Femi Otedola’s New Stake In Transcorp Group A Validation Of Our Vision & Leadership – Tony Elumelu
Africa business leader and respected philanthropist, Tony Elumelu, has officially reacted to report of billionaire Femi Otedola’s acquisition of stake in Transcorp Group.
Mr Elumelu, who is the chairman of the leading Nigerian conglomerate, spoke on the development after the Annual General Meeting (AGM) of the group.
Interestingly, Mr. Otedola latest business move has him transformed the owner of a 5.5 percent stake in the entity Mr. Elumelu, a serial investor, grew from ground zero to profitability in less than five years.
In an interview with Arise Television, Elumelu who also chairs, United Bank for Africa (UBA) and Heirs Holdings tagged his fellow billionaire’s move as a welcome development.
He maintained coming of Mr Otedola on the board of Transcorp Group is a validation of investors’ believe in the leadership and vision of the company.
His words…
Femi Otedola is my very good friend, there are only two people I follow on Instagram, my wife and Femi Otedola. That tells you the level of friendship that we have. He’s a man I admire and respect. We actually call ourselves brothers. so, I welcome Femi’s… I call him FO or Otedola… I welcome his investment in Transcorp, that is what we want. come on, people get sentimental and emotional at times for no reason.
What is wrong…? There can be a cross holdings. You know abroad, even in Nigeria, we go on international road shows. What do we do? We go talk to investors, to say please come and invest in our companies. I’m happy to see an indigenous active investor community. I’m happy that Femi is investing locally and he should be commended for that.
I also welcome his investment in Transcorp because the more people show interest in the activity, in the performance of the company, the more people invest in the company the better for all shareholders. You know, you want to make your stock investor’s toast.
And I’m happy that Transcorp is becoming an investor’s toast. If you remember about ten years ago before we took over Transcorp people were not interested… When I wanted to buy Transcorp people who own shares of Transcorp did even find their certificate because they have lost confidence in the company.
Today under our leadership Transcorp has consistently, five years over now, paid dividends every year. So when friends and investing public come to invest in a company like this, it’s validation, it tells you that they believe in your story, they believe in your vision, they believe in your management, they believe in your leadership, they believe in your competence. That is what has been demonstrated. And l like my friend to come on board. I like the fact that he’s on board. And
I look forward to working with him to take Transcorp to greater heights.
