Nigeria’s DEAP Capital shines as Africa’s best-performing stock in January

For patient investors in DEAP Capital Management & Trust Plc, January 2026 has been nothing short of extraordinary. The Nigerian investment manager, listed on the Nigerian Exchange (NGX), delivered gains of nearly 400% in the first month of the year, a surge that has propelled the firm to the top of Africa’s stock performance charts. Its shares climbed from N1.9 ($0.00136) on January 1 to N9.39 ($0.00673) on Jan. 30, delivering a one-year return of more than 750% and boosting the company’s market capitalization to N14.1 billion ($10.1 million).

The rally was fueled by a combination of market appetite and strategic developments. Midway through January, DEAP Capital signed a memorandum of understanding with Banklink Africa’s Equity Fund II to finance minerals and metals projects across Africa. The agreement offers tailored financing, advisory, and capital-structuring solutions for energy transition, digitalization, industrial manufacturing, and advanced technologies. Investors responded positively, with about 117 million shares traded in the third week of January.

DEAP Capital reports mounting financial challenges

Founded in 2002, DEAP Capital has long offered fund and portfolio management, financial advisory, and issuing house services, catering primarily to high-net-worth individuals and institutions. The firm also acts as an issuing house in Nigeria’s capital market and provides leasing and project management services. Though largely controlled by state-owned AMCON, which held a 16.6% stake as of September 2025, DEAP has traditionally faced challenges.

Its audited financial statement for the year ending September 2025 reported a pre-tax loss of N28.8 million ($20,640) and an accumulated loss of N5.2 billion ($3.72 million), leaving shareholders’ equity in negative territory at N2.3 billion ($1.65 million). A portion of the company’s obligations to creditors, totaling N1.7 billion ($1.21 million), was converted to equity through the issuance of 1.499 billion shares at N1.35 ($0.000968) per share.

DEAP Capital leads African market rally

Despite these hurdles, the MoU with Banklink Africa appears to have reshaped investor sentiment. DEAP Capital’s management emphasized that the partnership is expected to strengthen the company’s capital base, support long-term growth objectives, and enable the firm to play a more active role in financing mineral projects across African markets. By structuring innovative investment solutions, the firm aims to position itself as a profitable investment banking boutique, capable of unlocking opportunities within Nigeria and across the continent.

Across the continent, DEAP Capital’s performance stands out. In January, four of the five best-performing stocks in Africa were Nigerian companies, with DEAP Capital leading the pack, followed by SCOA Nigeria (+345.07%), NCR Nigeria (+173.73%), and Omatek Ventures (+165.49%). The fifth was Tanzanian Maendeleo Bank (+156.95%). DEAP Capital’s rise highlights how strategic partnerships and investor confidence can reshape a company’s performance. Early 2026 gains rewarded long-term shareholders, showing that targeted deals and sector focus can influence market activity in Africa’s investment landscape.