Yesterday, Transcorp Group held its 19th Annual General Meeting.
In 2011, HH became a significant investor in Transcorp. We saw extraordinary value, an ability to turn around a national asset, to make good on the promise to Transcorp’s more than 300,000 shareholders. It has been a remarkable transformation, implementing a robust execution strategy and strong corporate governance. For HH, business success and good governance go hand in hand.
It has been a journey of purposeful growth. We have shared our success – 11 years of restored dividend payments – and this year’s dividend increase was 150%.
But it has also been about investing in those sectors that can transform Nigeria:
- Hospitality – We have redefined hospitality with Transcorp Hotels Plc, which is expanding further with the launch of our world-class, 5,000-capacity Event Centre. When Nigeria greets the world, we provide the forum.
- Integrated energy: Our portfolio includes Transcorp Power plants, which now produces almost 20% of Nigeria’s power consumption, and extends power supply to Benin Republic — powering homes, schools, hospitals, and industries, enabling economic growth.
- Heirs Energies contributes to Nigeria’s gas supply and feeds our integrated energy strategy.
- People: We invest in people, creating pathways to opportunity and structured career advancement for young Nigerians.
Transcorp Group’s combined market capitalisation has grown to an astonishing USD3bn (N4.55 trillion) up from N12.9bn when we took over. Value that has been shared with all shareholders. Beyond this, we do well and do good, paying tribute to our purpose to improve lives and transform Nigeria.
To our shareholders, your trust, loyalty, and continued confidence in our vision are the bedrock of our success. We are grateful for your support and remain fully committed to sustaining this momentum.
I also extend my heartfelt appreciation to the members of our Board for their steadfast leadership. To our GCEO, Owen Omogiafo, the CEOs across the Group, and every member of our dedicated workforce — thank you for your remarkable contributions to building a truly global African role model.
The future of Transcorp Group is bright, and together, we will continue to #ImproveLives & #TransformAfrica.
