Nigeria’s Deap Capital rebrands as CMFC, targets Africa mining growth

Nigeria-based Deap Capital Management & Trust Plc has officially completed its transformation into Critical Minerals Financial Corp Plc (CMFC), marking a strategic shift toward mining, metals, commodities finance and investment across Africa.

The transition follows the receipt of all regulatory approvals and filings, positioning CMFC to capitalize on growing global demand for critical minerals used in clean energy technologies, electric vehicles and advanced manufacturing.

The company also announced the relocation of its headquarters to Victoria Island, Lagos, reinforcing its ambitions to become a leading player in Africa’s emerging critical minerals financing ecosystem.

Betting on Africa’s resource wealth

Speaking after shareholder approval at the company’s Annual General Meeting, Chairman Lamon Rutten said the rebrand reflects a broader vision to strengthen Africa’s position in the global commodities market.

According to Rutten, CMFC aims to support the full optimization of the continent’s minerals value chain, enabling African countries to capture more value from their natural resources rather than exporting raw materials.

“The completion of the transition to Critical Minerals Financial Corp Plc marks the beginning of an exciting new phase for the company,” he said.

The company’s renewed focus includes capital structuring, investment banking, project financing, transaction advisory services and project development support for mining and commodities stakeholders.

Fresh capital fuels expansion plans

CMFC’s growth ambitions are being supported by a significant recapitalization effort. Banklink Africa Private Equities Limited, the company’s new core investor, has injected approximately N6 billion ($44 million) into the business.

President and Co-Chief Executive Officer Dr. Israel Ovirih said the company is strengthening its governance, operational and financial frameworks as it prepares for expansion across Africa.

The funding is expected to help CMFC participate in large-scale mining and commodities transactions while leveraging strategic partnerships to unlock economic value and deliver sustainable returns to shareholders.

Building a Pan-African mining finance platform

Founded in 2002 and listed on the Nigerian Exchange as Deap Capital, the firm established itself as a leading investment and financial services company, offering fund management, portfolio management, capital market solutions and strategic advisory services to institutional investors and high-net-worth individuals.

Now operating as CMFC, the firm is positioning itself at the intersection of finance and natural resources, a sector increasingly attracting global investment amid rising demand for lithium, cobalt, copper and other critical minerals.

As Africa seeks greater control over its mineral wealth, CMFC’s transformation signals a growing trend among financial institutions moving to support the continent’s mining development and industrialization agenda.