DEAP Capital Appoints Rutten As Chairman

DEAP Capital Management & Trust Plc has appointed Lamon Rutten as its chairman of the Board.

This follows the company’s recent 12th Annual General Meeting and subsequent inaugural Board meeting held on March 12, 2026 by the newly constituted Board.

In a statement signed by the acting Company secretary of DEAP Capital, Olamide Babawale-Mo, Rutten is a globally respected expert in commodity markets, structured commodity finance, and exchange development, bringing more than 30 years of international experience across Europe, Asia, the Middle East, and Africa.

He said, “Rutten previously served as pioneering chief executive officer of the Multi Commodity Exchange of India (MCX), also known as the Mumbai Commodity Exchange, where he led the exchange through a period of significant growth and quantum leap, establishing it as the world’s second largest commodity exchange.”

“Under his leadership, MCX achieved a landmark public listing valued at approximately $1.5 billion and a revenue of over $2.5 trillion by 2012.

He has also held several high-profile leadership and advisory roles globally, including serving as founding CEO of the Indonesia Commodity & Derivatives Exchange (ICDX) and playing a key role in the development of the Saudi Mining Exchange initiative.”

Speaking on the appointment, President of the Company, Dr Israel Ovirih, stated that Rutten’s extensive global experience in commodity markets and financial infrastructure development will be instrumental in guiding the Company as we build a world-class financing platform.

We are pleased to welcome Lamon Rutten as chairman of Deap Capital Management and Trust Plc. His extensive global experience in commodity markets and financial infrastructure development will be instrumental in guiding the Company as we build a world-class platform to finance and support the growth of the critical minerals sector across continental Africa.”

He stated further that Rutten’s global experience should enable the unleashing of new possibilities in the African metals and minerals space.

“The new chairman and his global experience should enable the unleashing of new possibilities in the African metals and minerals space, including bringing new thoughts on how to modern and formalise artisanal mining, specifically in Nigeria”

Speaking, the new chairman of DEAP Capital, Mr Rutten, stated that he appreciated the decision asking him to chair the new board.

“It is a new dawn for the African metals and minerals financing space; I appreciate my colleagues’ unanimous decision asking me to chair the new board, the future starts now,” he said

The Company disclosed that Rutten’s appointment further strengthens Deap Capital Management and Trust’s leadership as the company advances its mission of mobilising capital and building financial solutions to unlock Africa’s critical minerals potential, positioning the organisation as a strategic bridge between global investors and Africa’s emerging resource economy.