Tony Onyemaechi Elumelu, CFR, is a prominent Nigerian economist, banker, investor, and philanthropist. Elumelu is popularly known as the Group Chairman of United Bank of Africa and the founder of Heir Holdings.
His unique idea of Africapitalism has driven him to help Africa grow stronger by building smart businesses and using companies to create jobs, build wealth, and improve life for everyone. Hence, he started Heirs Holdings in 2010 after leading UBA as CEO. This family-owned, proprietary investment company has since become the core of all his businesses.
Heirs Holdings buys and grows businesses in key areas like banking, energy, hotels, and health care. Today, these companies operate in about 24 countries and are worth around $15 billion. Tony Elumelu is also the Group Chairman at Heir Holdings, which employs over 40,000 people across Africa and beyond. 
Let’s take a look at all of Tony Elumelu’s business investments
United Bank for Africa (UBA)
SEE ALSO: Meet Tony Elumelu: How He Got Rich, Met His Wife, and All His Children
During his period at UBA, one of Africa’s biggest banks, Tony Elumelu played a key role in turning the bank into a pan-African powerhouse.
He led the merger of Standard Trust Bank with UBA in 2005 and served as Group Managing Director/CEO until 2010, after which he became Chairman to date.
UBA serves millions of customers in over 20 African countries and places like the UK, France, the UAE, and the United States.
Power and Energy Businesses
Elumelu has companies in the power and energy sector too. Through Transcorp (Nigeria’s largest listed conglomerate, which he chairs), they run Transcorp Power and Transafam Power. Transcorp Power is one of West Africa’s top electricity producers. After upgrading old plants, they now make much more power for homes and factories through power plants like the Ughelli Power Plant.
Heirs Energies is Africa’s largest indigenous energy company. It mainly produces oil and gas, and Elumelu wants to help Africa fairly switch to cleaner energy. Transcorp Power has an installed capacity of 2,000 megawatts, supplying 13-15% of Nigeria’s national grid and powering millions of homes.
Hotels and Properties
Transcorp Group, which Tony Elumelu chairs, owns the famous Transcorp Hilton Abuja, a top hotel in Nigeria with beautiful upgrades and big event spaces. Apart from hotels, Heirs Holdings also invests in Afriland Properties, which builds offices, homes, and shopping areas. Afriland also focuses on property management, investment, and development.
Insurance and Finance
Heirs Holdings also operates insurance and finance companies like Africa Prudential Plc, Heirs Insurance, and United Capital. Heirs Insurance uses a digital-first approach to get people insured. It includes Heirs General Insurance, Heirs Life Assurance, and Heirs Insurance Brokers.
United Capital, on the other hand, is a financial and investment services group that helps people protect their money and invest wisely.
Health Care
In contribution to a healthier Africa, Avon Medical Practice runs hospitals and clinics. With Avon HMO, over 250,000 lives have been impacted, with over $32 million spent over 12 years. Their health plans have helped hundreds of thousands of families get good care. According to Heirs Holdings, the Avon Dialysis Centre has delivered over 15,000 life-saving dialysis sessions.
Technology
Through firms like Redtech and Heirs Technologies, Heirs Holdings has invested in technical expertise and next-generation solutions to shape a future that empowers businesses and individuals across Africa. They handle billions in digital payments and tech services.
With his recent appointment as Chairman of Seplat Energy, Tony Elumelu shows how one person with big dreams can build an empire that lifts up a whole continent. He has continually inspired us to think big, work hard, and embrace Africapitalism and Pan-Africanism.
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