DEAP Capital Management & Trust Plc has strengthened its governance and strategic capability with a slate of high-calibre board appointments following its recent capital restructuring and recapitalization initiatives.
At the centre of the board refresh is the inclusion of Mr. Lamon Rutten, a seasoned global commodities and capital markets executive, as a Director. Mr. Rutten is best known as the founding CEO of both the Saudi Mining Exchange and the Mumbai Commodity Exchange, and brings more than three decades of experience in exchange development, structured commodity finance, and market infrastructure to DEAP Capital’s leadership.
Mr. Rutten’s appointment follows DEAP Capital’s strategic recapitalization, which saw Banklink Africa Private Equities Limited invest N1 billion to bolster the company’s financial footing and support its expansion in Africa’s minerals finance sector.
The board refresh also brought in leadership with deep regional finance and business expertise. Dr. Israel Ovirih, Chairman of Banklink Africa Group, joins as a Non-Executive Director, contributing decades of experience in finance, investment banking, structured finance, and mergers and acquisitions. His roles on several boards across the minerals and natural resource sectors are expected to complement DEAP Capital’s strategic direction.
In addition to Mr. Rutten and Dr. Ovirih, two other respected business leaders were appointed to the board. Mr. Tope Oduseso, Group CEO of RichGreen Masters Group, adds strong financial management, governance, and operational oversight experience, drawing on a long career in Nigeria’s financial services sector. Mr. Francis Aniedi Ekeng, a serial entrepreneur with experience in real estate, fintech, telecommunications, and asset management, also joins as a Non-Executive Director, bringing diverse commercial insight to the boardroom.
The appointments come as part of DEAP Capital’s broader strategic repositioning and recapitalization roadmap, which includes a memorandum of understanding with Banklink Africa to launch a Minerals and Metals Financing initiative across Africa. In mid-January 2026, this partnership was formalized and the N1 billion equity investment further solidified DEAP Capital’s capital base to pursue its strategic goals.
According to company statements, Mr. Rutten views Africa as central to the next global phase of natural resource development, especially in critical minerals essential for digitization and energy transitions. He has emphasised the firm’s opportunity to connect global capital with quality mineral extraction and development opportunities on the continent.
From a market perspective, the recapitalization and board changes initially drove a strong rally in DEAP Capital’s shares, which reached a high of N11.45 in late January 2026, representing significant gains for investors. However, shares have since moderated, offering a potential entry point for investors watching stock movements around these corporate developments.
Overall, these strategic board appointments reflect DEAP Capital’s intent to leverage global experience and regional expertise as it positions itself as a premier private-sector player in Africa’s minerals finance and investment landscape, combining international governance standards with local market insight.
