“To become a globally competitive conglomerate, supplying world-class products and services to global markets.”
TransCorp’s mission is ‘to serve global markets with premier products and services from world-class production and service facilities sited in Nigeria, owned by Nigerians and managed by Nigerians.’
Transnational Corporation of Nigeria Plc (“TransCorp”) was incorporated on November 16, 2004 with the aim of establishing a “Mega Corporation”, “created” in Nigeria and owned by Nigerians, that would respond to market opportunities requiring significant capital investment, and which would be capable of succeeding not just within Nigeria but also in the African continent and around the world
In establishing TransCorp, the guiding principles were based on a common overriding objective: An unrelenting passion to rebuild and reposition Nigeria at the forefront of the comity of nations and as a clear leader in Africa’s economic renaissance, through the creation of a “mega corporation” created in Nigeria, built and nurtured by Nigerians and most importantly, owned by all Nigerians.
TransCorp was established to focus not only on short-term goals but to map out strategies that will guarantee long term success and subsequently, translate into positive long term benefits for the Nigerian economy and Africa in general.
In short, TransCorp is a bold attempt at nation building from the private sector perspective.The founders of TransCorp are a roll-call of eminent Nigerian business people. With expertise cutting across all sectors of the Nigerian economy and unparalleled mass of global exposure, it can be said that the Board of TransCorp is one of its most important assets.
The Present
Since TransCorp’s formal inauguration on July 25, 2005 the company has evolved from being a conceptual model to becoming a fully operational business entity. TransCorp is currently the core investor in the Hilton Hotel, Abuja which has been rebranded ‘TransCorp Hilton’. The hotel is generally regarded as the premier facility for the hotel and hospitality industry in Nigeria. TransCorp is currently reviewing opportunities to expand the property as well as build on existing investment.
In addition, TransCorp is the core investor in the Nigerian Telecommunications Limited (NITEL) and Mobile Telecommunications Limited (M-TEL)
TransCorp’s acquisition of the Hilton, NITEL and M-TEL illustrate our capabilities and strategy of rapid growth and expansion. In the short term, TransCorp elected to grow by taking advantage of the Federal Government’s privatization programme aimed at promoting the revival of ailing state run enterprise, whilst in the mid to long term, greenfield development and Joint Ventures will be the preferred growth options. TransCorp’s objective is to grow industry and create value, either by embarking on entirely new business ventures, or by injecting fresh capital and management expertise into large acquisition targets.
TransCorp is developing strategies that will allow it increase its knowledge and proficiency in its specific areas of business focus, which include five core areas that have been identified as holding the strongest comparative and absolute advantages for the company. These are:
A. Energy (Oil & Gas, Power)B. Technology (IT, Telecommunications)
C. Hospitality (Tourism & Entertainment)
D. Agriculture & Agro business
E. International Trade & Logistics
The Future
TransCorp is now listed on the Nigerian Stock Exchange and is in the final stages of preparing for an Initial Public Offering (IPO). Early this year, TransCorp recorded tremendous support and interest in its private placement which had a target of N6 billion. The private placement raised about over N18 billion naira. With the level of success recorded in the private placement, TransCorp is confident of replicating the success when its IPO opens.
In terms of depth and quality, TransCorp has assembled one of the most distinguished and capable Board of Directors in Nigeria. As a young Nigerian company operating under challenging market and policy conditions TransCorp recognizes that a major source of assurance to our local and international investors and partners is the composition of our board and the qualifications of our senior management. Two important criteria that have been used in the selection of the members of the Board are the extensive experience in senior and chief executive positions at large and demanding organizations and integrity in the conduct of the affairs in these organizations
For details kindly visit http://www.transcorpnigeria.com
