In June this year, we brought together over 100 directors from Heirs Holdings Group companies, at our iconic Transcorp Hilton.
23 companies were present; 7 critical sectors; global companies and young startups; and our philanthropy, the Tony Elumelu Foundation.
We discussed governance, institutionalisation, future strategy, but we also took time to consider our legacy and our purpose.
It is a great time to celebrate that legacy and rededicate ourselves to that purpose. This month, we celebrate 14 years of Heirs Holdings — what we collectively have created, what we tangibly witnessed in Abuja, a Group defined by transformation and excellence, a team united around a single vision.
In 2010, we embarked on a bold journey: to invest across key strategic sectors and to catalyse Africa. Our vision was clear: to establish a role model company, that embodies African aspirations and values, one that endures and champions Africa on the global stage. We committed ourselves to building a lasting legacy.
As we reflect, on what we have achieved, driven by our core values of excellence, enterprise, and execution, we look both back, and forward. We have built a reputation for transforming sectors and turning around businesses, innovation and daring, exemplifying how strong corporate governance, discipline, and resilience can drive success. We have faced challenges, at times setbacks, but all of us should be in awe of what has been created.
Our 14th anniversary is significant – we can demonstrate that the seeds we planted yesterday, have grown and continue to multiply.
And we have created impact – what we call “HH Impact” – we have built to last and built for impact. These 14 years are the clearest evidence that Africapitalism works.
Let us reflect on the highlights of our journey:
- Since inception, our portfolio valuation has grown from N250 billion in 2010, when we started to N11 trillion, as of 2024.
- Our subsidiaries and portfolio companies, operating globally, serve more than 45 million customers, including businesses and governments, with a dedicated workforce of over 40,000 employees.
- Let us reflect on just some of those achievements:
- In the power sector, our output has grown from 150MW to 905MW – a six-time increase! We are innovating with the new embedded power project in Abuja, we are investing across the value chain, as we patiently, but strategically, enter the last mile market, with our turnaround of AEDC.
- In resources, we have created Africa’s largest independent, indigenous production company, we have doubled production and, just as important, built extraordinary human capital, human resources that match our natural resources.
- Together these businesses give huge substance to our vision of integrated power and energy, our belief that African resources can serve African needs.
- Our insurance businesses, merely 3 years old, now serve 120,000 customers, innovating in digital distribution and customer service.
- Our hospitality business has transformed how visitors see Nigeria, and with the opening of our 5,000-capacity event centre, providing the most sophisticated physical platform for Africa’s success.
- Most recently, our financial services group received a major boost to our pan-African expansion strategy by securing a license to operate as an Asset Manager with coverage in the West African Economic and Monetary Union (WAEMU) regional bloc covering the Republic of Benin, Burkina Faso, Côte D’Ivoire, Guinea-Bissau, Mali, Nger, Senegal and Togo.
- Our philanthropy has invested USD100 million into the lives of 20,000 young African entrepreneurs, who have created 400,000 jobs on the continent and created networks and opportunities for many more. We now work with leading global development finance institutions and private foundations, a vital partner and intellectual leader in transforming how philanthropy can change the course of a continent.
- And we have shared those achievements, with our shareholders in our listed companies, individuals, pensioners, and institutional investors, as markets have rewarded our investments, dividends are paid and increased, and governance enhanced.
- Three of our NGX-listed portfolios have attained the SWOOT status (Stocks worth above N1 trillion).
- We founded an economic philosophy, Africapitalism, that serves as a blueprint for other organisations, and we have taken this principle to the world’s largest stages, creating an African voice, positioning an African agenda, bringing together Africa and the world, including at the United Nations General Assembly (UNGA), World Economic Forum, the United Nations Climate Meetings (COP), among others.
The Heirs Holdings story is a powerful narrative of institutionalisation and internationalisation, how a Group deeply rooted in Nigeria, has expanded its reach across Africa and established a global presence in four continents. Through our relentless dedication and resilience, we have demonstrated that an African institution can consistently generate long-term value, while leaving a legacy of success across Africa’s most vital sectors.
Our journey has been defined by unwavering tenacity, enabling us to seize opportunities and uphold our vision and principles. Most importantly, our efforts have fostered significant social impact, improving the lives of millions and driving inclusion within communities. We have unveiled innovative services that bring people closer to realising their dreams.
As we celebrate 14 fulfilling years, I want to extend my heartfelt congratulations to all of you—my HH People—for being integral to this journey of unlocking Africa’s full potential. Together, we are investing in Africa’s future and crafting a new African narrative.
As we reflect on our achievements, let us renew our commitment to driving transformative growth and creating a legacy of sustainable value. I eagerly anticipate more successes and milestones ahead.
Happy 14th anniversary.
