Thursday, December 18, 2025 - The chairman and chief executive of Stanel Group, Dr Stanley Uzochukwu, has paid a courtesy visit to Zambia’s President, Hakainde Hichilema, as part of what was described as exploratory discussions on investment and economic cooperation.
The meeting, which took place over the weekend in Lusaka,
brought together figures from business and politics, including former President
of Sierra Leone, Ernest Bai Koroma, and the chief executive of African
fintech company Flutterwave, Olugbenga Agboola.
According to information shared by Dr Uzochukwu on social
media, the visit was his first to Zambia. He said the discussions with
President Hichilema focused on opportunities for strategic investment and the
development of partnerships aimed at supporting economic growth across the
continent.
While no formal agreements were announced, the meeting
reflects growing interest among African business leaders in cross-border
collaboration, particularly as governments seek private sector participation to
drive industrialisation, digital innovation and infrastructure development.
President Hichilema, a former businessman before entering
politics, has made investment attraction a central plank of his administration
since taking office in 2021. His government has promoted Zambia as an open and
reform-minded economy, pursuing debt restructuring, fiscal discipline and
private sector-led growth.
Dr Uzochukwu heads Stanel Group, a Nigerian conglomerate
with interests spanning energy, retail, hospitality and real estate. He is also
associated with The Delborough Lagos, a luxury hotel development in Nigeria.
His business activities have increasingly extended beyond Nigeria, reflecting a
broader trend of regional expansion by African-owned enterprises.
Also present at the meeting was Ernest Bai Koroma, who
served as Sierra Leone’s president from 2007 to 2018 and has remained active in
diplomacy and private-sector advocacy across West and Southern Africa since
leaving office. His involvement underscored the informal but influential
networks through which political and business leaders often engage on regional
economic issues.
Flutterwave chief executive Olugbenga Agboola, whose company
provides digital payment infrastructure across multiple African markets, was
also part of the delegation. Flutterwave operates in several countries and is
widely regarded as one of Africa’s largest fintech firms, playing a role in
facilitating cross-border trade and online commerce.
Observers note that the presence of a fintech executive
alongside leaders from traditional sectors highlights the increasingly central
role of digital services in Africa’s economic discussions. Governments across
the continent have sought partnerships that combine financial technology,
infrastructure and private capital to improve trade efficiency and financial
inclusion.
In his post, Dr Uzochukwu said the meeting explored how
private capital and public leadership could work together to support
sustainable development. However, analysts caution that such high-level
engagements often mark the beginning of longer processes, with concrete
outcomes dependent on regulatory frameworks, market conditions and follow-up
negotiations.
Zambia, like several African economies, is seeking foreign
and regional investment to diversify beyond commodity exports and create
employment. Nigeria, meanwhile, remains one of the continent’s largest sources
of private capital and entrepreneurial talent, with its business leaders
increasingly active across Africa.
Although details of potential projects were not disclosed,
the visit reflects a broader pattern of African business figures engaging
directly with political leaders to explore investment opportunities. Such
interactions, while informal, are often a precursor to more structured
discussions involving government agencies and regulatory bodies.
For now, the meeting signals intent rather than outcome,
with both sides emphasising dialogue and shared interest in economic
cooperation. Whether this engagement leads to specific investments or
partnerships is likely to become clearer in the months ahead.
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