On completing his ten-year term as CEO of the United Bank for Africa (UBA), Tony O. Elumelu announces the establishment of Heirs Holdings (HH) and the Tony Elumelu Foundation (TEF) to drive private investment and champion entrepreneurship across Africa.
• The Tony Elumelu Foundation empowers 20 tech businesses with US $100,000 seed funding through Nigerian accelerator, CCHub Nigeria.
• The Tony Elumelu Foundation launches the ‘Blair-Elumelu Governance Initiative’, in partnership with the Tony Blair Africa Governance Initiative (AGI), a dedicated programme of skill building for senior civil servants, focusing on adopting private sector approaches to deliver for the public good.
• Transcorp Ughelli Power is named as the preferred bidder for Ughelli Power Plc, the largest electric power plant in Nigeria, under the privatisation programme of the Federal Government of Nigeria.
• Transcorp Hotels acquires the Metropolitan Hotels and Conferencing Limited, owners of the oldest hotel in Calabar, the Metropolitan Hotel Calabar. The hotel is renamed Transcorp Hotels Calabar.
• Heirs Holdings invests in 51% of Seadrill Nigeria Limited, a deep-water drilling contractor for the petroleum industry, furthering the strategic intent of identifying opportunities across the oil and gas value chain.
• Heirs Holdings co-founds AFEX Commodities Exchange in partnership with
Nicolas Berggruen’s, Berggruen Holdings, with the objective of bringing commodity value creation and deeper financial markets to the African continent.
• Illustrating our global ambitions, Heirs Holdings invests in Planet Labs, a Silicon-Valley based, earth imaging company.
• Heirs Holdings founds Avon Healthcare Limited (Avon HMO), a healthcare management organisation, to rapidly expand the provision of high-quality medical services to a much broader demographic.
• Heirs Holdings invests in and became the second largest shareholder in NASD OTC, creating an over the counter trading facility, to act as a platform for small company growth.