DEAP Capital Appoints Commodities Expert to Board
DEAP Capital Management & Trust Plc has appointed Lamon Rutten, former CEO of Saudi Mining Exchange and Mumbai Commodity Exchange, to its Board of Directors. This follows a N1 billion recapitalization by Banklink Africa Private Equities Limited to support operations. Dr. Israel Ovirih, Chairman of Banklink Africa Group, also joined as a Non-Executive Director, bringing expertise in structured finance and capital markets. Rutten's 30+ years in commodity finance and exchange development, including leading India's MCX IPO and ICDX, will strengthen DEAP Capital's minerals finance sector role. The appointments coincide with a Minerals and Metals Financing initiative signed with Banklink Africa in January 2026. DEAP Capital's shares rose 394% to N11.45 in late January but retraced 26% to below N7 in February, potentially creating a buying opportunity.