Heirs Holdings Inaugurates HH Group Directors’ Annual Summit

Heirs Holdings (HH), the leading pan-African investment company, convened over 100 board members from across all HH investee companies, at the HH Group Directors’ Annual Summit.

The HH Group Summit, held at the iconic Transcorp Hilton Hotel in Abuja from June 1316, 2024, drew on the experience of board members of investee companies from sectors where HH invests: healthcare, power, energy, technolog y, financial services, hospitality, and real estate.

Also present were trustees of the Group’s philanthropy, the Tony Elumelu Foundation, which catalyses young entrepreneurs across Africa. The convening provided the opportunity to reinfo rce the Group’s strong governance practices and identify opportunities for inno vation and impact, as well as celebrating business achievements.

Speaking at the HH Group Summit, Tony O. Elumelu, CFR, Group Chairman, He irs Holdings, emphasised HH’s mandate to ‘build to last’ and to “build for impa ct”. He said: “Over the past decade, we have inculcated in our business the cri ticality of strong corporate governance practices. We only invest for the long t erm, strategically and patiently. These twin commitments are fundamental to our success; we are indeed building to last, redefining success in every sector we operate in, and demonstrating our purpose to improve lives and transform Africa”.

The HH Group Summit culminated in a closing ceremony and dinner, hosting i nfluential figures across Nigeria’s public and private sectors, including the Vice President of Nigeria, His Excellency, Senator Kashim Shettima, GCON, Federal Ministers, Ambassadors, policy makers and leaders of civil society.

Speaking at the closing ceremony, Vice President Shettima remarked, “When t he history of Nigeria and indeed Africa’s banking history and revolution will be written, one name will stand out – having carved a niche for itself and engrave d its name on the walls of banking and Africa’s entrepreneurship.

Tony Elumelu has become an enigma, a banking colossus, a power industrialis t, and a force that cannot be ignored. He is one of our own who believed in Nig eria and threw his heart into it. He is a Nigerian economist, entrepreneur and i ndeed a philanthropist, who has given life meaning to millions of Nigerians an d Africans.”

The success and impact of Heirs Holdings reflects the philosophy of Africapita lism, the belief that the African private sector can change the course of Africa n development, but that it must be committed to doing good and doing well.

To date, HH investee companies employ over 40,000 people across 20 African countries, the United Kingdom, UAE, France, and the United States of Americ a. The HH portfolio includes investments in Heirs Energies Limited, Africa’s le ading indigenous-owned integrated energy company, that produces over 40k bpd, which is transforming resource-based value chains, making African resou rces work for Africa; Heirs Insurance Group, championing financial inclusion an d leading the digital transformation of the insurance ecosystem in Nigeria, wit h a mission to democratise access to insurance; United Capital Plc, a leader in Investment Banking, Asset Management, Trusteeship, Securities Trading, We alth Management, and Consumer Finance; Nigeria’s largest quoted conglomer ate, Transcorp Group Plc, whose subsidiaries include Transcorp Power, one of the leading producers of electricity in West Africa and Transcorp Hotels Plc, Ni geria’s foremost hospitality brand; our healthcare brands, Avon HMO and Avon Medical, which are providing Nigerians with access to quality healthcare; Afrila nd Properties, a real estate investor and developer; technology brands, Redtec h and Heirs Technologies, championing digital transformation; and the United Bank for Africa Plc (UBA), Africa’s Global Bank, which serves more than 45 mill ion customers globally, across four continents.

The HH Group also boasts three NSE listed stocks each worth over N1trillion (SWOOTS) within its portfolio and manages an investment portfolio size worth N10.6trillion/USD7.1 billion.

Heirs Holdings’ philanthropy, the Tony Elumelu Foundation, has impacted 1.5 million young Africans, and disbursed US$100 million in seed capital to 20,000 young African entrepreneurs across all 54 African countries, whose businesse s have created over 400,000 jobs.

About Heirs Holdings

Heirs Holdings is a leading pan-African investment company. Its investment p ortfolio spans the power, energy, financial services, hospitality, real estate, hea Ithcare 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 thi s philosophy, Heirs Holdings invests for the long-term, bringing strategic capita I, sector expertise, a track record of business success and operational excellen ce, to its portfolio companies.

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