Awele Elumelu Purchases 7.3 million New Transcorp Shares

In a strategic move that further solidifies her family’s influence in the Nigerian business landscape, Dr. Awele Elumelu, the accomplished medical practitioner wife of renowned businessman Tony Elumelu, has acquired an additional 7.3 million shares in Transnational Corporation of Nigeria (Transcorp).

This follows her recent purchase of a $14 million stake in the conglomerate, propelling her to become one of its largest shareholders.

According to a notification of share dealings published on Tuesday, June 13, Awele Elumelu completed the acquisition of 7,309,813 shares in six separate transactions on the Nigerian Exchange on June 5, amounting to a cash consideration of N21.9 million ($46,100).

With this latest acquisition, Awele Elumelu’s total holdings in Transcorp have reached an impressive 2,070,794,804 shares, consolidating her family’s position within the conglomerate.

This move aligns with her husband’s previous decision to increase his stake to over 30 percent, following the acquisition of shares by frontline billionaire, Femi Otedola.

Awele’s prominence extends beyond her investments, as she has made significant contributions to the healthcare sector. Serving as the Chairperson of Avon Healthcare Limited as well as exhibits exemplary leadership and expertise in medicine, surgery, pediatrics, obstetrics and gynecology, and emergency medicine.

Her career highlights include valuable contributions to the prestigious Lagos University Teaching Hospital, as well as international experience at Grantham and District Hospital in the United Kingdom.

Awele’s dedication to healthcare and her involvement with Heirs Holdings and the Tony Elumelu Foundation (TEF) reflect her commitment to improving the well-being of humanity. Her contributions have positioned her as a prominent figure in the industry.

With this latest development, Awele’s increasing influence in Transcorp not only highlights her business acumen but also serves as a testament to the Elumelu family’s commitment to driving growth and making a lasting impact on Nigeria’s business landscape.