Deap Capital rallies on Banklink Africa deal to fund mineral expansion

Shares of Deap Capital Management & Trust Plc continued their aggressive rally on Wednesday, rising by nearly the daily 10% peak to hit ₦3.99 as investors reacted to a strategic pivot into the African minerals and metals financing sector.

The company’s stock has more than doubled in recent weeks, climbing from below ₦2.00 in December, as regulatory filings signal a major revitalisation of the investment banking boutique.

The primary catalyst for the surge is a newly executed Memorandum of Understanding (MoU) between Deap Capital and the Banklink Africa Fund II. The agreement establishes a strategic investment framework designed to strengthen Deap Capital’s capital base and trigger a fresh injection of funds.

According to the company, these proposed investment structures are intended to facilitate the “resuscitation and repositioning” of the firm as a resilient, sector-focused institution after a period of operational quiet.

Under the new initiative, Deap Capital will provide bespoke financing, advisory, and capital structuring solutions to operators across Africa’s critical minerals ecosystem.

The move positions the firm to play a central role in global supply chains linked to energy transition, industrial manufacturing, and advanced technologies. CEO Anthony Adigwe described the MoU as a “defining moment,” marking the company’s transition into a specialized, non-bank financial institution with a clear mandate to scale activities in metals trading and project finance.

The partnership with Banklink Africa Private Equities Limited is expected to enhance Deap Capital’s institutional capacity and strategic alignment. Dr. Israel Ovirih, Chair of Banklink Africa, noted that the deal opens a “new vista” for African businesses to access global capital more effortlessly.

Beyond mineral projects, the strategic discussions currently underway aim to strengthen governance and execution capabilities, which the company expects will significantly improve long-term shareholder value and market relevance.