• Friday, June 21, 2024
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BusinessDay

Heirs Holdings unveils TV commercial to showcase diverse portfolio

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Heirs Holdings, a Lagos-based investment firm, founded by Tony Elumelu, capped off the first quarter with the launch of its inaugural television commercial on CNN International.

This move comes alongside a strong performance for the company’s portfolio across various sectors.

The unveiling of this commercial by Heir Holdings Group marks a pivotal moment for the company as it embarked on a new chapter of global visibility and engagement while highlighting its commitment to driving positive change and sustainable development across Africa and beyond.

Heirs Holdings boasts a diverse investment portfolio across power, energy, financial services, hospitality, real estate, healthcare, and technology. The company highlighted its 13-year track record of driving value creation and social and economic progress in Africa.

Heirs Holdings continued its positive trajectory in 2024. The company joined the ranks of companies with a market capitalisation exceeding N1 trillion (SWOOTs) due to a rise in the Nigerian Exchange (NGX) value of its investee companies, United Bank for Africa and Transcorp Group’s hotel subsidiary, Transcorp Hotels (combined market capital: N2.4 trillion).

Transcorp Group, a Heirs Holdings subsidiary, successfully listed its power subsidiary, Transcorp Power, on the NGX main board. This move injected an additional N1.8 trillion into the market capitalisation of the NGX, further strengthening Heirs Holdings’ portfolio.

Heirs Holdings reports that Transcorp Power’s market capitalisation surpassed N2.8 trillion within two weeks. Combined, Transcorp Power and its sister company, Transafam Power, generate approximately 2,000 MW, accounting for 15.5 percent of Nigeria’s total installed power capacity.

Heirs Holdings also said that its subsidiary, Heirs Energies, further expanded its gas supply operations by providing gas to the newly commissioned 188 MW power plant operated by Geometric Power Limited in Aba, Abia State.

Heirs Energies, according to the company said it plays a key role in powering Nigeria’s industry and economy, supplying gas to companies like TransAfam Power Limited (966MW capacity), First Independent Power Limited (541MW capacity), local distribution companies, gas-based industries, and other industrial customers.