Heirs Holdings, a renowned African investment group managed by Nigerian business leader Tony Elumelu, intends to increase its presence on the Nigerian Exchange (NGX) by listing additional portfolio firms. This move seeks to “democratize prosperity” by expanding Nigerians’ access to investment opportunities.
Elumelu, Founder and Group Chairman of Heir Holdings, made the statement at a media event in Lagos commemorating the company’s 14th anniversary. He indicated that the business is considering listing its companies in other African markets if the conditions are right.
“All of our enterprises in African countries are privately owned. We want to democratize prosperity by listing them on these exchanges. “Where we have listed, people have benefited significantly,” Elumelu stated. “So, we will initiate public offerings in those markets, but at the right time to do so.”
Heirs Holdings recently launched Heirs Technologies, a company focused on accelerating Africa’s digital revolution with innovative solutions customized to the continent’s specific demands. Elumelu’s portfolio of publicly traded enterprises, which includes Transcorp Hotels, Transcorp Plc, United Bank for Africa, United Capital, Africa Prudential, and the newly listed Transcorp Power and Afriland Properties, demonstrates his impact on the African corporate environment.
Elumelu stated that Heirs Holdings’ journey since its establishment in 2010 has been led by a long-term ambition to invest in Africa’s core vital sectors and realize the continent’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,” the president said.
Transcorp Group’s CEO, Owen Omogiafo, stressed that the company remains Nigeria’s largest listed conglomerate, with a significant presence in electricity, hospitality, and energy. Meanwhile, Peter Ashade, United Capital’s Group CEO, emphasized the company’s role in increasing shareholder value and contributing to the expansion of Nigeria’s financial ecosystem.
Under Tony Elumelu’s leadership, Heirs Holdings has established itself as a cornerstone of Africa’s investment environment. The corporation, noted for its large and diverse portfolio, has made tremendous progress in industries ranging from finance and energy to healthcare, real estate, hotels, and emerging technologies. These strategic investments are part of a bigger effort to promote inclusive growth and contribute to Africa’s long-term success.
Elumelu, who also serves as head of the United Bank for Africa and Transcorp, has helped Heirs Holdings achieve success. His leadership has permitted significant acquisitions while also ensuring the smooth operation of the company’s diverse businesses. Through these initiatives, Heirs Holdings continues to play an important role in transforming the African continent’s economic environment, with a focus on long-term growth and increasing regional quality of life.
