March 28, 2019/Transcorp Plc
• Targets Cost Management Initiatives to Drive Hospitality Business, Others
• Transcorp Power positions to maintain power generation lead in Nigeria by increasing its generation capacity.
Lagos, Nigeria: Nigeria’s leading conglomerate, Transnational Corporation Plc has set strategies to maintain the strong business performance displayed in the recently released 2018 year-end results. The company articulated its robust growth projections for the year 2019 at its Facts Behind the Figures presentation which held on Tuesday, March 26, at the Nigerian Stock Exchange.
The presentation which comes on the heels of the recently released financial results for Transcorp Plc and Transcorp Hotels in the year 2018, was anchored by the CEO of the Nigerian Stock Exchange, Oscar N. Onyema, OON. He commended the Transcorp Board of Directors for taking giant Corporate Governance strides by meeting up with its post–listing requirements of filing its financials and for being the first to present its Facts Behind the Figures to the Capital Market community in 2019.
Emphasising the importance of an enabling environment as the engine that drives private sector growth, President/Chief Executive Officer, Transcorp Plc, Mr. Valentine Ozigbo, reiterated the importance of boosting the investment landscape and projecting Africa as an investment destination to the world.
Speaking on the social impact milestones of the Group, Mr. Ozigbo stated “Today, we own and manage Transcorp Hilton Abuja, the best business hotel in Africa, as well as Transcorp Hotels Calabar, and are intent on improving tourism in Nigeria and beyond. We own and manage Transcorp Power Limited, one of the most strategic power assets in Nigeria and aim to meet the power needs of 1 out of every 4 Nigerian, and through this, help in poverty eradication and improving Nigeria’s competitiveness. We are positioning to be that Conglomerate Nigerian’s will be most proud of.”
The Managing Director/Chief Executive Officer, Transcorp Hotels, Mrs. Owen Omogiafo, spoke on the expansion focus of Transcorp Hotels Plc, touching on the Hotel’s most recent asset acquisition and its efforts to cement the brand as the preferred hospitality choice across Africa.
“With Africa’s rich cultural landscape, tourism can easily become a key economic prospect, and Transcorp is playing its part in the hospitality value chain to ensure Nigeria, and indeed Africa, is seen as the preferred destination for tourism and hospitality,” she said. “Already, we are doing evidently well, considering the number of awards and nominations we have received in last year. We will continue to deepen our play within the tourism industry and put Nigeria on the map through the provision of exceptional service at our hotels’. She concluded.