Deap Capital Management & Trust Plc has appointed Mr. Lamon Rutten as Chairman of its board following the company’s Annual General Meeting on 12 March 2026.
He joined the board in mid-February 2026 as a director, after the company restructured and implemented operational changes to strengthen its goal of becoming a mineral investment banking boutique.
These efforts were accelerated by a N1 billion capital injection from BankLink Africa Group to support Deap Capital’s operations and its activities in Africa.
Mr. Rutten’s extensive experience in global commodities markets, including leadership roles at the Saudi Mining Exchange and the Multi Commodity Exchange of India, is expected to drive the company’s expansion and growth initiatives.
About Lamon Rutten
Lamon Rutten, a Dutch national, holds a master’s degree with honours in International Economic Management from Tilburg University and has over 30 years’ experience in commodity markets and financial infrastructure.
- He started his career at the United Nations Conference on Trade and Development as Chief of Energy, leading programs on structured trade finance, commodity risk management, and international market development.
- Following this, he helped establish the Multi-Commodity Exchange of India (MCX) as Joint Managing Director and CEO, guiding it through a period of growth and completing a $1.5 billion public listing.
While at MCX, he also contributed to creating NBHC (National Bulk Handling Corporation), India’s largest collateral management firm.
- From 2017 to 2022, he founded and led the Indonesia Commodity & Derivatives Exchange, overseeing operations and contributing to market development in Southeast Asia.
- He later served as CEO of the Saudi Mining Exchange and advised Ajlan & Bros Metal Corporation, which manages over $50 billion in assets.
Mr. Rutten has published research on commodity markets, trade finance, and risk management, and has provided advice to governments, multilateral institutions, and financial organizations internationally.
Get up to speed
In mid-January 2026, DEAP Capital Management & Trust Plc signed a Memorandum of Understanding (MoU) to launch a Minerals and Metals Financing initiative across Africa.
- About a month later, the company confirmed a N1.0 billion equity investment from BankLink Africa Private Equities Limited to support its expansion and operations.
- The MoU with BankLink Africa’s Equity Fund II is expected to strengthen DEAP Capital’s funding base and provide a framework for mineral project investments.
As part of its restructuring, DEAP Capital appointed Mr. Lamon Rutten as a board director, alongside Dr. Israel Ovirih, Chairman of BankLink Africa Group, Mr. Tope Oduseso of RichGreen Masters Group, and serial entrepreneur Mr. Francis Aniedi Ekeng.
What you should know
Deap Capital shares on the Nigerian Exchange have risen over 216% year-to-date as of mid-trading on 25th March 2026, with investor sentiment likely boosted by the company’s expansion plans.
- If these gains hold through the end of the first quarter, it would mark the company’s best-performing quarter ever, surpassing the third quarter of 2024, which posted a 134% increase.
- The stock’s daily high was N10.45 on 29th January 2026, while it is currently trading around a low of N6.
Commenting on the appointment, Dr. Israel Ovirih, President, said: “We welcome Lamon Rutten as Chairman, whose global experience in commodity markets and financial infrastructure will help guide the company’s growth.”
