With company’s values touted as Hardwork, Emotional intelligence, Integrity, Resilience and synergy, Heirs Holdings founded in 2010 by a visionary entrepreneur and philanthropist, Mr. Tony O. Elumelu, is an African investment holding company, with investments in financial services, power generation, oil and gas, agribusiness, real estate and hospitality.
Talk of Mr. Elumelu, he has been responsible for creating businesses across the continent, in sectors critical to Africa’s economic development.
He is also the chairman of UBA Group Plc and Transcorp Plc, which is Nigeria’s largest listed conglomerate.



Born 22 March, 1963 in Jos, Nigeria, Mr. Elumelu in his early career turned the financially distressed Standard Trust Bank (STB) into a top-five financial services player in Nigeria. In 2005, he led the largest merger in the banking sector in sub-Saharan Africa, between STB and United Bank for Africa (UBA). Today, UBA operates in 19 African countries, as well as New York, London and Paris.

His foundation, The Tony Elumelu Foundation (TEF) through its Entrepreneurship Programme recently announced the selection of the first 1000 African entrepreneurs. Entrepreneurship Programme is a $100 million initiative to discover and support 10,000 African entrepreneurs over the next decade, with a target of creating one million new jobs and $10 billion in additional revenues in the process.

Mr. Elumelu is the author and leading proponent of “Africapitalism,” an economic philosophy which advocates for the private sector’s commitment to Africa’s development through long-term investment in strategic sectors of the economy, that drive economic prosperity and social wealth.

In 2003, the federal government of Nigeria conferred the honour of Member of the Federal Republic on Mr. Elumelu. In 2012 he was awarded a Commander of the Order of the Niger for his service in promoting private enterprise. In 2013, Mr. Elumelu received the Leadership Award in Business and Philanthropy from the Africa-America Institute Awards. He was also named African Business Icon at the 2013 African Business Awards.

Mr. Elumelu presently serves as a member of the Global Advisory Board of the United Nations Sustainable Energy for All Initiative (SE4ALL) and USAID’s Private Capital Group for Africa Partners Forum.

In this piece, The ICON Business takes a look at those who run the company which investments currently tops ten in Africa. Read on.


DR. AWELE ELUMELU – CEO, Avon Medical Services

Dr. Awele Vivien Elumelu is the Chief Executive Officer of Avon Medical Services Limited and oversees the healthcare investments of the group. She holds a Bachelor of Medicine and Bachelor of Surgery degree from the University of Benin. Her experience as a medical doctor includes medicine, surgery, paediatrics, obstetrics and gynaecology and emergency medicine. In Nigeria, Dr Elumelu has worked with the Lagos University Teaching Hospital and, in the UK, with Grantham and District Hospital, Grantham.


EMMANUEL N. NNOROM – CEO, Transnational Corporation of Nigeria

Emmanuel N. Nnorom is the President/CEO of Transnational Corporation of Nigeria Plc and is responsible for driving the group’s interests in oil and gas, agribusiness and hospitality. Prior to joining Transcorp, Emmanuel served as President/COO of Heirs Holdings and before that, CEO of UBA Africa, overseeing United Bank of Africa’s operations outside Nigeria and executing corporate strategy in 18 African countries. Other senior roles within UBA included Group COO UBA, followed by his appointment as UBA’s Group CFO, with responsibility for Finance and Risk. Emmanuel is qualified as a chartered accountant, and brings over three decades of professional experience in the corporate and financial sectors, working with publicly listed companies. He is an alumnus of Oxford University’s Templeton College, and a prize winner and fellow of the Institute of Chartered Accountants of Nigeria.

MORE: http://www.theiconng.com/spotlight-meet-those-who-shape-africas-most-formidable-company-heirs-holdings/

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