DEAP Capital Management & Trust Plc has received a ₦1 billion deposit for shares from Banklink Africa Private Equities Limited, marking the first tranche of a ₦6.0 billion equity commitment aimed at repositioning the company within Nigeria’s capital market and the emerging mineral finance sector.
The investment follows a Memorandum of Understanding executed in December 2025. Both parties formalised the transaction on February 9, 2026, signing a Final Definitive Agreement during a ceremony at the Marriott Hotel, Ikeja, Lagos.
The ₦1 billion injection represents the initial phase of Banklink Africa’s broader ₦6 billion commitment. The remaining ₦5 billion is expected to be completed after DEAP Capital’s Annual General Meeting scheduled for March 10, 2026, subject to shareholder approval and regulatory clearances.
Meeting SEC Recapitalisation Threshold
With the first tranche now secured, DEAP Capital is positioned to meet the Securities and Exchange Commission’s recapitalisation requirements for a Tier 1 Issuing House licence, strengthening its regulatory standing in Nigeria’s capital market ecosystem.
Post-capitalisation, the company plans to relaunch operations under a renewed strategic mandate focused on mobilising private capital into critical minerals and rare earth sectors. The firm intends to begin operations in Nigeria before expanding across the African continent in the medium term.
Strategic Pivot into Critical Minerals
Chairman of DEAP Capital, Dr. Kenneth Olise, described the transaction as transformational, noting the rising global demand for critical minerals and rare earth elements.
“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,” he said.
DEAP Capital’s board includes Dr. Kenneth Olise (Chairman), Mr. Edmund Ani (Vice Chairman), Mr. Tony Adigwe (Managing Director), Mr. Joe Idudu, Mr. Joel Omole, and Dr. Joseph Asaolu.
Also speaking at the signing ceremony, Chairman of Banklink Africa Group, Dr. Israel Ovirih, framed the investment within a broader geopolitical shift.
“A century ago, crude oil acreage owners and nations controlled the world. Today, corporations and nations with access to critical minerals deposits including copper, lithium, cobalt, niobium and other rare earths will control the new world. DeapCap will lead Africa in this new revolution,” he said.
Capital Markets and Mining Convergence
The transaction reflects a growing convergence between capital markets and Africa’s mineral resource ambitions, as global supply chains increasingly pivot toward energy transition materials and strategic industrial inputs. With regulatory positioning nearly secured, DEAP Capital appears poised to anchor a new financing platform targeting the continent’s critical mineral value chains.
