Dr. Owen Omogiafo is a top Nigerian C-suite executive, president, and chief executive officer of Transcorp Group. She has led the conglomerate since March 2020, becoming the first woman to hold the position. Her tenure has coincided with significant corporate moves across Transcorp’s core sectors, which include power, hospitality, and energy, positioning the group for accelerated growth and more profound impact.
The Group
Transnational Corporation Plc (Transcorp Group) is one of Africa’s top diversified conglomerates. Its operations span power generation, hospitality, and the energy sector. The Group manages its diverse services through key subsidiaries: Transcorp Power Plc, Transcorp Hotels Plc, and Transcorp Energy Ltd.
Transcorp plays a vital role in driving economic development by powering Nigerian homes and businesses, delivering exceptional hospitality experiences, and exploring opportunities in the upstream oil and gas sector.
A Brand with Tony Elumelu’s Signature
Transcorp’s vision and consistent growth are deeply connected to one of Africa’s most respected business icons—Tony O. Elumelu, CFR, who is the Group Chairman of Transcorp. Known for his economic philosophy of Africapitalism, Elumelu believes that the private sector, especially entrepreneurs, must play a key role in the continent’s development. His leadership spans various sectors, including as Chairman of the United Bank for Africa (UBA), where he has championed innovation in banking and financial inclusion.
Omogiafo’s Path to Leadership
Omogiafo joined Transcorp in 2018 as the Executive Director of Corporate Services at Transcorp Hotels Plc. She was later appointed Managing Director/CEO of the hospitality subsidiary before assuming the role of Group CEO in 2020. Her appointment occurred during economic uncertainty, but she has since overseen strategic expansions and maintained strong financial performance.
Under her supervision, Transcorp Group completed the acquisition of Afam Power Plc and Afam III Fast Power Ltd, collectively known as Afam GenCo, for ₦105.3 billion (about $65 million). The acquisition added approximately 966 megawatts (MW) to the company’s power generation capacity. Combined with its existing assets, Transcorp now operates with an installed capacity of nearly 2,000 MW, placing it among Nigeria’s leading power generation companies.
The Group has advanced the development of the Oil Prospecting Licence (OPL) 281 in the upstream energy space. Legal disputes surrounding the license were resolved, paving the way for further development under its integrated gas-to-power strategy.
In hospitality, Omogiafo also saw the launch of “Aura by Transcorp Hotels,” a digital platform that offers users access to curated accommodations, dining, and local experiences across Nigeria. This marked the Group’s entry into digital hospitality solutions.
Trancorp’s goal for female gender inclusivity
Transcorp’s leadership structure has drawn attention for its emphasis on gender inclusion. Most of the top leaders in the managerial team are women including Uzo Oshogwe (MD/CEO of Transcorp Hotelsc), Dr. Foluke Abdulrazaq (Vice Chairman of the Board of Directors), and Dr. Toyin F Sanni (Non-Executive Director)
This development shows a deliberate effort to foster gender diversity in executive roles and departs from prevailing norms in Nigeria’s corporate sector.
In 2024, Transcorp Group reported revenue of ₦408 billion (about $254 million), which represents a 107% increase from ₦197 billion (about $122 million) in 2023. The company attributes this performance to improved operational efficiency and growth in the sector.
“Looking ahead, we will deepen our growth trajectory by seizing emerging opportunities, and strengthen our position across Nigeria’s power, hospitality, and energy sectors, even as we consider more sectors that take us closer to our purpose of improving lives and transforming Africa,” Owne Omogiafo said.
Transcorp Group has positioned itself for continued relevance and influence within Nigeria’s corporate ecosystem under Owen Omogiafo’s leadership with these developments.
