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Leo Stan @ 66: Africa’s Technology Miracle Child Comes Full Circle

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Leo Stan Ekeh.
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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.

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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.

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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.

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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.

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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.

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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.

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By Henry C. Ibeakolam writes from Abuja, Nigeria

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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Africa Prudential Unveils Digital Growth Strategy

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Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.

Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.

The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.

Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.

Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.

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According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth

Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.

Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.

“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.

She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.

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“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.

Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.

The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.

 

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IHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community

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Communications infrastructure company, IHS Nigeria, has donated business support equipment to empower people with disabilities within the Karonmajiji community in the Federal Capital Territory, Abuja. This is part of the company’s commitment to drive inclusive community development and sustainable livelihood support under its Project Empower initiative.

The equipment was distributed to beneficiaries during a ceremony held in the community on Monday, July 27. The initiative was conceived following a community needs assessment and is designed to empower active traders by providing them with business tools rather than cash grants, thereby strengthening their businesses and ensuring long-term economic impact and accountability.

Speaking at the event, Director, Sustainability, IHS Nigeria, Titilope Oguntuga, described the initiative as a reflection of the company’s commitment to advancing inclusive development by equipping persons with disabilities with the tools and opportunities needed to build resilient livelihoods.

She explained that rather than providing short-term financial assistance, IHS Nigeria adopted an asset-based approach by donating 50 pieces of business support equipment, including sewing machines, freezers, generators and hairdressing kits, to the selected beneficiaries.

According to her, the intervention is designed to create lasting value by supporting entrepreneurship, promoting self-reliance and strengthening household incomes, while contributing to the achievement of the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities).

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In his opening remarks, the Chief of the Karonmajiji Disabled Community, Alhaji Sulaiman Muhammed Katsina, represented by the Secretary of the Community, Alhaji Mohammed Dantani commended IHS Nigeria for its commitment to empowering persons with disabilities through practical and sustainable interventions.

He described the initiative as a demonstration of genuine partnership with the community and expressed appreciation for the company’s continued engagement with the Association, noting that the donation of the equipment was a significant investment in improving the livelihoods of persons with disabilities and would create meaningful economic opportunities for the beneficiaries and their families.

The event brought together traditional rulers, government representatives, leaders and members of the Karonmajiji Disabled Community Association, implementing partners, including Field of Skills and Dreams Vocational Technical and Entrepreneurship (FSD VTE) Training Institute and other community stakeholders, reaffirming a shared commitment to promoting inclusion and sustainable community development.

Project Empower reinforces IHS Nigeria’s commitment to advancing sustainable development through strategic partnerships that promote economic inclusion, strengthen community resilience and create opportunities for underserved communities.

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CIBN, ACAMB Push for Financial Inclusion, Women Empowerment

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The Chartered Institute of Bankers (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have enjoined banks to further deepen and prioritize financial inclusion, women’s empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners.

Both organisations made this call during a courtesy visit to the newly invested 24th President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, Ph.D, FCIB, as part of plans to congratulate him on his investiture as well as seek a stronger alliance between both bodies.

The visit followed Alabi’s investiture where he unveiled his “IMPACT” Vision, themed “Consolidating Our Local Impact, Enhancing Our Global Relevance.”

The vision rests on six pillars: Inclusion across geographic, gender, and generational lines; Membership growth and quality; Professionalism and ethics; Accountability; Competencies and skills development; Technology, automation, and innovation. Other areas of shared interest, include women empowerment, financial inclusion and literacy, as well as MSME clinics, all of which are top on his agenda.

Alabi explained that under him, the institute will be prioritising financial inclusion and women empowerment, because of its realisation that women  are often the primary financial managers and caregivers in families. Access to savings, micro-credit, and insurance acts as a safety net during crisis and allows them to significantly improve living conditions.

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He added that CIBN would be happy to drive joint knowledge sharing and exchange sessions with CBN and ACAMB across various platforms. “Educating the public through public awareness programmes, with ACAMB as the rallying point, is central to what we do,” he noted.

ACAMB President, Jide Sipe, who led the delegation, spoke in unison with the CIBN president, as he noted that, closing the inbalances in financial access help economies grow faster, reduces inequality, and encourages greater civic participation by all.

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