It's just a bit of African flavoring that kinda-sorta works in context. The opening line represents the sons and daughters announcing to their father that a lion has come, in reference to the new heir's birth and presentation. "We're going to conquer" is a little vague, but one could interpret it as all the animals putting their differences aside to see the kingdom's future ruler, besting their natural antipathy towards one another. The final line's probably the most awkwardly placed, but it could more or less reflect both the lions and their natural enemies coming out to join and celebrate the occasion. Singling out the leopard makes it look a bit clunky, but they gotta make the lyrics flow somehow.
If I recall correctly, I believe Zimmer mentioned in one of the Making Of videos or in "Pride of the Lion King" that the choral lyrics to the Stampede cue were also a bit vague and not entirely reflective on the actual situation, characters, or storyline. I think there was actually a page or a jpeg image containing that cue's actual lyrics on a Hans Zimmer-related website, but it's gone now. Would be nice to get a look over it.
For some extra lyrical enlightenment, here are some additional translations.
The lyrics for the choral renditions of Mufasa's theme:
Uzo libusa (You will rule)
Le lizwe (This land)
Uli buse kahle (Rule it with care)
Uzo libusa (You will rule)
Le lizwe (This land)
Le lizwe (This land)
The chant for when Simba chases after Rafiki(which would later be used for the chorus of Rhythm of the Pride Lands' "Lala," as well as adapted with different English lyrics for "Endless Night"):
We sangoma ngi velelwe (Oh, spiritual healer, I'm troubled)
We baba ngivelelwe (Oh, my father, I'm in pain)
We baba ngivelelwe (Oh, my father, I'm in pain)
The reoccurring Busa theme has a number of different variations for each of its appearances, but the chant "Busa le lizwe bo/Rule this land" is prominent in all of them. The suite-like arrangement for the Rhythm of the Pride Lands CD more or less showcases it in its fullest form.