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.
