Heirs Holdings Takes Another Giant Step, Launches Its First-ever Television Commercials

By Elizabeth Chukwuma

 Barely one week after Heirs Holdings Launched Heirs Technologies,  with a mandate  to empower  Africa’s  digital  transformation  through innovative  and locally tailored solutions and to provide value added services that will capitalize  on top-tier technical expertise  while guaranteeing  accessibility locally,  the Conglomerate was said to have moved a step further  to Launch its first-ever Television Commercials, TVC, amid cheers from  invited guests  in Lagos,  the nation’s Financial and Commercial nerve center.

The TVC, according to a guest who had witnessed the Launching programme, was very revealing as it showcases the Group’s diverse investments in power, energy, financial services, hospitality, real estate, healthcare delivery facilities and technology sectors of African economy.

Heirs Holdings Launches TVC Company

The Company may have taken advantage of the Launching of the TVC, to highlight its commitment ‘’to driving positive change and sustainable development across the African Continent and beyond’’.  Given its compelling narrative, guests at the Launching of the multi-million  Heirs Holding TVC,  had describe it as ‘’captivating audience worldwide, shining a spotlight  on the company ‘s vision  and commitment  to improving live  and transforming the 54 African countries including Nigeria, the most populous country in the Continent.

When Tony Elumelu, CFR, a multi-billionaire business mogul, founded Heirs Holdings in 2010, after making significant strides in reshaping the nation’s banking industry, many saw it as a welcome development.

Until he founded the company, the business mogul was said to have made history when he led the biggest  merger  in the sub-Saharan Africa  at the time , combining  Standard Trust Bank, STB, plc,  with the older and more sophisticated  United Bank for Africa, UBA, plc, a Pan African Bank, which at the time was Nigeria’s third largest  Financial services institution.  

UBA head Office, Marina, Lagos

In establishing Heirs Holdings, Elumelu, had said that his goal was ‘’to transform the African economy through strategic long –term investments in various sectors of the economy critical to the Africa’s progress’’. Mrs.Clari Green, the Company’s Group Head  of Marketing and Corporate Communications, had said hat  in its thirteen years of existence,  the company has established  a reputation  for being ‘’consistent  in creating  value  while  driving  Africa’s social and economic agenda’’.

She  had alluded to the fact that Heirs Holdings has  an investment  portfolio  which spreads across  24 countries worldwide , describing it as intimidating  as the significant  milestones  it has achieved  since it was Launched  I 2010 . She had said that the spread confirms the company’s bold strategic initiative ‘’to focus on the African Continent and unlock its socio-economic potentials’’.

She had revealed that in 2011, the company  identified  thhe first strategic investment  opportunity , acquiring  a controlling shares  in Transcorp, leading  the Organization  into an era  of year on –year growth  and expansion into the power sector.

She has confirmed that Transcorp Power had acquired 100% ownership and Management of Ughelli Power plc with 972 MW installed capacity, but the actual production is only 160MW, for now. An insider had said that  the Power generation  company had passed the five-year performance target  of 60 MW,  set for it in 2013 by former President Goodluck Jonathan’s government  through the Bureau of Public Enterprices, BPE, by increasing  the available capacity of the Ughelli power plant  from160 MW to 701 MW within four years of taking over contro and management of the plant.

Ughelli power Generation Plant operated by Heirs Holdings

Als, last year, precisely towards the tail end of former President Muhammadu Buhari’s Administration,  Transcorp Power,  was said to have become  the first  major power generation company in Nigeria to be discharged  from  post-privitization monitoring by BPE.

In a related development, Afriland Properties plc, a real estate  investee company  of Heirs Holdings  was said to have also grown  in lips and bounds  to over  N12 billion  which was said to have made it  to be one of the largest  land banks in Nigeria.

It was said to have found Avon Healthcare Limited, Avon HMO, which was said to have celebrated a decade of unwavering commitment to exceptional healthcare delivery services in 2023, impacting over 230,000 Lives through 2,500 hospitals across Nigeria and other parts of the world.

The Value News Investigations shows that he Healthcare Company,   had paid   the North American country of the United States, US, $32 million, equivalent of N24 billion in claims by the various Hospitals used across the world in 10 years.

There are indications that in 2015, the Conglomerate ‘s philanthropic arm , the Tony Elumelu Foundation ,   had Launched its Flagship Entrepreneurship  Programme,  committing over  US $100 million  ‘’to identify, train,  mentor  and fund’’ , 10,00 African Entrepreneurs  over the last 10 years, across the 54 African countries .

At present the Foundation, was said to  have surpassed  its initial goal  by directly funding  20,000 entrepreneurs  and has provided  over 1.5 million  young Africans  with access  to training  through its digital platform  TEF Connect.

Heirs Holdings may have equally shown its financial  worth and crave to invest in other sectors of the Nigerian economy    as it was said to have successfully  acquired  Oil Mining Lease, OML, 17, from Shell Petroleum Development Company, SPDC, Total and ENI,  in a $1.2 billion , described as the largest oil and gas transactions  in the African Continent in 2021.  

Note that OML 17, as currently being operated by Heirs Energy has a peak production level of over 80MMSCFD, of gas at its gas plant at Agbada, Rivers state.  The company , according to informed sources  had  announced an expansion of its gas supply businesses, which may  have informed why it is currently supplying gas to  the newly Commissioned  188 MW  power plant  operated by Geometric Power Limited, located in Aba, Abia state. At present, the Heirs Energy company,also supplies gas to TransAfam Limited, with a capacity of 966MW and First Independent Power Limited, FIPL, with a capacity of 541 MW, including local distribution companies, gas based-industries and other industrial customers.     

 The company was said to have equally branched out to insurance where it was said to have  Launched the first –ever digital insurance companies  rebrand as ‘’Heirs Insurance Group, a formidable  family of three  insurance brands  offering  General Insurance, Life Insurance and  Insurance broking services, to democratize the  access to Insurance   and drive financial inclusion.  

Elumelu, Chairman of Heirs Holdings and other major  Blue chip Companies in the country had said that its commitment  to simplifying  the country’s insurance  experience has led   to the rollout of digital and mobile service channels , as well as Launch  of  innovative  customer –first initiatives such as  the first digital insurance  Experience Centre.

The Heirs Holdings Authorities had said  that 2024, under  the current President Bola Ahmed Tinubu’s Administrations, it  is shaping up to be an amazing year   as it has continued on  its track record of success.

Trnscorp Hilton, Aabuja

Although,  the year may have started on a sluggish note   with a surge in market capitalization  of its Nigerian Exchange,  NGX, as  listed investee  companies  skyrocketed  to astounding  N2.4 trillion , with two of the companies , UBA plc and Transcorp  Group,’s  hotel subsidiary, Transcorp Hotels,  crossing the  one trillion naira mark , joining the league of  SWOTS. The Group was said to have orchestrated the successful listing of Transcorp Power plc , one of its power subsidiaries  on the main board of NGX.

The move may not have only bolstered   the company’s investment portfolio but   had injected an additional N1.8 trillion   on the market Capitalization of NGX.   There are indications that in less than two weeks of its operations, Transcorp Power Market Capitalization grew to over N2.8 trn.

Indeed, with a combined generating capacity, of about 2,000MW,   energy experts, believe that Transafam Power, Transcorp Group’s Power subsidiaries would account for at least 15.5% of the installed capacity in Nigeria in the near future.              

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