Businesses You Didn't Know Belonged to Tony Elumelu
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Business - April 18, 2023

Businesses You Didn’t Know Belonged to Tony Elumelu

Tony Elumelu is a Nigerian businessman, investor, and philanthropist who is known for his impressive track record in the business world. As the founder of Heirs Holdings, a family-owned investment company, and the Tony Elumelu Foundation, which supports entrepreneurship and business development in Africa, Elumelu has been a key player in driving economic growth and development across the continent. 

While many people are familiar with the economist’s high-profile businesses, such as Transcorp Hotels and United Bank for Africa, there are other lesser-known businesses in his portfolio that may surprise people. 

In this article, we will explore some of the businesses owned by Tony Elumelu that are not commonly known or associated with him.

Avon Medical Practice Limited

Avon Medical Services is a healthcare company founded in 2012 as a subsidiary of the Heirs Holdings Group. Avon Medical, a Lagos-based healthcare company that provides a range of medical services, including primary care, diagnostics, and specialist care. 

Dr Awele Vivien Elumelu, the wife of Tony Elumelu is Chairperson of Avon Medical Practice Limited. She is also the Chairperson of Avon Healthcare Limited, another Heirs Holdings Group subsidiary, and oversees the healthcare investments of Heirs Holdings.

The company which is one of the leading healthcare providers in Lagos is focused on delivering high-quality, affordable healthcare to underserved communities in Nigeria, and has been recognized for its innovative approach to healthcare delivery.

Teragro Commodities Limited

Teragro Commodities Limited is the agribusiness subsidiary of Transnational corporation of Nigeria (Transcorp), a Nigerian agribusiness company that specializes in the production and processing of agricultural products.

The company is the operator of the Teragro Benfruit plant in Benue State,  Nigeria’s first-of-its-kind juice concentrate plant positioned to exploit the agricultural raw materials available in the area.

Teragro which was founded in 2011 has Mrs Dupe Kupoluyi as the managing director and chief executive officer of the company.

Afriland Properties Plc

This is an investee company of the Heirs Holdings Group, The Company offers property management, investment, and development services, and maintenance of world-class Real Estate offerings across Africa.

Uzoamaka Oshogwe, the Managing Director and Chief Executive Officer of Afriland Properties Plc has made several impressive moves to boost the real estate sector through the company.

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