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Tag: Transcorp Group

  • Transcorp Group reports 59% revenue surge, declares N4.06bn dividend

    Transcorp Group reports 59% revenue surge, declares N4.06bn dividend

    Transnational Corporation Plc (Transcorp Group), one of Nigeria’s leading conglomerates, has announced strong unaudited results for the first half (H1) of 2025, reporting a 59% year-on-year revenue growth and declaring an interim dividend of N4.064 billion for shareholders.

    According to the company’s financial statement for the period ended June 30, 2025, revenue rose sharply to N279.7 billion from N175.4 billion in H1 2024.

    Profit before tax also increased by 21%, reaching N85.7 billion compared to N70.9 billion in the same period last year. The Group recorded a gross profit margin of 47%, underscoring its resilience amid ongoing economic challenges.

    In recognition of its strong performance, the company announced an interim dividend of 40 kobo per share, subject to applicable withholding tax.

    Chairman of Transcorp Group, Tony Elumelu, CFR, attributed the growth to the Group’s impact-driven and value-creating investments across key sectors of the Nigerian economy.

    “In power, Transcorp Power and Transafam Power increasingly innovate to improve lives. In hospitality, we continue to delight our clients and redefine the sector, with the launch of the Transcorp Centre in Abuja, a state-of-the-art event venue that recently hosted the AFREXIM Annual Meetings 2025,” Elumelu said.

    President and Group CEO, Owen Omogiafo, OON, said the results reflect the company’s operational excellence and adaptability in a dynamic economic environment. “Our performance in Q2 2025 reinforces the strength of our strategy and our ability to consistently deliver value to stakeholders,” she noted.

    The new 5,000-seat Transcorp Centre is expected to position Nigeria as a premier destination for large-scale regional and global events.

    Transcorp Group maintains strategic investments in power, hospitality, and energy. Its subsidiaries, Transcorp Power Plc and Transafam Power, currently generate over 20% of Nigeria’s installed power capacity.

    Its hospitality arm, Transcorp Hotels Plc, operates the flagship Transcorp Hilton Abuja and the Aura by Transcorp Hotels digital platform.

  • Transcorp Hotels reports strong H1 2025 performance with 60% revenue growth, and 71% growth profit increase YOY

    Transcorp Hotels reports strong H1 2025 performance with 60% revenue growth, and 71% growth profit increase YOY

    Transcorp Hotels Plc (“Transcorp Hotels” or the “Company”) (NGX: TRANSCOHOT), the hospitality subsidiary of Transnational Corporation Plc (“Transcorp Group”), has announced its H1 unaudited results for the period ended June 30, 2025.

    The results show an impressive 60% growth in revenue against the same period in 2024. Gross Profit increased by 71%  year on year.

    The period saw the launch of the Company’s world-class, 5,000-seat capacity Transcorp Centre, demonstrating Transcorp Hotels positioning as the event and hospitality leader in Nigeria. The Company’s successful launch of Nigeria’s largest corporate venue is further evidence of its ability to unlock new revenue streams and drive sustainable growth.

    Key Highlights

    Strong growth in Revenue

    Transcorp Hotels recorded an impressive Y-o-Y revenue growth of 60% from ₦29.72 billion in H1 2024, to ₦47.57 billion in H1 2025.

    Continuing Profitability Momentum

    Transcorp Hotels sustained its profit momentum in H1 2025, growing gross profit by 71% to ₦36.21 billion, from ₦21.19 billion of the preceding year.

    This notable growth translated to an improvement in H1 2025 gross profit margin, increasing to 76%, despite the challenging macroeconomic environment marked by rising inflation and increased operating costs.

    In line with its promise to continually deliver value, the Company is rewarding shareholders with an interim dividend of N1,024,252,841 at N0.10 for every 50 kobo ordinary share, subject to appropriate withholding tax.

    Chairman Transcorp Hotels Plc, Emmanuel Nnorom, comments: “Transcorp Hotels’ outstanding performance in the first half of 2025 furhter validates our transformative strategies, with a laser focus on innovation and operational efficiency. It affirms our steadfast dedication to delivering investor returns and signals our profound confidence in Transcorp Hotels’ future growth. Moving forward, we are confident in our ability to consistently raise the bar for the industry, fulfilling our mission to redefine hospitality in Africa.”

    MD/CEO Transcorp Hotels Plc, Uzo Oshogwe, comments: “Our exceptional H1 2025 performance reflects our relentless execution of a growth-focused agenda. These results reflect the resilience of our business model and the dedication of our team. Building on the foundation of our iconic assets, the Transcorp Hilton Abuja and the new 5,000-seat capacity Transcorp Centre, we are not just leading Nigeria’s hospitality sector, but redefining excellence across Africa. Our sustained momentum is a reflection of our commitment to innovation, operational efficiency, and value creation for all stakeholders.”

    Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc, one of Africa’s leading listed companies with strategic investments in the power, hospitality, and energy sectors. Transcorp Hotels is redefining hospitality standards in Africa through its businesses, including the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and digital platform, Aura by Transcorp Hotels.

    www.transcorphotels.com

  • Transcorp rehabilitates gas turbine, adds 138MW to existing capacity

    Transcorp rehabilitates gas turbine, adds 138MW to existing capacity

    TransAfam Power Ltd has announced completing the rehabilitation of its Afam 5 GT unit 20 Gas Turbine power-generating unit located at Okoloma-Afam, Ndoki in Oyigbo Local Government Area of Rivers State.

    TheNewsGuru.com (TNG) reports Engr. Vincent Ozoude, MD/CEO of Transafam Power Limited disclosed this while expressing delight about the newly rehabilitated unit, which is able to power up to 100,000 homes in a year.

    The rehabilitated unit, according to Engr. Ozoude has been successfully commissioned and synchronized to the national grid, bringing an additional 138MW to the existing capacity of TransAfam Power Ltd, a subsidiary of Transcorp Group.

    “Since the administrative handover of the Afam Power Plant in March 2021, we have been working diligently to realize the full potential of the plant.

    “We are pleased to have successfully completed the rehabilitation of GT20, having been out of service for over 15 years prior to our takeover.

    “We are glad to have achieved this feat, using a combination of our in-house resources and other local technical support, with about 20% of foreign expert support in the rehabilitation project, showing our commitment to local content development,” Ozoude said.

    He added: “It is impressive how far we have come from 48MW average generation, when we took over, to raising production to 120 MW generation within the first two months,” Ozoude added, as he expressed appreciation to the company’s host community, Okoloma-Ndoki, and other stakeholders.

    Meanwhile, Dr. Owen Omogiafo, President and Group CEO of Transcorp, who was accompanied by the members of the Technical Committee of the Board of Directors, expressed delight at the commissioning of the rehabilitated Afam 5 GT 20 power generating unit, stressing its significance to Transcorp Group and their commitment to transforming the power sector in Nigeria.

    “Our purpose at Transcorp Group is to Improve Lives and Transform Africa, one investment at time. We are pleased at the progress we are making to expand access to electricity in Nigeria through our investments in the power sector.

    “You cannot achieve sustainable economic transformation without reliable power supply. It is that understanding that has led us at Transcorp, under the leadership of our Group Chairman, Mr. Tony O. Elumelu CFR to invest in the power sector.

    “We are happy with the progress we are making in our power plants and strive to continue to optimize our available generation capacity, with improved gas supply, which has become increasingly challenging. We will also continue to build our local capacity by investing in human capital development and positive engagement with our host communities and stakeholders,” Dr. Omogiafo said.

    Recall that Transcorp Group had in 2013, through its power subsidiary, Transcorp Power Limited (TPL), acquired the 972MW gas-fired Ughelli Power Plant, which has since been phenomenally transformed.

    With the acquisition of Afam Power Plc, Transcorp has further cemented its position as a key player in the power sector.

    TNG reports Transnational Corporation plc (Transcorp Group) is Nigeria’s largest leading diversified conglomerate with strategic investments and core interests in the power, hospitality, and energy sectors.

    A publicly quoted conglomerate with a diversified shareholders base of about 300,000 investors, its notable assets include Transcorp Hotels plc (Transcorp Hilton, Abuja, Transcorp Hotels, Calabar, and Aura by Transcorp Hotels); Transcorp Power Limited, Transafam Power Limited and Transcorp Energy Limited (operator of OPL 281).

  • Tony Elumelu championing women empowerment and gender equality in Nigeria

    Tony Elumelu championing women empowerment and gender equality in Nigeria

    …appoints 4 women as top executives of Transcorp Plc

    Business mogul, Tony Elumelu has again broken all barriers as he ensures four women out of a board of five emerge top executives of Transnational Corporation of Nigeria Plc (Transcorp), leading listed industrial holding company.

    TheNewsGuru.com (TNG) reports Transcorp Group made public the significant new executive and non-executive board appointments in a statement published on its website on Wednesday.

    Elumelu, a father of five beautiful girls, is recognised and adjudged as one of Nigeria’s astute business men. On Tuesday, Transcorp Plc made 5 major appointments, with new CEOs for the group and Transcorp Hotels, and among others.

    But out of 5 appointees, 4 are women and most importantly, 2 women are CEOs of the Group and Hotel.

    A cursory look at the Group, women occupy most executive positions. 5 women are on board of United Bank for Africa (UBA). While women are CEOs of Avon Medical Practice and Afriland Properties Plc.

    This development underscores the importance Elumelu attaches to women and gender equality, and being a father of 5 girls, he prioritises and positions women for empowerment.

    Owen Omogiafo has been appointed as President/GCEO of Transnational Corporation of Nigeria Plc, with effect from March 25, 2020. She succeeds Valentine Ozigbo, who is retiring to pursue a career in public service, having served Transcorp for close to a decade.

    Owen is currently the MD/CEO of Transcorp Hotels Plc and has over two decades of corporate experience in organisational development, human capital management, banking, change management and hospitality.

    She holds a B.Sc. in Sociology & Anthropology from the University of Benin, an M.Sc. in Human Resource Management from the London School of Economics and Political Science and is an alumnus of the Lagos Business School and IESE Business School, Spain.

    She is also a member of the Chartered Institute of Personnel and Development, UK and a Certified Change Manager with the Prosci Institute, USA.

    She has received multiple awards and been named as one of Africa’s top 100 Female CEOs.

    Dupe Olusola has been appointed as the MD/CEO of Transcorp Hotels Plc, effective from March 25, 2020. She is currently the Group Head, Marketing at United Bank for Africa Plc.

    She has over 21 years of corporate experience spanning, including MD/CEO of Teragro Juice Concentrate Plant. She holds a BA in Economics from the University of Leicester and a Masters in Development Economics from the University of Kent.

    She is a certified Project Manager, with qualifications in PMP and Prince 2. She has received numerous awards and was named by the Ventures Africa’s as one of the 10 Most Influential Nigerian CEOs of 2015.

    The Board of Transcorp Hotels Plc has also approved the appointment of Helen Iwuchukwu as an Executive Director/Chief Operating Officer of the company.

    She is currently the Group Company Secretary of Transcorp Plc. She holds an LL. B. (Hons) degree in Law and was enrolled as a Solicitor and Advocate of the Supreme Court of Nigeria in 1993 (BL Hons) and holds a Master of Laws degree (LL. M.) from Middlesex University Business School, London.

    Helen is a member of the Nigerian Bar Association, with over 25 years in legal advisory, corporate law, corporate governance, administration, human capital management and government relationship management.

    Christopher Ezeafulukwe has been appointed as the MD/CEO of Transcorp Power Ltd and was the Executive Director, Business Development & Legal, Transcorp Plc as well as a Non-Executive Director of Transcorp Power Limited.

    He has over 21 years’ experience in business development, legal advisory and company secretarial roles. An alumnus of Lagos Business School and IESE Business School, Spain.

    Chris also holds an LL.B from the University of Lagos, a B.L from the Nigerian Law School, an LL.M from the University of Lagos and further LL.M in Energy, Environmental & Natural Resources Law from the University of Houston, Texas.

    He is a member of the Nigerian Bar Association, the Institute of Chartered Secretaries & Administrators of Nigeria, the Association of International Petroleum Negotiators and was a member of the Executive Council of Association of Power Generation Companies of Nigeria.

    The Board of Transcorp Power Ltd has also approved the appointment of Okaima Ohizua as Executive Director/Chief Operating Officer of Transcorp Power Ltd.

    She is currently Executive Director, Customer Services at Transcorp Hotels Plc. She has over 25 years working experience, and has been key to the continued service transformation at Transcorp Hilton Hotel, since joining the Board and Management in 2013.

    A graduate of law from the University of Benin and the Nigerian Law School, Okaima also holds an Advanced Management Program certificate from the Pan-African University – Lagos Business School.

    The Board of Transcorp Plc also announced the appointment of Valentine Ozigbo as a Non-Executive Director, following his resignation as President/GCEO of Transcorp Plc.

    Speaking on these appointments, the Chairman, Transcorp Group and Heirs Holdings, Elumelu expressed his confidence that the newly appointed chief executives and non-executive directors will further strengthen Transcorp’s mission of improving lives across Nigeria.

    “These appointments demonstrate our commitment to nurturing talent and rewarding success. We have a deep pool of highly qualified and dedicated employees, who can be challenged with more responsibility in attaining our corporate vision.

    “We remain committed to diversity and inclusion; and are delighted by the depth and quality of experience that these leadership team brings to our group. These appointments further indicate our internal succession capacity and strong corporate governance practices,” he said.

    Mr. Elumelu thanked Valentine Ozigbo for his achievements as CEO. He highlighted that the Board of Transcorp will continue to implement its defined strategy, which has led its investee companies being leaders in their chosen sectors and has seen significant transformation, since Mr Elumelu’s holding company, Heirs Holdings invested in 2011.

  • Transcorp Group Announces Significant New Executive and Non-Executive Board Appointments

    Transcorp Group Announces Significant New Executive and Non-Executive Board Appointments

    Transnational Corporation of Nigeria Plc (Transcorp) has announced significant appointments to its Board and Executive Management.

    Transcorp is Nigeria’s leading listed industrial holding company, whose interests include Transcorp Power, Nigeria’s largest power generator, Transcorp Hotels, owner of the iconic Transcorp Hilton, and significant upstream oil and gas assets.

    Owen Omogiafo has been appointed as President/GCEO of Transnational Corporation of Nigeria Plc, with effect from March 25, 2020. She succeeds Valentine Ozigbo, who is retiring to pursue a career in public service, having served Transcorp for close to a decade. Owen is currently the MD/CEO of Transcorp Hotels Plc and has over two decades of corporate experience in organisational development, human capital management, banking, change management and hospitality. She holds a B.Sc. in Sociology & Anthropology from the University of Benin, an M.Sc. in Human Resource Management from the London School of Economics and Political Science and is an alumnus of the Lagos Business School and IESE Business School, Spain. She is also a member of the Chartered Institute of Personnel and Development, UK and a Certified Change Manager with the Prosci Institute, USA. She has received multiple awards and been named as one of Africa’s top 100 Female CEOs.

    Dupe Olusola has been appointed as the MD/CEO of Transcorp Hotels Plc, effective from March 25, 2020. She is currently the Group Head, Marketing at United Bank for Africa Plc. She has over 21 years of corporate experience including MD/CEO of Teragro Juice Concentrate Plant. She holds a BA in Economics from the University of Leicester and a Masters in Development Economics from the University of Kent. She is a certified Project Manager, with qualifications in PMP and Prince 2. She has received numerous awards and was named by the Ventures Africa’s as one of the 10 Most Influential Nigerian CEOs of 2015.

    The Board of Transcorp Hotels Plc has also approved the appointment of Helen Iwuchukwu as an Executive Director/Chief Operating Officer of the company. She is currently the Group Company Secretary of Transcorp Plc. She holds an LL. B. (Hons) degree in Law and was enrolled as a Solicitor and Advocate of the Supreme Court of Nigeria in 1993 (BL Hons) and holds a Master of Laws degree (LL. M.) from Middlesex University Business School, London. Helen is a member of the Nigerian Bar Association, with over 25 years in legal advisory, corporate law, corporate governance, administration, human capital management and government relationship management.

    Christopher Ezeafulukwe has been appointed as the MD/CEO of Transcorp Power Plant, Ughelli and was the Executive Director, Business Development & Legal, Transcorp Plc. He has over 21 years’ experience in business development, legal advisory and company secretarial roles. He holds an LL.B from the University of Lagos, a B.L from the Nigerian Law School, an LL.M from the University of Lagos and further LL.M in Energy, Environmental & Natural Resources Law from the University of Houston, Texas. He is a member of the Nigerian Bar Association, the Institute of Chartered Secretaries & Administrators of Nigeria, the Association of International Petroleum Negotiators and was a member of the Executive Council of Association of Power Generation Companies of Nigeria.

    The Board of Transcorp Power Ltd has also approved the appointment of Okaima Ohizua as Executive Director/Chief Operating Officer of Transcorp Power Ltd. She is currently Executive Director, Customer Services at Transcorp Hotels Plc. She has over 25 years working experience and has been key to the continued service transformation at Transcorp Hilton Hotel, since joining the Board and Management in 2013. A graduate of law from the University of Benin and the Nigerian Law School, Okaima also holds an Advanced Management Program certificate from the Pan-African University – Lagos Business School.

    The Board of Transcorp Plc also announced the appointment of Valentine Ozigbo as a Non-Executive Director, following his resignation as MD/CEO of Transcorp Plc.

    Speaking on these appointments, the Chairman, Transcorp Group and Heirs Holdings, Tony O. Elumelu, CON, expressed his confidence that the newly appointed chief executives and non-executive directors will further, strengthen Transcorp’s mission of improving lives across Nigeria.

    “These appointments demonstrate our commitment to nurturing talent and rewarding success. We have a deep pool of highly qualified and dedicated employees, who can be challenged with more responsibility in attaining our corporate vision. We remain committed to diversity and inclusion; are delighted by the depth and quality of experience that this leadership team brings to our group. These appointments further indicate our internal succession capacity and strong corporate governance practices”.

    Mr. Elumelu thanked Valentine Ozigbo for his achievements as CEO. He highlighted that the Board of Transcorp will continue to implement its defined strategy, which has led its investee companies being leaders in their chosen sectors and has seen significant transformation, since Mr Elumelu’s holding company, Heirs Holdings invested in 2011.

  • Transcorp Group Announces New Executive and Non-Executive Appointments

    Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading diversified listed conglomerate has announced new appointments to its Board and executive management.
    Valentine Ozigbo has been appointed as the President/CEO of Transnational Corporation of Nigeria Plc with effect from January 1, 2019. He will succeed Mr. Adim Jibunoh, who is retiring on December 31, 2018. Mr. Ozigbo, currently the MD/CEO of Transcorp Hotels Plc, owner of the prestigious Transcorp Hilton Abuja, will bring over 20 years’ experience in banking, business development, hospitality and corporate transformation. A multiple award winner, Mr. Ozigbo holds an M.Sc. Finance from Lancaster University, UK; an MBA in Banking & Finance and a B.Sc. in Accounting from the University of Nigeria. He is a Fellow of the Institute of Chartered Accountants of Nigeria.
    Owen Omogiafo has been appointed as the MD/CEO of Transcorp Hotels Plc effective from January 1, 2019. She is currently the Executive Director, Corporate Services at Transnational Corporation of Nigeria Plc. She has over 18 years’ corporate experience in organisational development strategy, human capital management, banking, change and business management. She holds a B.Sc. in Sociology & Anthropology from the University of Benin and an M.Sc. in Human Resource Management from the London School of Economics and Political Science. Mrs. Omogiafo is a member of the Chartered Institute of Personnel and Development (CIPD), UK and a Certified Change Manager with the Prosci Institute, USA.
    The Board of Transcorp also approved the appointments of Ms. Obi Ibekwe and Mrs. Toyin F. Sanni as Non-Executive Directors, following the retirement of Mr. Kayode Fasola and Alhaji Abdulqadir Jeli Bello. These appointments are effective October 30, 2018.
    Oluwatoyin F. Sanni was Group Chief Executive Officer at United Capital Plc , a position she retired from in June 2018. She has over 25 years of experience in investor services, law and finance. Mrs. Sanni holds a Bachelor of Law degree from the University of Ife, an LLM (Hons) from the University of Lagos as well as a professional qualification of the I.C.S.A. UK and the Chartered Institute of Stockbrokers (C.I.S) Nigeria.
    Obi Ibekwe holds a Bachelor of Arts degree in International Relations from Tufts University, Medford, Massachusetts, U.S.A., a Bachelor of Law degree from the University of Lagos and an MBA degree from the Ross School of Business, University of Michigan, U.S.A. She has over two decades experience in banking, holding senior executive and senior management positions spanning credit and marketing, credit risk management, human resources and customer service.
    Transcorp Hotels Plc has also announced the appointment of Emmanuel Nnorom as the Chairman of its Board, following the retirement of Alhaji Abdulqadir Bello.
    Mr. Nnorom is the Group Chief Executive Officer of Heirs Holdings, after retiring as the President/CEO of Transcorp. He 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.
    Speaking on these appointments, the Chairman, Transcorp Mr. Tony O. Elumelu, CON, expressed his confidence that the newly appointed chief executives and non-executive directors will further strengthen Transcorp’s core purpose of improving lives across Nigeria.
    “We are pleased to have the diversity, depth and quality of experience that these directors bring to our group. The executive appointments are a testament to our internal succession capacity and the appointees will build on the achievement of their predecessors. By these appointments, we have further deepened our corporate governance capabilities, and firmed up our leadership position in the sectors we invest in”
    Mr. Elumelu went further to thank the retiring Directors for their meritorious service to the Group over the years. He highlighted that the Board of Transcorp will continue to implement its defined strategy, which has led its investee companies being leaders in their industries and to take the Group to the next level.