Heirs Holdings

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Heirs Holdings (HH) is an African proprietary investment company with interests in financial services, power, oil & gas, real estate & hospitality and healthcare.[1] Its operations are rooted in the economic philosophy of Africapitalism which proposes private sector-led long-term investment in Africa by Africans. It carries out philanthropic work through The Tony Elumelu Foundation, named after its Founder and Chairman of the group. It is the major shareholder in the Transcorp (Transnational Corporation of Nigeria) conglomerate.[2]


Heirs Holdings was established in 2010 by businessman and philanthropist Tony O. Elumelu, CON upon his retirement in 2010 from the United Bank for Africa (UBA) Plc, where he had been its erstwhile Group Managing Director. The group has expanded its scope of investments from Nigeria to other parts of Africa and the rest of the world.

Investee companies[edit]

Africa Prudential Registrars[edit]

A share registration services company, which manages registers for some of the leading corporate and institutional clients in the Nigerian capital markets.[3][4]

Afriland Properties Plc[edit]

A property management, investment and development company, offering end-to-end services along the real estate value chain, from management to joint-venture investments.[5]

Avon HMO[edit]

A dynamic and innovative health maintenance organisations (HMO) duly licensed by the National Health Insurance Scheme to operate as a national HMO.[6]

Avon Medical[edit]

A healthcare facility committed to meeting the managed care needs of patients and corporate clients in Nigeria and Africa.[7]

Heirs Insurance Brokers[edit]

An independent brokerage company offering both insurance brokerage and risk management services—operating across both the short- and long-term insurance markets.

NASD OTC Market[edit]

An alternative trading platform created by the National Association of Securities Dealers to bring more liquidity to Nigeria’s capital markets. It has been licensed by the Securities Exchange Commission (SEC).

Tenoil Energy[edit]

An indigenous operator in the upstream and downstream oil & gas sectors.

Transcorp Nigeria[edit]

A leading diversified conglomerate with business interests are in four strategic sectors: Power, Energy, Hospitality and Agriculture.

United Capital Plc[edit]

A financial and investment services group providing bespoke value-added service to its clients. It runs four businesses: Investment Banking, Asset Management, Trusteeship and Securities.


  • Chairman – Tony O. Elumelu, CON
  • CEO, Avon Medical Services - Dr. Awele Vivien Elumelu [8][9]
  • Director, Business Development - Adim Jibunoh[10]
  • Director, Financial Services – Victor Osadolor
  • Director, Finance & Investments - Sam Nwanze[11][12]
  • Chief of Staff to the Chairman - Udochi Nwaodu
  • Director, Resources - Owen Omogiafo
  • CEO, The Tony Elumelu Foundation – Parminder Vir OBE


  1. ^ "Heirs Holdings Limited: Private Company Information - Businessweek". Bloomberg.com. Retrieved 2015-09-16. 
  2. ^ Holdings, Heirs (2013-08-27). "Heirs Holdings $300m investment under Transcorp boosts US Power Africa initiative Transcorp completes purchase of Nigeria's largest thermal power plant". Thenigerianvoice.com. Retrieved 2015-09-16. 
  3. ^ Salako, Taofik (2015-04-10). "Shareholders approve Africa Prudential Registrars' N700m dividends - The Nation Nigeria". Thenationonlineng.net. Retrieved 2015-09-16. 
  4. ^ 2014. "Africa Prudential Registrars' two-point promise | TheCable". Thecable.ng. Retrieved 2015-09-16. 
  5. ^ "Afriland Properties plc: Private Company Information - Businessweek". Bloomberg.com. Retrieved 2015-09-16. 
  6. ^ BizWatchNigeria (2013-07-10). "Avon HMO promises new standards in Nigeria's health insurance industry". BizWatchNigeria.Ng. Retrieved 2015-09-16. 
  7. ^ "Avon Medical Services Limited: Private Company Information - Businessweek". Bloomberg.com. Retrieved 2015-09-16. 
  8. ^ "Awele Elumelu rocks - The Nation Nigeria". Thenationonlineng.net. 2014-02-09. Retrieved 2015-09-16. 
  9. ^ Awele V. Elumelu. "Awele V. Elumelu: Executive Profile & Biography - Businessweek". Bloomberg.com. Retrieved 2015-09-16. 
  10. ^ Adim Jibunoh. "Adim Jibunoh: Executive Profile & Biography - Businessweek". Bloomberg.com. Retrieved 2015-09-16. 
  11. ^ Samuel Nwanze (2012-04-17). "Samuel Nwanze: Executive Profile & Biography - Businessweek". Bloomberg.com. Retrieved 2015-09-16. 
  12. ^ "Sam".