The Africa Energy Chamber (AEC) has recognised Tony Elumelu CON, Chairman Heirs Holdings, as one of twenty-five influential individuals expected to shape Africa’s energy sector in 2022 and beyond.
The list is a part of AEC’s highly anticipated annual outlook tagged ‘The State of African Energy 2022’, a report which outlines Africa’s energy sector and provides insight into the various challenges and opportunities within the continent.
This recognition came following Mr. Elumelu’s action plan to increase the output of the OML 17 asset recently acquired through Heirs Holdings Oil and Gas – which currently produces 27,000 bopd. It is also owed to his control over the 2,000 MW of installed power capacity in Nigeria – via recent acquisitions, which is a major contribution to the country’s growing power demand.
Tony Elumelu is the Founder and Chairman of Heirs Holdings, his family-owned investment company, committed to improving lives and transforming Africa, through long-term investments in strategic sectors of the African economy, including financial services, hospitality, power, energy, technology, and healthcare. He is also the Chairman of pan-African financial services group, the United Bank for Africa (UBA), which operates in 20 countries in Africa, the United Kingdom, France, and is the only African bank with a commercial deposit taking licence in the United States. He also chairs Nigeria’s largest quoted conglomerate, Transcorp, whose subsidiaries include Transcorp Power, one of the leading generators of electricity in Nigeria and Transcorp Hotels Plc, Nigeria’s foremost hospitality brand.
The Tony Elumelu Foundation is the leading champion of entrepreneurship in Africa. Our objective is to empower women and men across our continent, catalysing economic growth, driving poverty eradication and ensuring job creation. We believe the private sector’s role is critical for Africa’s development and that the private sector must create both social and economic wealth.
Our mission is implemented through our programmes, research, communities, advocacy and convenings, including the annual TEF Forum, the largest gathering of entrepreneurs in Africa, and TEFConnect, Africa’s digital hub for entrepreneurs. The Foundation leverages its strong relationships in the public, private and development sectors to drive its mission of creating prosperity for all.
See the full list of Africa’s Energy Sector most influential individuals here.