Leading Ivestment Company in Africa

Heirs Holdings Listed Portfolio Companies Exceed N2.4 trillion Market Cap

Lagos, Nigeria – Demonstrating a meticulously executed strategy, Heirs Holdings’ listed portfolio companies recorded great business success. The listed companies posted combined capital gains of N1.9 trillion and a combined market valuation of N2.4 trillion at the Nigerian Exchange (NGX) and NASD, at the start of 2024. This represents an astronomical growth when compared to N468 billion at the start of last year.

In 2023, Transcorp Hotels, Transcorp Plc, United Bank for Africa (UBA), Afriland Properties, United Capital, and Africa Prudential share prices grew by 1022.9%, 666.4%, 237.5%, 130.7%, 64.3% and 23.3% respectively.



The Heirs Insurance Group, following its consolidation, also cemented its place as the fastest-growing insurance group in Nigeria. The underwriting businesses of Heirs General Insurance and Heirs Life Assurance together achieved 79% growth, translating to N35.8bn in revenue for FY2023.

“As an organisation, our principles revolve around excellence, enterprise, and execution. Beyond providing financial investments, we also contribute invaluable sector expertise and operational excellence. These recent accomplishments solidify our standing as business turnaround champions”, Heirs Holdings GCEO, Emmanuel Nnorom said in a statement.

In extending congratulations to the group, Heirs Holdings Group Founder and Group Chairman, Tony O. Elumelu, CFR, remarked, “There is no greater independent validation of our strategy and execution than the success of our listed portfolio companies in the stock markets.”

In critical sectors vital for Africa’s progress, Heirs Holdings Group has consistently achieved turnaround success while simultaneously improving lives and transforming society.


About Heirs Holdings

Heirs Holdings is a leading pan-African investment company. Its investment portfolio spans the power, energy, financial services, hospitality, real estate, healthcare and technology sectors, operating in twenty-four countries worldwide.

Heirs Holdings is inspired by Africapitalism, the belief that the private sector is the key enabler of economic and social wealth creation in Africa. Driven by this philosophy, Heirs Holdings invests for the long-term, bringing strategic capital, sector expertise, a track record of business success, and operational excellence to its portfolio companies.