Heirs Holdings Celebrates 7th year Anniversary

8th August 2017


On August 1, 2017, Pan-African investment company, Heirs Holdings, celebrated its 7th year anniversary. With growing investments in oil & gas, power, hospitality, financial services, health care, and agriculture sectors, Heirs Holdings is building a legacy while impacting lives and transforming the African continent.


Heirs Holdings recently signed a $100million MOU with Afreximbank to support its cross-border investment programme across 20 African countries. This is its first significant institutional financing, an important milestone illustrating the trust development organisations have in the company’s vision and commitment.

It also announced a few milestones achieved by its investee companies in the past year:

Heirs Holdings announced Emmanuel Nnorom as its Chief Executive Officer. Nnorom was the President and CEO at Transcorp, where he played a significant role in Transcorp’s turnaround.

United Capital Plc announced a 133% profit growth in 2016; the team also launched two new mutual funds, which have now been listed on the Nigerian Stock Exchange;

Transcorp Plc, Nigeria’s conglomerate, made Africa Report’s list of top 500 African companies and announced a 134% profit increase in half-year 1 2017. Transcorp Plc also announced Adim Jibunoh as its new President and CEO.

Transcorp Power Limited commissioned a 115MW gas turbine in a move to increase its current generating capacity to over 620MWs (with the addition of the turbines on routine maintenance it should be over 750MWs). Transcorp Power is now Nigeria’s largest producers of power contributing 15-18% of Nigeria’s current total power generation, a figure that will only increase.

Transcorp Hilton celebrated its rich history and legacy at its 30th year anniversary, shortly after the completion of the $100m upgrade of its facilities. Among other awards, it has been nominated again for the World Travel Awards.

Africa Prudential was awarded best registrar in Africa by the Africa-Canada Trade Alliance at the 7th Edition of the West Africa Innovation and Excellence Awards ceremony;

Avon HMO, during their 3rd year anniversary, revolutionised the HMO industry, by launching a digital ecommerce portal to facilitate better access to health plans.

Avon Medical expanded its service to include an ENT clinic at its Surulere office, as well as the immunization and antenatal clinics at City Hall.

Afriland Properties announced a 10% increase in their assets.


Tony O. Elumelu, Chairman, Heirs Holdings, commended the staff for their diligence and contribution to the company’s growth since its inception. “I congratulate everyone for these achievements. There are true to our core values of excellence, enterprise and execution,” he said.


Heirs Holdings also invests in the African youth entrepreneurship ecosystem through The Tony Elumelu Foundation which has successfully incubated 3,000 African entrepreneurs across Africa in the past 3 years. The Foundation’s entrepreneurship programme seeks to endow 10,000 African entrepreneurs with $100million in 10 years.


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