“A Proud Moment” – Tony Elumelu On UBA’s 75th Anniversary And Transcorp Power’s Transformation
Leading African investor, Tony Elumelu has reacted to the 75th anniversary celebration of United Bank for Africa (UBA) and the first Annual General Meeting of Transcorp Power since its listing on the Nigerian Exchange.
Mr Elumelu, a notable philanthropist, owns substantial stakes in both enterprises.
An international press conference – part of the activities penciled down for 75 years of UBA’s existence – took place yesterday, May 20, 2024.
Interestingly, Transcorp Power also had its Annual General Meeting, the first since listing on the Nigerian Exchange, the same day.
Reacting to the heartening developments in a post across his social media handles, the chairman of Heirs Holdings – a Nigerian conglomerate that boasts of huge investment in Hospitality, Banking, Power. Technology, Medical Services, Properties and Insurance – said: “Yesterday marked a very proud moment in our journey of growth, value creation, and transformation”.
Mr Elumelu’s post today, May 21, 2024 with the header “Building to Last: Celebrating Milestones and Transformation” reads…
Yesterday marked a very proud moment in our journey of growth, value creation, and transformation.
Celebrating UBA Group’s 75th anniversary and Transcorp Power’s Annual General Meeting, the first since listing on the Nigerian Exchange.
These are two significant milestones in our journey of building lasting legacies and upholding exceptional corporate governance.
Creating African institutions, driven by African excellence.
UBA at 75: A Legacy of Trust, Excellence and Global Impact
From modest beginnings on Lagos Island, UBA is now a global financial powerhouse, present in 24 countries and four continents. For 75 years, UBA has been at the forefront of delivering exceptional service and driving global impact. Our dedication to building people, businesses, communities and delivering innovative products and services to our customers globally is unwavering, establishing us as a leading financial institution across Africa and beyond. We are Africa’s Global Bank.
Today, UBA proudly serves over 45 million customers through our dynamic channels, including over 350,000 POS terminals, 2,000 ATM terminals, 1,000 business offices, and 20 million cardholders. With a workforce of over 25,000 and the largest graduate programmes in Africa, we uphold the pillars of stability and excellence that define our legacy.
Notable firsts include:
- First in Nigeria banking industry to be Listed on the NGX.
- First and only African bank to acquire and operate a deposit taking Federal Licence in the USA.
- First Nigerian bank to operate in other African countries.
- The first to install ATMs in Nigeria.
- First female Board Chair in Nigeria.
- First Mobile Banking proposition in Nigeria.
Transcorp Power: Illuminating Africa’s Future
Transforming the power sector exemplifies Africapitalism in action, highlighting our role in driving Africa’s growth. Transcorp Power, a cornerstone of Nigeria’s economy, provides essential energy to homes, schools, hospitals, and industries. At the Annual General Meeting today, we released our financial statement, recording gross earnings of N142.1 billion – an outstanding 57.3% increase compared to the previous year.
Transcorp Power has become the fourth highest capitalised stock on the Nigerian Stock Exchange, a testament to our shareholders’ belief and confidence in our value.
LEADING IN GOVERNANCE
Our success in finance and power is rooted in our commitment to strong corporate governance. By prioritising transparency, accountability, and ethical practices, we ensure sustainable growth and deliver exceptional value to our stakeholders.
As we celebrate these milestones, our vision remains clear: to improve and transform lives across Africa. We know the future holds endless possibilities, and we are ready to seize them.
