Good People, Transcorp Hotels Plc is now worth an excess of N1 trillion in the Nigerian stock exchange (NGX). This is very significant as it shows that Nigeria’s economy can deliver results if innovators can do the necessary work. Yes, besides banking, cement, and industrials, Nigeria has latent opportunities in the hospitality sector, and if we do the right things, great returns will come.
Transcorp Hotels Plc, the hospitality arm of Transnational Corporation Plc, has etched its name in history as the first hospitality group in Nigeria to surpass the N1 trillion market capitalization threshold.
This remarkable achievement not only solidifies Transcorp Hotels’ position as an industry leader but also catapults it into the exclusive league of SWOOTs (Stocks Worth Over One Trillion) group.
The announcement came on January 10, 2023, following a significant 7.24% surge at the Nigerian Exchange (NGX), closing the share price at N100 and propelling the market capitalization to an impressive N1.024 trillion.
I congratulate the Transcorp Hotels team and Chairman Tony Elumelu for this accomplishment. Nations rise when great entrepreneurs emerge. Those who build will win the future.
I am expecting the real estate sector to deliver a N1 trillion company very soon. The agro-sector is on the path if you are paying attention to what is happening with Okomu Oil and Presco. Yes, these firms can deliver alpha.
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It is only by diversifying and expanding our economy would we expect the rise of all via more economic opportunities. That I commend Transcorp Hotels does not mean that we have done much in Nigeria. As I write, the market cap of South Africa’s publicly traded companies is more than $900 billion of what we have in Lagos. While South Africa has agro-firms, hotels, real estate firms, etc well represented in their own “N1 trillion” league, Nigeria remains muted with just a handful of Dangote Cement, BUA Foods, BUA Cement, Nestle, MTN Nigeria, Airtel Africa and some banks.
Transcorp Hotels Plc earned its place among esteemed entities in the SWOOT group during the week ending January 12, 2023. This exclusive group, now comprising eleven companies listed on the NGX with a market cap exceeding N1 trillion, includes notable names such as Airtel Africa, Dangote Cement, MTN Nigeria, BUA Foods, BUA Cement, GTCO Holdings, Seplat Energy, Zenith Bank, United Bank for Africa, and FBN Holdings.
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