DEAP Capital Management & Trust Plc has announced the execution of a Memorandum of Understanding (MoU) aimed at boosting its capital base and kick-starting a minerals and metals financing initiative across Africa, Dip Connect Online News reports.
In a statement filed with the Nigerian Exchange Limited on Tuesday by the company’s secretary, Osammor Otiono & Co, DEAP Capital said the MoU provides a framework to deliver financing, advisory and capital structuring solutions to operators across the minerals and metals value chain. The initiative is designed to support Africa’s participation in global supply chains driven by digitisation, energy transition, industrial manufacturing and advanced technologies.
The move follows a separate MoU executed between DEAP Capital and Banklink Africa Fund II, a fund managed by Banklink Africa Private Equities Limited. The agreement establishes a strategic investment framework to support DEAP Capital’s recapitalisation and long-term growth strategy.
According to the company, the proposed investment structures will help resuscitate and reposition DEAP Capital as a sector-focused, non-bank financial institution, with emphasis on minerals and mining, metals trading and project finance.
DEAP Capital noted that the MoU is expected to attract fresh capital, strengthen institutional capacity, and enhance governance and execution capabilities, positioning the firm to play a key role in mobilising capital for mineral projects in Nigeria and across Africa.
Commenting on the development, the Chief Executive Officer of DEAP Capital, Anthony Adigwe, described the MoU as a defining milestone in the company’s evolution as a specialised non-bank financial institution.
Also speaking, the Chairman of Banklink Africa, Dr Israel Ovirih, said the agreement would improve access to global capital for African businesses operating within the minerals and metals sector.
DEAP Capital added that the initiative is expected to enhance shareholder value while supporting the development of sustainable and bankable mineral projects across the continent.
Elijah Adeyemi
