Heirs Holdings has appointed Obinna Ufudo and Sola Yomi-Ajayi as non-executive directors, strengthening the board of the pan-African investment company as it deepens its focus on governance and portfolio expansion across key sectors.
The appointments, announced on Monday, bring decades of experience in banking, energy, risk management, and international markets to the Lagos-based firm, which has investments spanning power, financial services, technology, and healthcare across Africa and beyond.
Yomi-Ajayi, a former executive director at United Bank for Africa Plc, has more than 30 years of experience in financial services and regulatory engagement. She previously served as chief executive officer of UBA’s international business and as country CEO of UBA America.
She currently sits on the boards of UBA UK and the Business Council for International Understanding, and is a member of the OECD Blue Dot Network Executive Consultation Group, which focuses on standards for sustainable infrastructure investment.
She has also advised the US Export-Import Bank through its Sub-Saharan Africa Advisory Committee and served on the board of trustees of the Institute of International Banking in the US. Yomi-Ajayi holds an MBA from Robert Gordon University in the UK and has executive training from Wharton and Harvard Business Schools.
Ufudo, who previously served as executive director and chief operating officer at Heirs Holdings, returns to the group’s board with more than three decades of leadership experience across banking, investment, and energy. He was president and group chief executive officer of Transnational Corporation of Nigeria Plc, where he oversaw a turnaround and led the acquisition of the Ughelli Power Plant, one of Nigeria’s largest thermal power assets.
He is the founder and chairman of Atiat Leasing Ltd. and co-founder and chairman of LoanBook Ltd., a digital lending platform. Ufudo holds postgraduate and executive qualifications from the Wharton School, the University of Reading, and IESE Business School, and is a fellow of the Chartered Institute of Bankers of Nigeria.
Tony Elumelu, founder and group chairman of Heirs Holdings, said the appointments align with the company’s long-term investment philosophy. “Their depth of experience and track records will further support our leadership in pan-African proprietary investment,” Elumelu said, adding that both directors embody the group’s Africapitalism ethos, which emphasises private-sector-led development on the continent.
Founded by Elumelu, Heirs Holdings is one of Africa’s most prominent private investment groups, with interests in energy and power generation, banking and insurance, technology, real estate, hospitality, and healthcare. The group operates in 24 countries and positions itself as a long-term investor focused on building scalable businesses with economic and social impact.