President of Transnational Corporation (Transcorp) Plc, Owen Omogiafo, has expressed profound gratitude to Tony Elumelu, the chairman of Heirs Holdings, for his visionary leadership and unwavering belief in her team.
Omogiafo, 44, conveyed her appreciation in response to an Instagram post by Mr Elumelu on Thursday, where he reflected on the remarkable transformation of Transcorp since its takeover by the investee company. Elumelu highlighted the journey that began in 2011 when Heirs Holdings acquired a controlling stake in the company, recognising its immense potential.
“We saw extraordinary value, an opportunity to turnaround a national asset, to make good on the promise to Transcorp’s more than 300,000 shareholders,” Elumelu wrote. He credited a robust execution strategy and strong corporate governance for the remarkable turnaround.
He further revealed that Transcorp Group’s combined market value had grown from N12.9 billion in 2011 to an astounding $3 billion (N4.5 trillion) today. “Thanks to shareholders, directors, CEOs, and every member of our workforce led by @owenomogiafo,” Elumelu added.
In her response, Omogiafo commented, “Thank you very much Chairman. We achieve because of the leadership you provide and your belief in us.”
Tony Elumelu founded Heirs Holdings in 2010, shortly after retiring as group managing director of United Bank for Africa (UBA) Plc. In 2011, the investment firm made its first major move by acquiring Transcorp, Nigeria’s largest listed conglomerate.
The impact of this acquisition was celebrated during Transcorp’s 19th Annual General Meeting (AGM) held at the Transcorp Hilton Abuja on Wednesday. Speaking at the AGM, Elumelu reiterated the group’s commitment to “improving lives and transforming Nigeria and Africa.”
