Heirs Holdings was founded in 2010 by Tony O. Elumelu has more than 670 employees, CON after his retirement in 2010 from the United Bank for Africa (UBA) Plc, where he had served as Group Managing Director.[3][4]
In 2011, Heirs Holdings made its first investment by acquiring a controlling stake in Transcorp, Nigeria's largest listed conglomerate.[5][6]
In 2012, Heirs Holdings made further investments in the real estate and financial sectors. Afriland Properties Plc, a property management, investment, and development company; United Capital Plc, a financial and investment services group; and Africa Prudential Registrar Plc, a share registration service provider.[7]
In 2013, Heirs Holdings committed US$2.5bn, as the single largest private sector investor in President Barack Obama Power Africa Initiative with the ambition to add 30,000MW of new electricity generation capacity, to increase electricity access by at least 60 million new connections in Sub-Saharan Africa.[8][9]
In 2020, Heirs Holdings successfully acquired OML17 from Shell, Total and Eni in what's termed the largest oil and gas transaction in Africa for the year 2020.[10][11][12]
Heirs Holdings’ interests and investment in financial services cuts across banking, insurance, investment banking, asset management and capital market registration.[14][15]
United Bank for Africa Plc (UBA) – A Nigerian pan-African financial services group headquartered in Lagos with subsidiaries in 20 African countries and offices in London, Paris, and New York.
United Capital Plc – Financial and investment services group
Africa Prudential Registrars – A Nigerian Capital Market Registration Company
NASD OTC Market – A secondary trading market for securities of unlisted public limited companies (PLC) primarily in Nigeria
Transcorp Power – power generating companies in Nigeria in electricity generated and wheeled unto the national grid. Following power sector reforms in Nigeria and privatization of national power assets, Transcorp Plc won the bid for a distressed power generating company, Ughelli Power Plc – operator of Ughelli Power Plant in 2012 and the Afam Power Plant in 2020.[16][17]
These investments are part of Heirs Holdings’ commitment to USAID's Power Africa initiative.[18]
Tenoil Petroleum & Energy Services (TENOIL) – An indigenous operator of OPL 2008, a 40 km2 block which holds gas reserves and operates under a Production Sharing Contract with the Nigerian National Petroleum Corporation.[19]
Heirs Oil & Gas – An integrated energy company. In January 2021, Heirs Holdings announced its acquisition of 45% operating stake in a permit known as Oil Mining Lease 17 from Shell, Total and ENI in a deal worth more than $1 billion.[11]
Healthcare
Investment in health facilities, equipment, and services.[20]
Avon HMO – A Health maintenance organisation (HMO) licensed by Nigeria's National Health Insurance Scheme (NHIS) to operate as a national HMO in October 2012
Avon Medical Practice – A private healthcare provider based in Lagos, Nigeria.
^"Heirs Holdings Investments". Heirs Holdings. from the original on October 27, 2021. Retrieved November 6, 2021.
^"Nigerian Mogul Tony Elumelu Makes $123 Million In 3 Weeks". Forbes. from the original on October 25, 2021. Retrieved October 20, 2021.
^"Elumelu returns to UBA as Board Chairman". from the original on October 25, 2021. Retrieved October 20, 2021.
^"The 20 Most Powerful People In African Business 2012". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Shares: Heirs Holdings' Strategic Buy Shocks Transcorp Board". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Heirs Holdings push Transcorp shares higher on NSE". from the original on October 25, 2021. Retrieved October 20, 2021.
^"HH at Ten". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Can Moguls Untangle Nigeria's Power Lines?". from the original on October 25, 2021. Retrieved October 20, 2021.
^"POWER AFRICA PRIVATE SECTOR PARTNERS". from the original on October 22, 2021. Retrieved October 20, 2021.
^"Afreximbank releases $250m for TNOG's acquisition of 45% stake in OML 17". from the original on October 27, 2021. Retrieved October 20, 2021.
^ ab"Nigeria's Heirs Holdings buys 45% stake in OML 17 onshore oilfield". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Nigeria: OML 17 allows Tony Elumelu's Heirs to take on Seplat". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Africa's Heirs Holdings Portfolio Company, Planet Labs, is Going Public". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Investment Portfolio". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Holding Company – Heirs Holdings". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Only two of six privatised power plants delivered on targets – BPE". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Transcorp buys Afam power". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Transcorp Nigeria Plc to invest $2.5bn in power sector". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Nigeria: Tony Elumelu gets deeper into oil sector with OML 17". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Avon Medical launches new dialysis centre". from the original on October 25, 2021. Retrieved October 20, 2021.
^"Heirs Holdings – About us – Heirs Holdings – About us". from the original on October 25, 2021. Retrieved November 6, 2021.
External links
Official website
August 18, 2023
heirs, holdings, family, owned, investment, holding, company, headquartered, lagos, nigeria, with, investment, interests, various, sectors, africa, typeprivateindustryfinancial, services, power, real, estate, hospitality, healthcare, insurancefoundedaugust, 20. Heirs Holdings is a family owned investment holding company headquartered in Lagos Nigeria with investment interests in various sectors in Africa 2 Heirs HoldingsTypePrivateIndustryFinancial services Power Oil and Gas Real Estate Hospitality Healthcare and InsuranceFoundedAugust 1 2010 13 years ago 2010 08 01 FoundersTony ElumeluHeadquartersIkoyi Lagos NigeriaArea servedWorldwideKey peopleTony ElumeluChairmanEmmanuel NnoromGroup CEOWebsiteheirsholdings comFootnotes references 1 Contents 1 History 2 Investments overview 2 1 Financial Services 2 2 Real Estate and Hospitality 2 3 Power Oil amp Gas 2 4 Healthcare 3 Leadership 3 1 Board of directors 4 References 5 External linksHistory EditHeirs Holdings was founded in 2010 by Tony O Elumelu has more than 670 employees CON after his retirement in 2010 from the United Bank for Africa UBA Plc where he had served as Group Managing Director 3 4 In 2011 Heirs Holdings made its first investment by acquiring a controlling stake in Transcorp Nigeria s largest listed conglomerate 5 6 In 2012 Heirs Holdings made further investments in the real estate and financial sectors Afriland Properties Plc a property management investment and development company United Capital Plc a financial and investment services group and Africa Prudential Registrar Plc a share registration service provider 7 In 2013 Heirs Holdings committed US 2 5bn as the single largest private sector investor in President Barack Obama Power Africa Initiative with the ambition to add 30 000MW of new electricity generation capacity to increase electricity access by at least 60 million new connections in Sub Saharan Africa 8 9 In 2020 Heirs Holdings successfully acquired OML17 from Shell Total and Eni in what s termed the largest oil and gas transaction in Africa for the year 2020 10 11 12 Investments overview EditHeirs Holdings Investments are organised into six verticals Financial Services Power Oil and Gas Real Estate Hospitality and Healthcare 13 Financial Services Edit Heirs Holdings interests and investment in financial services cuts across banking insurance investment banking asset management and capital market registration 14 15 United Bank for Africa Plc UBA A Nigerian pan African financial services group headquartered in Lagos with subsidiaries in 20 African countries and offices in London Paris and New York United Capital Plc Financial and investment services group Africa Prudential Registrars A Nigerian Capital Market Registration Company NASD OTC Market A secondary trading market for securities of unlisted public limited companies PLC primarily in Nigeria Heirs Insurance Brokers Limited HIB insurance broking and risk management firm Heirs Insurance Limited covers general insurance services Heirs Life Assurance Limited provides specialist life insurance services Real Estate and Hospitality Edit Investment in property development and facility management services Afriland Properties Plc Property management development company working across the real estate value chain Transcorp Hotels plc Nigerian based hospitality firm and owner of the Transcorp Hilton Hotel Abuja Power Oil amp Gas Edit Investment in Power Oil amp Gas sectors Transnational Corporation of Nigeria diversified conglomerate with business interests are in Power and Energy Transcorp Power power generating companies in Nigeria in electricity generated and wheeled unto the national grid Following power sector reforms in Nigeria and privatization of national power assets Transcorp Plc won the bid for a distressed power generating company Ughelli Power Plc operator of Ughelli Power Plant in 2012 and the Afam Power Plant in 2020 16 17 These investments are part of Heirs Holdings commitment to USAID s Power Africa initiative 18 Tenoil Petroleum amp Energy Services TENOIL An indigenous operator of OPL 2008 a 40 km2 block which holds gas reserves and operates under a Production Sharing Contract with the Nigerian National Petroleum Corporation 19 Heirs Oil amp Gas An integrated energy company In January 2021 Heirs Holdings announced its acquisition of 45 operating stake in a permit known as Oil Mining Lease 17 from Shell Total and ENI in a deal worth more than 1 billion 11 Healthcare Edit Investment in health facilities equipment and services 20 Avon HMO A Health maintenance organisation HMO licensed by Nigeria s National Health Insurance Scheme NHIS to operate as a national HMO in October 2012 Avon Medical Practice A private healthcare provider based in Lagos Nigeria Leadership EditBoard of directors Edit As of August 1 2021 21 Tony Elumelu chairman Emmanuel Nnorom CEO Dr Awele Elumelu Non Executive Director Angela Aneke Independent Non Executive Director Alex Trotter Independent Non Executive Director Andrew Alli Independent Non Executive Director Victor Osadolor Non Executive Director Dan Okeke executive director Chiugo Ndubisi executive director References Edit Heirs Holdings Investments Heirs Holdings Archived from the original on October 27 2021 Retrieved November 6 2021 Nigerian Mogul Tony Elumelu Makes 123 Million In 3 Weeks Forbes Archived from the original on October 25 2021 Retrieved October 20 2021 Elumelu returns to UBA as Board Chairman Archived from the original on October 25 2021 Retrieved October 20 2021 The 20 Most Powerful People In African Business 2012 Archived from the original on October 25 2021 Retrieved October 20 2021 Shares Heirs Holdings Strategic Buy Shocks Transcorp Board Archived from the original on October 25 2021 Retrieved October 20 2021 Heirs Holdings push Transcorp shares higher on NSE Archived from the original on October 25 2021 Retrieved October 20 2021 HH at Ten Archived from the original on October 25 2021 Retrieved October 20 2021 Can Moguls Untangle Nigeria s Power Lines Archived from the original on October 25 2021 Retrieved October 20 2021 POWER AFRICA PRIVATE SECTOR PARTNERS Archived from the original on October 22 2021 Retrieved October 20 2021 Afreximbank releases 250m for TNOG s acquisition of 45 stake in OML 17 Archived from the original on October 27 2021 Retrieved October 20 2021 a b Nigeria s Heirs Holdings buys 45 stake in OML 17 onshore oilfield Archived from the original on October 25 2021 Retrieved October 20 2021 Nigeria OML 17 allows Tony Elumelu s Heirs to take on Seplat Archived from the original on October 25 2021 Retrieved October 20 2021 Africa s Heirs Holdings Portfolio Company Planet Labs is Going Public Archived from the original on October 25 2021 Retrieved October 20 2021 Investment Portfolio Archived from the original on October 25 2021 Retrieved October 20 2021 Holding Company Heirs Holdings Archived from the original on October 25 2021 Retrieved October 20 2021 Only two of six privatised power plants delivered on targets BPE Archived from the original on October 25 2021 Retrieved October 20 2021 Transcorp buys Afam power Archived from the original on October 25 2021 Retrieved October 20 2021 Transcorp Nigeria Plc to invest 2 5bn in power sector Archived from the original on October 25 2021 Retrieved October 20 2021 Nigeria Tony Elumelu gets deeper into oil sector with OML 17 Archived from the original on October 25 2021 Retrieved October 20 2021 Avon Medical launches new dialysis centre Archived from the original on October 25 2021 Retrieved October 20 2021 Heirs Holdings About us Heirs Holdings About us Archived from the original on October 25 2021 Retrieved November 6 2021 External links EditOfficial website Retrieved from https en wikipedia org w index php title Heirs Holdings amp oldid 1154411572, wikipedia, wiki, book, books, library,
