Owen Diana Omogiafo: Nigeria’s most audacious businesswoman
Owen started her career as a relation-ship manager at Bond Bank in 2003, and after spending a year there, she went to Accenture to become the Organisation and Human Performance Consultant (specialising in Change Management) in 2004. In Accenture, she covered various projects and clients spanning the private and public sectors and diverse industries.
By 2008, Owen left to join the United Bank for Africa (UBA) as HR Advisor to the GMD/CEO. The consistency in her career growth took a higher turn from here. After serving at UBA for two years, Omogiafo moved to Heirs Holdings Ltd where she was HR Director and Director of Resources, responsible for establishing structures for optimal man and machine engagement and deployment within the group. Omogiafo moved from there to become the Chief Operating Officer (COO) of the Tony Elumelu Foundation (TEF). She was a critical part of the team that oversaw the $100m Programme aimed at identifying, mentoring, and funding 10,000 entrepreneurs over 10 years.
She assumed the role of Executive Director, Corporate Services at the Transnational Corporation of Nigeria (Transcorp Plc) in July 2018, and was later appointed to lead the brand’s operation of its flagship Transcorp Hilton Abuja and Transcorp Hotels Calabar as the Managing Director and Chief Executive Officer of Transcorp Hotels Plc.
On March 25, 2020, she became the President and Group CEO of Transcorp Group. In this role, she now leads a diversified conglomerate affiliated with Power, Hotels, and Upstream oil and gas assets, with several subsidiaries including the Transcorp Power, Transcorp Hilton, and Heirs Holdings Limited. Besides being the youngest CEO on the Nigerian Stock Exchange, Omogiafo was the youngest and first female to occupy the position at Transcorp.
At 44, Owen Diana Omogiafo stands as the first woman to serve as President and Group CEO of Transcorp Plc, a position she assumed at the age of 39 a role in which she has not only driven significant financial growth but also made a lasting impact on the Nigerian corporate landscape.
With a $4 million stake in Transcorp Power Plc, Omogiafo has become a prominent figure in the Nigerian business community, influencing various sectors and setting a benchmark for leadership.
Under Omogiafo’s leadership, Transcorp Group has seen substantial financial success. In the first half of 2024, the company’s revenue surged by 114% year-over-year, reaching $110 million.
This growth is largely attributed to the strong performance of the group’s energy unit, a key driver behind the impressive financial results. Transcorp Group has become the 18th most valuable listed company on the Nigerian Exchange (NGX), with a market capitalization of $283 million and total assets of $390 million as of June 30, 2024.
One of Omogiafo’s notable achievements is the spin-off and subsequent listing of Transcorp Power Plc, a subsidiary of Transcorp Group.
The decision to list Transcorp Power has been particularly lucrative, with the company’s market capitalization reaching $1.74 billion. Since its listing on the NGX on March 4, Transcorp Power’s share price has increased by more than 41%, reflecting strong investor confidence.
Omogiafo’s 0.23% stake in Transcorp Power, valued at over $4 million according to Billionares Africa, shows her influence and position as one of Nigeria’s wealthiest executives.
She is a member of the Board of Trustees of the Association of Power Generation Companies (APGC) in Nigeria, member of the Chartered Institute of Personnel and Development, UK, member of the Institute of Directors (IoD) Nigeria and a member on the Board of Avon Healthcare, where she sits on the Board of Finance, Investment, and Risk Committee and Audit and Governance as a Non-Executive Director and she sits on the board of Transcorp Power Limited and Transcorp Hotels Plc.
She was named one of Africa’s Top 100 Female CEOs and under her administration as Executive Director in 2019, Transcorp Plc was named Africa’s Leading Business Hotel at the prestigious World Travel Awards, received the Signum Virtutis (Seal of Excellence) in the Hotels Sector at the Seven Stars Luxury Hospitality and the Lifestyle Awards and Africa Special Award at the Seven Stars Business Hotel.
Owen obtained a B.Sc. degree in Sociology and Anthropology from the University of Benin and an M.Sc. degree in Human Resources from the London School of Economics and Political Science. She later attended the Lagos Business School and IESE Business School, Spain. In addition, she is a Harvard-trained executive, and a certified Change Manager, from Prosci Institute, USA.
Some of her quotes include:
“Great leaders build on the legacy of others.”
“When you miss milestones, do not throw out the goal completely, rather take stock and keep on the journey.”
“I hope my story will inspire other women to just go for it, to never shrink themselves and to put out a hand for the next woman or man.”
