The Group CEO of Transnational Corporation (Transcorp) Plc, Dr. Owen Omogiafo, has unveiled a clear vision for the conglomerate’s path forward, emphasizing a continued focus on improving lives and transforming Africa. Speaking on AriseTV, Dr. Omogiafo revealed that Transcorp, listed on the Nigerian Exchange (NGX), boasts over 300,000 shareholders.
Thank you for reading this post, don't forget to subscribe!“We want to continue to focus on our purpose of improving lives and transforming Africa. Can you improve lives without dealing with Power? You can’t. Can you put Nigeria on the map without having a strong hotel facility that people can come in and stay in?” Dr. Omogiafo remarked.
Highlighting the company’s resilience, she pointed out that despite ongoing challenges, such as gas and distribution issues, Transcorp remained dedicated to enhancing operational efficiency in 2024. The company achieved 107% revenue growth, totaling N407.9 billion ($271 million), while profit surged by 189.7%, reaching N94 billion ($62.6 million).
Dr. Omogiafo attributes Transcorp’s success to long-term vision, resilience, and a strategic focus on value for stakeholders, adding that the company has been committed to dividends in recent years, with N1 per share announced for 2024.
Discussing the Transcorp Group’s power business, Dr. Omogiafo outlined the company’s growing role in power generation through its subsidiaries Transcorp Power and Trans Afam. With an installed capacity of 2,000MW and 1,000MW available capacity, the company remains focused on overcoming liquidity challenges in the sector.
Dr. Omogiafo emphasized Transcorp Energy as central to future growth, noting that renewable energy sources like solar, wind, and water would contribute to energy sufficiency across Nigeria and Africa. The company’s collaboration with international partners and its gas assets in Delta State will also support this transition.
On the hospitality side, Dr. Omogiafo highlighted the Transcorp Hilton Abuja as a major asset, and plans are underway for new ventures in Ikoyi and Port Harcourt. The company also recorded a 69% revenue growth in Transcorp Hotels, with profits rising 138% to N14.9 billion.
Finally, reflecting on her experience as a woman in leadership, Dr. Omogiafo noted that the journey had been both rewarding and challenging. She stressed the importance of a strong support system for women balancing family and career, stating that women’s innate multi-tasking skills and accountability make them formidable leaders.
Looking to 2025, Dr. Omogiafo reaffirmed Transcorp’s commitment to the mission of improving lives and transforming Africa, with a strong focus on power generation, energy distribution, and continued development of hotel infrastructure.
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