Economy

DLM Capital acquires Links MFB, explores fintech opportunities

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By Chinyere Joel-Nwokeoma

DLM Capital Group, an investment bank, acquired Links Microfinance Bank as part of its plan to expand into the country’s fintech sector.

DLM Capital Group’s head of corporate communications, Ms Chinwendu Ohakpougwu, said this in a statement Wednesday in Lagos.

According to Ohakpougwu, with the acquisition, DLM Capital Group now has the mandate to operate small-scale banking services in Nigeria, using cutting-edge technology.

“The acquisition, combined with the bank’s many fintech efforts already underway, will position it to deliver even more value to businesses and consumers,” she said.

Ohakpougwu said the group’s acquisition of Links MFB represents both an entry into new activities and complementary improvements to the institution’s existing subsidiaries.

According to her, this prospect opens up new market opportunities for the bank on the African continent.

“The acquisition will allow the institution to step out of its visibility as a“ legacy bank ”and work more closely with the fintech community to build a“ challenger bank ”brand that offers innovative technological solutions for the Nigerian market.

“We are particularly excited about our acquisition of Links MFB and how it enhances our company’s growth trajectory.

“This acquisition represents another important milestone for us as a resilient and well-capitalized financial institution capable of delivering sustainable financial services to the Nigerian market.

“We are confident that this decade will be optimistic for the Nigerian tech space and are ready to work with the fintech community to strengthen the solutions needed to meet the needs of consumers,” Ohakpougwu said.

DLM Capital Group is an investment bank with subsidiaries in corporate finance consultancy, fiduciary, asset management and securities trading as well as private and non-private companies.

The bank finances sectors of the Nigerian economy using, securitization and other structured finance techniques. (NOPE)

(NAN)

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