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Leo Stan @ 66: Africa’s Technology Miracle Child Comes Full Circle
By Henry C. Ibeakolam
Rarely in this part of the world would you find a man like Leonard Nnamdi Stanley Ekeh, better known as Leo Stan Ekeh.
Leo Stan Ekeh.
For starters, Leo Stan, as he is fondly addressed, is not your regular fellow. He ranks well and truly as an unusual entrepreneur, one who is not only absolutely outstanding at what he does, but a man who also stands head and shoulders apart from his peers.
The story of technology in Africa and in his native Nigeria would decidedly be incomplete without a mention of the many pioneering roles Ekeh played in this domain. But it is in chronicling his amazing journey of well over three decades in the field of technology that some of the exciting qualities that make Ekeh outstanding align in sharp contrast.
Born on April 22, 1956, in the rustic town of Ubomiri in Mbaitoli, Imo State, Ekeh is of the Baby Boomer generation – often defined as people born from 1946 to 1964, during the post–World War II baby boom. Remarkably, members of this generation fall among the most digitally-disadvantaged, especially when compared to their more technology-savvy counterparts in the Millennials or Gen Z generation.
In fact, research by the Pew Internet Project shows that Baby Boomers dominate globally among current Internet non-users. But it goes even beyond that. More than half of the members of this generation say the main reason they don’t go online now is because they don’t think the Internet is relevant. For these ones, take away Facebook or WhatsApp and you cut off probably their only links to the digital world.
Yet, Ekeh, who was recently honoured as the Forbes Best of Africa Leading Tech Icon, remains an outlier.
For decades here in Africa, the man has not only dominated the technology ecosystem, churning out innovations by the dozens in a sector which remains alien to many of his contemporaries, but which for him is a playground where he has continued to find relevance and expression, giving the Millennials and Gen Z something to think about and look up to.
In his words: ‘‘Despite my age, I feel very young. My eldest son will tell anyone who cares to listen: ‘Ha! Chairman is even younger at heart than many of us in the younger generation’. This is very important because I operate in a sector that is dominated by young people. I build products and solutions that are largely consumed by the youths, so I must understand their mindset and reasoning. I have to be like them in order to succeed,’’ he once stated at a public event.
But if his unusual pizazz as a technology guru ranks as a misnomer, it would be in keeping with the rest of his nature.
Restless but blessed with the brains of a genius, Ekeh’s personal life story further demonstrates the peculiarities of a maverick who stands apart and alone; a miracle child or digital orphan, as he often describes himself. He has never tasted alcohol from childhood till date, neither has he ever smoked, be it the regular cigarettes or any of the more exotic stuff that are as varied in their names or configurations that abound today.
It is interesting, while restating the unusualness that distinguishes Ekeh, to observe that unlike many Nigerian entrepreneurs whose little beginnings are often glossed over or consigned to the rubbish heap of history when they emerge, Ekeh’s remarkable rise to the pinnacle of success as a digital entrepreneur is thrown into sharp relief by the obstacles, the challenges, the struggles he faced, all of which he surmounted on his entrepreneurial journey.
It is not a secret that Ekeh used to live in the same apartment that housed his first office, or that his unerring knowledge of Lagos roads comes partly from the fact that he used to drive a commercial bus for fun with his friends.
A devout Catholic and former Mass servant, Ekeh, unknown to many, cheated death early in life, surviving a ghastly accident that left him with multiple stitches in his upper left arm while on the verge of leaving the country for studies abroad – a development which ultimately resulted in him missing resumption in the UK and eventually opting for India where he enrolled for a degree programme in Economics at the highly respected Punjab University. But the entire adventure would appear as if fate was playing a hand in forging the man’s destiny.
India, at the time Ekeh stepped foot there, was a nation struggling to convert its huge potential and undoubted human capital to wealth. Perhaps, not surprisingly, his time in India contributed a great deal in imbuing Ekeh with some of the remarkable fighting spirit and uncommon zeal to succeed he is renowned for. As he puts it, studying in India was “a great turning point in my life because I found the economy of India a realistic economy”.
Lest we forget, it was in that same India that Ekeh met the cerebral Chioma Ekeh, the love of his life and reliable sidekick, the woman who would become his wife and who at the time, turned out to be the only Nigerian studying Mathematics at the university.
Moving on from India and seeking further studies in the UK, Ekeh had his eyes opened to an environment which saw no future for Nigeria or Africa in technology back then.
His tutors at Ireland’s Cork City University, where he elected to study Computer Science, had painstakingly studied his temperament and character, correctly identifying him as a restless, smart and business-minded chap who would probably end up frustrated if he returned to his native Nigeria at the completion of his studies. But Ekeh has never been one to run from a challenge.
Armed with a postgraduate degree in Risk Management from a shared course at Nottingham University and City University, London, he had been faced with the prospect of completing a Masters’ Degree in Business Law at what is known today as London Metropolitan University or terminating the programme after eight months and converting his final school fees to return to Nigeria and launch his first company – Task Systems Ltd.
Ekeh chose the latter and the rest, as they say, is history.
For a man whose early ambition was once to own the largest transport company in Nigeria, Leo Stan Ekeh’s pivot to the technology business, as well as his subsequent dedication to creating a digital identity for Nigeria and putting the country and Africa, by extension, on the global map is the stuff of legend.
Ekeh’s many exploits – pioneering Desktop Publishing and Computer Graphics in West Africa and computerizing over 95 per cent of Media/ Multimedia houses and book publishing houses in Nigeria in 1987 through Task Systems; pioneering digital dispensing fuel pumps in partnership with Elf Petroleum and Schlumberger, France through his company Stanoil after he was cheated by a fuel attendant using the analogue pumps; launch of the first locally assembled and internationally certified computer brand in Sub-Saharan Africa – Zinox Computers; pioneering Sub-Saharan Africa’s leading and biggest technology products distribution company – TD Africa; deployment of the single largest e-Library and Wireless Cloud rollout in Africa; his status as the early pioneer of e-Commerce in Africa with Buy Right Africa DotCom; his sterling role in midwifing the biometric digital revolution in Nigeria, saving the country huge embarrassment by delivering the Independent National Electoral Commission (INEC) voters’ registration in 2006 when foreign contractors could not deliver after months of promises; repeating the feat four years later when he supervised the biggest single ICT digital rollout in Africa with the deployment of the Direct Data Capture (DDC) project with INEC in 2010 valued back then at over $170m, among many others too numerous to list out here – are well-chronicled.
But it is to the credit of his indefatigable nature and passion for Nigeria that, at an age when many of his peers were considering calling time on their careers, Ekeh decided to take on a challenge that even the most optimistic of his backers saw as a suicide attempt.
In early 2018, Ekeh and his team had announced the acquisition of Konga, a once-thriving indigenous platform which held the status of being one of the latter-day pioneers of the new wave of e-commerce in Nigeria but which, at the point of acquisition from its erstwhile owners, South African-headquartered Naspers and Swedish-based AB Kinnevik, was almost on its last days.
It was a piece of business whose echoes reverberated around the corridors of the global business world. For many, the acquisition of Konga would be the final straw that would break the irrepressible juggernaut that Ekeh represented. Such was the enormity of the task that lay in resuscitating the brand and restoring its glory days.
Or so it seemed.
Four years down the line, Konga, written off by many, has under new management, not only risen from the ashes of its near exit from the Nigerian e-commerce market, but is now the toast of desirous investors the world over and being touted as the potential leader of e-commerce in Africa.
It is proof of the magic wand that Ekeh wields, that gifted touch he brings to bear and the sagacity/mastermind at work behind his always clean-shaven pate that Konga, which reports reveal was once hemorrhaging about N400m per month, is today the first African e-commerce brand to turn a profit.
No doubt, Leo Stan, as his friends call him, is a national treasure, but he remains a man whom many believe – and rightly so, has hardly received the kind of recognition and acclaim he deserves from successive Nigerian governments. A man of extreme humility and a renowned philanthropist, Ekeh’s massive contribution in promoting digital democracy and ushering millions of Nigerians and Africans into the digital ecosystem remain unmatched across the continent.
As he turns 66 today, Tuesday February 22, 2022, it would appear Ekeh, who has never hidden his ambition of building the first and biggest 360-degrees integrated ICT conglomerate out of Africa, has come full circle on his wish, especially with the addition and impressive turnaround of Konga – now a flourishing e-commerce giant – to a formidable cast of thriving entities in the Zinox Group with proven and advanced competencies in a wide variety of tech-driven deliverables across verticals.
But it is also in keeping with Ekeh’s status as a rarefied, unusual breed of entrepreneur that one would be hugely surprised if he quits innovating, even at 66.
As he succinctly phrased it: “My strategy from childhood as a poor fellow was to cause disruptions, hence the decision to venture into technology which allows room for constant innovation…The only way I can sustain my dominance in the marketplace is through constant innovation and this is tied to sleeping less and eating healthy. It is important that in that hunger to be successful, you institute strong auditable system and structure which sustain your business.’’
At 66, Africa’s technology miracle child remains the poster child of all that is great in humanity.
By Henry C. Ibeakolam writes from Abuja, Nigeria
Payaza Africa, a payments infrastructure company, has earned strong credit ratings from four major rating agencies, reinforcing its growing reputation as a resilient and credible player in Africa’s financial services ecosystem.
The payment company recorded upgrades across the board, with DataPro raising its rating from A to AA-, Intelligence Africa assigning it an A- investment-grade rating, Agusto upgrading it from BBB to A-, and GCR, an affiliate of Moody’s, also moving it from BBB to A-.
A credit rating reflects a company’s financial strength and its ability to meet debt obligations, indicating how safe it is for lenders and investors to extend credit.
In a statement on Monday, the company described the achievement as a validation of its disciplined growth trajectory and operational resilience in a dynamic fintech landscape. It added that the upgrades position Payaza as a future-ready brand with increasing relevance not only within Africa but also in the global fintech space.
Commenting on the development, Seyi Ebenezer, the Chief Executive Officer of Payaza Africa, said the ratings reflect years of deliberate effort to build a sustainable and globally competitive institution.
“This milestone is a strong affirmation of the work we have done to build Payaza on a foundation of discipline, trust, and long-term value creation. Receiving these upgraded ratings sends a clear message that Payaza is not only growing, but growing with strength, structure, and sustainability,” he said.
Ebenezer noted that the recognition goes beyond financial performance, highlighting the company’s ability to execute strategically while maintaining strong risk management practices.
“For us, this is bigger than recognition. It reflects our commitment to building a world-class institution that can compete globally while continuing to serve businesses and consumers across the continent with excellence.
“Over time, our ratings journey has reflected more than strong financial performance. It speaks to a business built on disciplined execution, prudent management, and the ability to scale responsibly in a dynamic market. This has helped us stand out not only as an innovator in digital payments, but as a maturing financial institution with the operational depth to compete globally.
“These new ratings are expected to further strengthen Payaza’s standing with investors, regulators, partners, enterprise clients, and the wider financial community. In a sector where trust, resilience, and compliance are increasingly central to long-term success, independent ratings remain a powerful endorsement of a company’s ability to manage risk, meet obligations, and sustain growth,” Ebenezer said.
Payaza Africa provides payment infrastructure solutions focused on collections, payouts, embedded finance, and digital commerce enablement for businesses across Africa.
The company has also continued to expand its product ecosystem with solutions such as Payaza Checkout for payment collections and payouts, Chat and Pay by Payaza for WhatsApp-based transactions, Payaza Give for donations and digital contributions, and Shopaza, its e-commerce platform designed to help businesses sell and receive payments more efficiently.
News
London Strengthens Global Investment Ties with Africa @ First Ever London-Africa Business Summit
The Mayor of London, Sadiq Khan, has today hosted City Hall’s first ever London-Africa business summit, bringing together 200 business and political leaders from across the continent to strengthen trade and investment ties between London and Africa.
Held in the heart of the City of London, the summit included the Minister of Trade for Agribusiness and Industry in Ghana and representatives from SOAS, the Nigerian Exchange Group, Ventures 54 and London Africa Network to showcase London as the global city of choice for African companies looking to expand internationally and attract investment.
The Mayor announced the summit during his 2025 trade mission to Nigeria, Ghana and South Africa, where he led a delegation to promote London as a global destination for investment. Since the visit, African businesses have invested more than £30 million into London through foreign direct investment.
117 African organisations are listed on the London Stock Exchange, spanning sectors from telecoms and finance to energy and technology. Companies include telecoms giant Airtel Africa and energy supplier Seplat Energy. By comparison, fewer than 20 African organizations are listed on the New York Stock Exchange, underlining London’s deep economic and cultural links with the continent.
The summit builds on growing economic momentum between the UK and Africa. Total UK-Africa trade reached approximately £52 billion in 2025 despite continued global economic uncertainty, while UK exports to Africa increased to nearly £26.2 billion, reflecting rising demand for UK goods and services across African markets.
Africa is increasingly recognised as one of the world’s most important long-term growth regions, driven by rapid urbanisation, infrastructure investment, population growth and expanding consumer markets.
The UK remains among Africa’s top 10 supplying markets and continues to strengthen trade relationships through agreements covering 18 African countries. There are also huge community links between the UK and Africa. The UK has the second largest Nigerian diaspora population, second only to the US, with an estimated 215,000 Nigerians living here.
The Mayor’s London Growth Plan identified the need to attract more foreign direct investment to help grow London’s economy by £107 billion by 2035 and support the creation of 150,000 good jobs by 2028. London continues to lead as the top destination for African foreign direct investment in Europe and the US, ranking second globally outside Africa behind only Dubai.
The summit also highlighted major opportunities for collaboration across sectors, including financial services, digital technology, education, healthcare, energy transition, infrastructure and the creative industries, with London well positioned to deepen its role as a strategic trade and investment partner for African markets.
The Mayor of London, Sadiq Khan, said: “I am proud to host City Hall’s first ever London-Africa business Summit, bringing together investors, entrepreneurs and businesses to showcase London as the best city in the world for African companies to expand internationally and attract investment.
“With more African companies listed on the London Stock Exchange than any other exchange, it is one of the most globally important growth regions. I am delighted that my African trade mission last year has encouraged both inward investment and outward expansion, creating jobs and further strengthening the links between us. I look forward to more opportunities developing from this Summit as we continue to build a better, more prosperous London for everyone.”
Mr. Mark Smithson, Country Director, UK Department for Business and Trade, Nigeria, and Anglo West Africa said: “The London-Africa Business Forum has brought together ambition, capital and creativity, reinforcing London’s role as a global gateway for African enterprise.
“As we look to the next chapter, we are deepening partnerships that drive sustainable growth, shared prosperity and long-term opportunity across both regions. In Nigeria, we are working closely with key partners, businesses and investors to unlock investment, create jobs and deliver tangible economic outcomes.”
Soren Nikolajsen, Managing Director, Industry Engagement Defence and Trade at Natwest said: “London remains one of the world’s leading destinations for international investment, underpinned by its deep financial expertise and global connectivity. Bringing together investors from across Africa in this way is a valuable opportunity to strengthen relationships, showcase the breadth of opportunity here, and support long-term, mutually beneficial growth.”
Olukorede (K.O.) Adenowo, Chief Executive Officer, FirstBank UK, said: “FirstBank UK is proud to support the strengthening of the Africa–UK corridor, where growing demand for capital and expertise continues to drive cross-border opportunity. London remains a powerful gateway for African businesses seeking to scale internationally, while Africa offers compelling long-term investment potential.
“At FirstBank UK, we are focused on supporting cross-border trade and facilitating capital flows by connecting clients to global markets and structuring bankable opportunities. Through stronger collaboration, we can unlock greater investment and deliver sustainable growth across both regions.”
Dylan Martin, Chief Executive Officer of Teybridge Capital said: “Our expansion in London marks an important milestone for Teybridge Capital Europe and reflects the strength of our growth in the UK market. With over 60 per cent of our client base in the UK, this was a natural step in deepening our presence on the ground and investing in a high-performance, locally based team to support our next phase of growth.”
The Federal Government has received a major boost in its drive to strengthen teacher education and digital learning, as the Government of Japan, through the UNESCO International Institute for Capacity Building in Africa (IICBA), donated ICT equipment and learning materials to 15 teacher training institutions across Nigeria.
Speaking at the official handover ceremony held at the Federal Ministry of Education in Abuja, the Minister of State for Education, Prof. Suwaiba Said Ahmad, described the intervention as a significant contribution to the country’s efforts to improve teacher quality, digital literacy and inclusive education.
She said the donation forms part of a regional initiative launched in 2024 by UNESCO-IICBA, the Government of Japan and the African Union to strengthen teacher training and promote continuous access to safe, quality education for girls in West Africa.
According to the minister, the project, which covers Nigeria, Burkina Faso, Cameroon, Chad, Mali and Mauritania, aligns with the Federal Ministry of Education’s priorities under the Renewed Hope Agenda, particularly in the areas of equity, quality education, digital transformation and inclusion.
“Teachers remain the backbone of every education system. No education reform can succeed without well-trained, motivated and digitally empowered teachers,” Ahmad said, noting that the equipment would modernise teacher training institutions and improve access to digital learning resources.
The beneficiaries comprise 15 federal and state colleges of education spread across Nigeria’s six geo-political zones, including the Federal College of Education, Kontagora; Federal College of Education, Zaria; Federal College of Education (Technical), Gombe; Federal College of Education, Yola; Federal College of Education (Technical), Asaba; Federal College of Education (Special), Oyo.
Others are Federal College of Education (Technical), Umunze; College of Education, Zuba, FCT; Isaac Jasper Boro College of Education; Enugu State College of Education (Technical); Sa’adatu Rimi College of Education, Kano; Adamu Augie College of Education, Argungu; Shehu Shagari College of Education, Sokoto; Adamawa State College of Education, Hong and Taraba State College of Education, Zing.
The donated items include 65 laptop computers, 71 tablets, four desktop computers, five interactive smart boards, 19 all-in-one desktop computers, 14 projectors, 15 printers and 15 backup hard drives.
Ahmad said the facilities would enhance both pre-service and in-service teacher training by promoting innovation, digital competence and learner-centred teaching approaches, while preparing educators for the demands of a technology-driven world.
The event also featured a national consultation on school safety and infrastructure security, with participants discussing strategies for creating safer and more inclusive learning environments.
The minister stressed that safe schools remain critical to achieving quality education, particularly for girls and other vulnerable learners, adding that the ministry would continue to prioritise policies and programmes aimed at strengthening school security.
She further highlighted the ministry’s focus on Technical and Vocational Education and Training (TVET), Science, Technology, Engineering and Mathematics (STEM), girl-child education, quality assurance, data management and digital transformation as key pillars for improving educational outcomes nationwide.
Ahmad also disclosed plans to implement new interventions aimed at empowering female teachers and school leaders in crisis situations through mobile-based learning platforms, as well as programmes designed to integrate out-of-school children into formal education.
She commended UNESCO-IICBA, the Government of Japan, the African Union and other development partners for supporting teacher education in Nigeria and urged beneficiary institutions to utilise the equipment responsibly to improve learning outcomes and build a more resilient education system.
“The equipment will enhance digital literacy among our pre-service teachers and boost the attainment of education goals in Nigeria,” she said.
In their separate remarks, the Director of the UNESCO International Institute for Capacity Building in Africa (IICBA), Dr. Quentin Wodon, and the Chargé d’Affaires of the Embassy of Japan in Nigeria, Hitoshi Kozaki, reaffirmed their commitment to supporting efforts aimed at improving teacher education and expanding access to quality learning opportunities across Nigeria and the West African region.
They noted that the donation of ICT equipment to the beneficiary colleges of education reflects the shared commitment of UNESCO, the Government of Japan and their partners to strengthening the capacity of teacher training institutions, particularly in the area of digital learning.
According to them, equipping teachers with modern technological skills is critical to improving learning outcomes and ensuring that education systems are responsive to the demands of the 21st century.
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