Transcorp Adds 2000MW to Nigeriaâs National Electric Grid; Launches Transformative Hospitality Products, Advances Integrated Energy Strategy
§ Transcorp stock held by over 300,000 shareholders demonstrates leadership, resilience and commitment to Nigerian economy
Shareholders of Nigeria’s leading diversified conglomerate, Transnational Corporation of Nigeria Plc (“Transcorp”), showed their strong confidence in the Board and management, at the Groupâs 15th Annual General Meeting (AGM), which took place this week at the Transcorp Hilton Abuja.
The shareholders commended the company for declaring dividends, noting that despite the negative impact of the Covid-19 pandemic on the Groupâs hospitality subsidiary, Transcorp remained committed to rewarding shareholders. They were impressed by the significant advances in the Groupâs integrated energy strategy, with the acquisition of Afam Power Plant Plc and Afam III Fast Power Ltd, delivering on the Groupâ
•Ozoude, Ikenga lead Trans-Afam Power, Transcorp Energy
Dike Onwuamaeze
The Board of Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s largest listed conglomerate and a leading investor in the energy sector, has announced the appointment of Mr. Victor Famuyibo and Mallam Ahmadu Sambo to its board of directors.
The appointment became effective from April 22, 2021.
The group, in a statement at the weekend, also formally announced the appointment of two new members of its executive management team: Mr. Vincent Ozoude, as MD/CEO of Trans-Afam Power Limited and Mr. Peter Ikenga, as MD/CEO of Transcorp Energy Limited.
Famuyibo joined the board with deep experience and knowledge in human resources and personnel management. He worked with multinational companies such as UAC Nigeria, Heineken International and Nigerian Breweries Plc, where he led numerous teams to drive strong employee engagement, the statement added.
The COVID-19 pandemic has significantly impacted the way people live, connect, shop and discover. This was more evident during Ramadan, a period of introspection and celebration for nearly 2 billion people. During Ramadan, people want to come together, whether virtually or socially distanced, to share the joy with loved ones. Despite inevitable differences to recent years, we will see the emergence of new discovery and shopping behaviours.
To better understand the behaviours of people who observe Ramadan and who shop for this season, Facebook IQ, Facebook’s insights and research division, in partnership with YouGov, a global public opinion and data company, has unveiled findings of a study conducted during Ramadan 2020, with over 17,000 respondents across eleven countries including Nigeria. Approximately 1,500 interviews were completed with samples that were representative of the adult online population across age, gender and region in each market. The research explored a range of
Goddy Egene
Transnational Corporation of Nigeria Plc (Transcorp) has released its audited financial statements for the year ended December 31, 2020, showing a revenue of N75.271 billion and profit after tax (PAT) of N3.792 billion.
Total assets of the group grew by eight per cent from N313.1billion to N338.1billion, while shareholders’ funds increased by five per cent, from N108.7 billion in 2019 to N114.4 billion in 2020.
According to President/Group CEO, Transcorp Plc, Owen Omogiafo, the performance was underpinned by execution of the group’s well-defined strategies to deliver growth and achieve its long term goals.
“We sustained and drove our growth agenda across all our business sectors in 2020, notwithstanding the challenging operating environment, emanating from the COVID-19 pandemic.
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