Financial services company DEAP Capital Management & Trust Plc on Wednesday announced the receipt of a N1bn deposit for shares from Banklink Africa Private Equities Limited, providing a significant boost to the company’s recapitalisation and strategic repositioning drive.
According to the corporate disclosure filed with the Nigerian Exchange Limited, the investment follows the Memorandum of Understanding executed between both parties in December 2025 and a Final Definitive Agreement at a formal signing ceremony held in Lagos on Monday.
The N1bn injection represents the first tranche of a total N6bn equity commitment by Banklink Africa and its partners. The second tranche of N5bn is expected to be completed following the company’s Annual General Meeting scheduled for 10 March 2026, subject to shareholder approvals and regulatory requirements.
The NGGOSSIPS reports that the Securities and Exchange Commission in January issued a circular mandating increased minimum capital requirements for players in the capital market. For a Tier 1 Issuing House, the SEC raised the MCR from N200m to N2bn, and a Tier 2 Issuing House is now expected to have N7bn as its MCR.
Highlighting the impact of the new funding on its recapitalisation drive, the company stated, “With the completion of this first tranche, DEAPCAP is positioned to satisfy the Securities and Exchange Commission’s recapitalisation requirements for a Tier 1 Issuing House licence, amongst others. Post-capitalisation, the company is expected to commence operations under a renewed mandate as Africa’s premier private-sector mineral finance institution, focused on mobilising private capital into critical minerals and rare earth industry segments, initially in Nigeria and, in the medium term, across the African continent.”
Commenting on the transaction, the Chairman of DEAP Capital, Dr Kenneth Olise, said, “The accelerating global demand for critical minerals and rare earths has redefined the strategic importance of mineral-rich economies. Africa cannot be left behind in this emerging era. This Banklink Africa investment is a watershed for DEAP Capital.”
The Chairman of Banklink Africa Group, Dr Israel Ovirih, added, “A century ago, crude oil acreage owners and nations controlled the world. Today, corporations and nations with access to critical mineral deposits, including copper, lithium, cobalt, niobium and other rare earths, will control the new world. DeepCap will lead Africa in this new revolution.”
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