Economy

DLM Capital acquires Links MFB, explores fintech opportunities

Published

1 week ago

on

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)

Short Link: https://wp.me/pcj2iU-3yFx

Related Topics:

NNN

NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Coronavirus – Gambia: COVID-19 update (April 15, 2021) Turkey bans payments with cryptocurrencies Coronavirus – Eritrea: Announcement from the Ministry of Health (April 15, 2021) Coronavirus – Zambia: COVID-19 update (April 15, 2021) Coronavirus – Nigeria: COVID-19 update (April 15, 2021) Rugby sevens match officials revealed for Tokyo Olympics 100 days to go Coronavirus – Ethiopia: COVID-19 update (April 15, 2021) The Qhubeka ASSOS team drawn for the Amstel Gold Race Avian flu: the association urges the government. increase surveillance Coronavirus – Kenya: COVID-19 update (April 15, 2021) Take advantage of police recruitment, commissioner urges Southeast youth Rugby Africa in discussion with Mariama Diallo, captain of the Senegalese women’s national team at 15 Kano Pillars FC unveil Super Eagles Cpt Ahmed Musa States, FCT generates N1.31trn as IGR in 2020 – NBS Coronavirus – South Africa: COVID-19 update (April 15, 2021) Group invests $ 500 million in cassava processing Sugar War: NGO urges FG to resolve dispute amicably EU-Africa green talks in Madrid: a green future for Africa COVID-19: FG reaffirms commitment to release eligible Nigerians Shun hate, division – Lalong to religious leaders Coronavirus – Rwanda: COVID-19 update (April 15, 2021) President Buhari revitalized – APC Pakistan blocks social media amid anti-France protests COVID-19: NCDC announces 80 new cases, now total 164,080 Banditry: Matawalle suspends his district chief Viral video: I’m not behind the rice distribution – Tinubu Executive Order 5: NACETEM creates a database of scientists and engineers – DG Lightning-fast and responsive – first details revealed of EOS R3, Canon’s latest professional mirrorless camera for sports and news Spanish La Liga / NPFL U15 football tournament begins in Enugu Amendment to electoral law: CSOs threaten to occupy NASS Police arrest doctor and 7 others for banditry in Zamfara FG identifies the causes of failure in the delivery of public services Ramadan: 8 people arrested in Kano for not having fasted Govt of Lagos. modernizes 56 roads, others on the island COVID-19: Nigeria vaccinates more than a million people, according to NPHCDA Nigeria reaffirms commitment to transition to net zero emissions Osun Community Road: Fashola speaks out on RCCG petition FG and IOM sign memorandum of understanding on the reintegration of migrant women and children Oyo Govt. partners with NEPC to boost food exports Buhari to department heads: hope your best will be good enough for Nigeria Rail Line: Lagos begins to compensate 263 people affected LASTMA GM denies online public inquiry FG and IOM sign memorandum of understanding on the reintegration of migrant women and children Inflation: LCCI urges FG to focus on supply-side constraints Ministry denies making payments for reconstruction of Ife-Ifewara road The council is committed to making the FRSC academy a diploma-granting institution COVID-19: Nigeria vaccinated more than a million people – NPHCDA IMO communities end female genital mutilation Sub-Saharan Africa needs 245 billion dollars in external financing in 5 years – IMF Lagos begins construction of the Agbado to Marina railway line