DEAP Capital Management & Trust Plc (DEAPCAP) has received an additional ₦2 billion in capital injection from Banklink Africa Private Equities Limited, bringing the total funds received under a ₦6 billion funding commitment to ₦3 billion.
DEAPCAP announced this in a notice sent to the Nigerian Exchange Limited (NGX) on Thursday, April 2, 2026.
This marks the second tranche in a three-part capitalisation programme and sets the stage for the company’s next growth phase.
Under the agreed funding structure, Banklink Africa will release the remaining ₦3.0 billion tranche within 30 days, completing the ₦6.0 billion capitalisation plan.
The programme underpins DEAPCAP’s full transition to its new identity, Critical Minerals Financing Corp. Plc (CMFC), approved at the company’s 12th Annual General Meeting on March 12, 2026.
CMFC is set to operate as a specialised financial institution focused on supporting mining and mineral processing ventures across Nigeria and the African continent.
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Its core mandate includes financing, structuring, and facilitating projects in lithium, copper, rare earths, tin, zinc, and other energy transition minerals.
Commenting on the transaction, CMFC Chairman Dutch Lamon Rutten said, “We are excited at Banklink Africa’s total commitment to the Company’s transition into CMFC. There is a significant opportunity to build a specialist African platform focused on critical minerals at a time when global demand is accelerating.
“With such a committed investor group, CMFC will be positioned to originate, finance, and help develop projects across the African continent, connecting those opportunities with international capital, technology partners, and long-term offtakers.”
Rutten added that CMFC will operate “at the convergence of mining project finance, structured credit, commodity trading, capital market issuance, and ESG-aligned investment governance,” emphasising the company’s multidisciplinary approach.
Banklink Africa’s Chief Financial Officer, Joshua Adesoji, confirmed the firm’s commitment to the remaining capital injection.
He said, “We are pleased to have fulfilled this second tranche under our funding commitment to DEAPCAP. We remain committed to finalising the remainder within the next thirty days as DEAPCAP evolves into CMFC. The business is well-positioned to capture substantial opportunities within Africa’s critical minerals sector.”
Once the capitalisation and rebranding are complete, CMFC will deploy its resources and expertise to execute a pipeline of projects across Nigeria and, later, the broader African market, supporting both the development and commercialisation of critical mineral assets.
The injection represents a key milestone for the company, which aims to leverage its financial capacity to meet rising global demand for energy transition minerals, positioning CMFC as a specialist financier and project developer within the continent.
With the final tranche expected within the next 30 days, stakeholders are watching closely as CMFC moves to consolidate its position as a leading critical minerals financing platform in Africa.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
