Business Journal


Heirs Holdings Raises Pay for Staff in Celebration of Workers’ Day

Mr. Tony Elumelu, Chairman of Heirs Holdings, just made an announcement on his LinkedIn platform announcing a pay raise for all companies within the Heirs Holdings portfolio in celebration of Workers’ Day.

Heirs Insurance Group is one of them. With this, Heirs Insurance Group is now likely one of the top three highest paying employers in the insurance industry.

‘This salary adjustment underscores our Group’s unwavering commitment to our people, particularly during challenging economic times. It also reinforces our standing as one of the best workplaces promoting employee welfare in the broader financial services sector. Recall that Heirs Insurance Group has been consistently delivering excellent financial performance since entering the industry in December 2020.’

Elumelu said:Workers’ Day this year made me reflect. It has been a tough year – and we know things are not getting easier. The Heirs Holdings Group has made great strides – but our success is more than just figures, it is the success of all of us. We are a family – and I know the challenges we all face. I speak with HH People daily. I make a deliberate effort to be as close to our people as possible, to appreciate the good work they do, and listen to their concerns. Our people are our most important asset – a lesson I learnt early on in my career and one that I never take for granted. When I use the term Africapitalism, when I champion young entrepreneurs, this approach and this philosophy is as important for our own people as it is for the thousands we help across Africa. If a business is not doing good for its own people, it is not doing well. From these conversations, it was clear to me that this year’s May 1 had to be different. It had to be completely about putting our people first, about demonstrating our commitment to their wellbeing, about uplifting their personal and family lives so that they find fulfillment, and about showing our people that, indeed, across our Group, we reward excellence and loyalty. It was with great pleasure that we announced upgraded salary compensation packages across our entire Group and investee companies, to mark Worker’s Day! Despite the tough year, our staff, over 5,000 of them, have consistently delivered outstanding performance, evidenced by the successes we have recorded. Our commitment to recognising and rewarding the invaluable contributions of our people remains unwavering, knowing that our people are the backbone of the business. This salary increase is a message of appreciation to the real heroes who work every day to achieve the results that have made us what we are today. And the message of our work is getting across, with the tremendous value our listed companies are creating for all stakeholders. To our Heirs Holdings People: “Well done, guys. You deserve the best.”

He continued: “Thanks to you all. Happy worker’s day, HH People! Heirs Insurance Group, Avon HMO, Avon Medical Practice, United Capital Plc, Africa Prudential Plc, Transcorp Group, Transcorp Hotels Plc, Transcorp Power Plc, Afriland Properties Plc, Heirs Energies, Heirs Technologies, The Tony Elumelu Foundation.”

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