Major Shift in African Industrial Finance as DEAP Capital Transforms into Mineral Finance Leader

LAGOS — In a groundbreaking move for the African financial landscape, shareholders of DEAP Capital Management & Trust Plc are set to convene this Thursday for a pivotal Annual General Meeting (AGM) aimed at redefining their business model. The agenda includes a proposal to transition from a traditional investment banking firm to the first major private-sector institution in Africa focused solely on mineral finance.

With a strong backing from affluent investors from Saudi Arabia, the UAE, and Europe, DEAP Capital seeks to address the significant funding deficit in Africa’s crucial minerals and rare earth industries.

Unlocking a $2 Billion Pipeline for Sustainable Projects

The newly structured organization has set an ambitious target: to mobilize $2 billion in private capital within the next two years. This funding is specifically earmarked for projects that facilitate the global shift towards sustainable energy, focusing on the extraction and processing of minerals vital for electric vehicles (EVs), wind turbines, and advanced telecommunications.

Unlike its previous strategies that emphasized raw mineral exports, DEAP will implement an integrated financing model that encompasses:

• Project Finance & Structured Credit: Offering specialized loans aimed at enhancing mining infrastructure.
• Beneficiation & Processing: Investing in local refineries to retain value within Nigeria and across Africa.
• Global Trading Linkages: Establishing direct trade routes between African mines and major global exchanges, including those in London and Hong Kong.

Assembling a “Dream Team” Board of Directors

To guide this visionary transformation, DEAP Capital has revamped its board of directors, bringing on board several influential figures from the global commodities and technology sectors. Subject to shareholder approval, the new leadership team includes:

• Lamon Rutten: A powerhouse in commodity exchanges, Rutten has previously led the Multi Commodity Exchange of India (MCX) to become the world’s second-largest exchange and was the founding CEO of the Saudi Mining Exchange.

• Dr. Israel Ovirih: A respected finance expert and Chairman of Banklink Africa Group, recognized for securing over $1 billion for Nigerian companies.

• Tope Oduseso: A seasoned banker with three decades of industry experience in Nigeria.

• Francis Ekeng: A serial entrepreneur with notable success in expanding telecom and fintech infrastructure across East and West Africa.

Strategic Impact: Transitioning from Raw Ore to High-Tech Powerhouse

The timing for this transformation could not be more opportune. As global supply chains evolve to reduce dependency on traditional monopolies, Africa — which harbors nearly one-third of the world’s mineral reserves — stands to emerge as a central player in the minerals market.

This initiative is widely viewed as a strong affirmation of Nigeria’s ongoing mining reforms. By creating “bankable” frameworks for mining projects, DEAP Capital aims to provide African enterprises easier access to global financial resources. This move promises to reposition the continent from a peripheral player to a vital hub in the global supply chain.

“This is about moving beyond raw mineral exports,” a company spokesperson remarked ahead of the meeting. “We are building the financial architecture that will power the technologies of tomorrow, from mobile phones to national defense.”

In summary, DEAP Capital’s bold shift toward becoming a leader in mineral finance marks a significant advancement for Africa’s industrial financing sector. The company’s innovative model and experienced leadership are set to redefine how minerals are financed and traded, unlocking the continent’s immense potential in the global marketplace.