The President/Group CEO of Transcorp, Owen Omogiafo has set out her strategic ambition, while also committing to safeguard shareholders’ interests by ensuring improved dividends.
Speaking during its 14th Annual General Meeting (AGM) online, Mrs. Omogiafo who was recently appointed as the Group CEO with a team of subsidiary CEOs, stated that the new management team is dedicated to delivering and exceeding the strategic objectives of the Company, rooted in its founding vision and expressed in its corporate purpose of ‘Improving Lives, Transforming Nigeria’.
She went on to say “In Hospitality, we will deepen and expand our market share by deploying an asset light strategy, leveraging best in class technology and continuously drive the highest service standards.
“In Power, we target completing the ongoing transaction for the 100% acquisition of another power plant in the gas rich Niger Delta Region of Nigeria – Afam Genco, this year. This will enhance our play in the power space, with increased generation capacity, revenue and profitability.
Our drive to diversify our energy mix will also continue, with a focus on renewable energy and off grid solutions. We will continue to monitor developments in the oil and gas space, while making the best decisions in the interest of the company and its shareholders regarding the development of our oil and gas asset, OPL 281.”
Working with the MD/CEO of Transcorp Hotels Plc, Dupe Olusola and the MD/CEO, Transcorp Power Ltd, Chris Ezeafulukwe, and all our highly committed staff and partners, we are well positioned as a group to continue to deliver great value for our shareholders”.
Mrs. Omogiafo conclude by highlighting that despite current challenges brought on by the global pandemic, the underlining strength of the Group’s businesses, the quality of its assets, its position as the leading Nigerian electricity producer, the proud owner of the Transcorp Hilton Hotel in Abuja, the hospitality gateway to Nigeria and its growing strength as an effective natural resources player, should give shareholders great confidence in the Group’s future.