigeria’s power generation. With our investment in distribution, we actually cover a landscape of over 130,000 square kilometres. We have two power companies. Transcorp Power and Trans-Afem Power, which are direct investments; and we have an indirect investment in Abuja Electric Distribution.
“Our hospitality business is a leader in the hospitality sector of the country,” she stated.
Also, the Group CEO of United Capital, Peter Ashade, said that the company had created value for its shareholders and contributed to the growth of the financial ecosystem.
For the CEO of Avon HMO, Adesimbo Ukiri, “We are contributing to the growth of the Healthcare sector in the country with our HMO facilities.
We have impacted about 500,000 Nigerians through the services we provide at the hospitals and the health plans that we provide. We have health plans at the HMO that cater for all classes of people. We have paid hospital claims of over N38bn.
“We are quite proud of what we have been able to achieve over the past 11 years of our existence. So, for instance, we have impacted about 500,000 Nigerians through the services we provide at the hospitals, and also through the health plans that we provide. We have health plans at the HMO that cater to all classes of people. We have health plans for companies, for individuals and their families. We have also worked with communities.”
According to her, the firm is currently in Lagos and operates a clinic in Abuja, adding, “We are in Afam, we are in Ughelli. But we want to go to other parts of Nigeria as well and set the standard for healthcare (11:20) provision.
“We are also looking to expand what we do on the HMO side. We believe that the regulation can be more favourable because as it is now, the HMO is a compulsory subscription to healthcare plans. But it is compulsory subscription to what the law says is a government plan.
“So we are waiting for further clarification on whether once it is subscribed to a private plan, you have also met that. That will enable us to invest much more and drive penetration. Penetration in Nigeria right now is just about 8 per cent. 8 per cent of the population have access to healthcare coverage. That means 92 per cent don’t. Nigeria is huge.”
The CEO of the Tony Elumelu Foundation, Omachi Chris-Asoluka, added the foundation had invested $100m into the lives of 20,000 young African entrepreneurs, who had created 400,000 jobs on the continent and created networks and opportunities for many more.
The group disclosed, “Most recently, our financial services Group received a major boost to our pan-African expansion strategy by securing a license to operate as an Asset Manager with coverage in the West African Economic and Monetary Union (WAEMU) regional bloc covering the Republic of Benin, Burkina Faso, Côte D’Ivoire, Guinea-Bissau, Mali, Nger, Senegal and Togo.”
Heirs Holdings is a family-owned investment company, dedicated to improving lives and transforming Africa, through a deep commitment to invest in the continent’s future.
Its diverse investment portfolio spans the power, energy, financial services, hospitality, real estate, technology, and healthcare sectors, with operations in 24 countries worldwide.
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