In December 2024, Transcorp Hotels Plc announced Uzoamaka Oshogwe‘s appointment as its new Managing Director/ Chief Executive Officer, effective January 1, 2025. She succeeds Dupe Olusola and is expected to lead the company into its next phase of growth, building on her extensive experience in the real estate and hospitality sectors.
Says super-entrepreneur, Tony Elumelu (majority stakeholder in Transcorp Plc, owners of Transcorp Hotels):
Delighted to welcome Uzoamaka Oshogwe, the new Managing Director/CEO of Transcorp Hotels Plc. Uzo succeeds Dupe Olusola.
Uzo Oshogwe brings over 30 years of outstanding leadership experience, with significant roles at UBA Group, Accenture UK, and most recently, Afriland Properties Plc. Her proven expertise in driving strategic growth and delivering value aligns perfectly with our vision.
I want to also thank Dupe Olusola for her leadership and contribution, which have laid a solid foundation for our ongoing success.
Please join me in welcoming Uzo to her new role and appreciating Dupe for her tenure.
Transcorp Hilton Abuja is where Nigeria welcomes the world, and with our new 5,000 seat event centre, I know with Uzo, we will be taking our hospitality offering to new heights.
Transcorp Hotels Plc is a leading hospitality company in Nigeria, primarily owned by Transnational Corporation Plc (Transcorp), which holds a 76.15% stake in the company. The Nigerian government, through the Ministry of Finance Incorporated, owns 11.04% of the shares.
In the first quarter of 2024, Transcorp Hotels reported a profit after tax of ₦5.02 billion, a significant increase from the previous year.
By the third quarter of 2024, the company continued its strong performance, achieving a 67% revenue growth from ₦28.97 billion in Q3 2023 to ₦48.49 billion in Q3 2024, and a 192% increase in profit before tax from ₦5.63 billion to ₦16.44 billion.
In May 2024, shareholders approved a dividend of ₦2.05 billion for the financial year ending December 31, 2023, reflecting the company’s commitment to delivering value to its investors.
Overall, Transcorp Hotels Plc demonstrated robust financial performance throughout 2024, marked by substantial revenue growth, increased profitability, and consistent returns to shareholders.
