By OLUSHOLA BELLO, Lagos
DLM Capital Group, has announced its plans to expand into Nigeria’s Fintech sector following its acquisition of Links Microfinance Bank.
The license will give DLM Capital Group the mandate to operate small scale banking services in Nigeria. This will also allow the successive launch of its digital lending brand, Sofri, in the second quarter of this year. The acquisition, combined with the bank’s many fintech efforts already underway, will position them to deliver even more value for corporates and consumers.
The company said its acquisition of Links MFB represents both an entry into new businesses and complementary enhancements to the institution’s existing subsidiaries.
DLM Capital noted that this prospect opens new market opportunities for the bank on the African continent, saying that the acquisition will enable the institution to exit its ‘legacy bank’ visibility and work more closely with the fintech community to build a ‘challenger bank’ brand that proffers innovative technological solutions for the Nigerian market.
Speaking to media in Lagos, the manager, Corporate Communications of DLM Capital Group, Chinwendu Ohakpougwu stated, “We are particularly excited about our acquisition of Links MFB and how it enhances the growth trajectory of our business.”
According to Ohakpougwu, this highly strategic acquisition represents another significant milestone for us on our journey as a resilient and well-capitalised financial institution with advanced scale and capacity to deliver sustainable and best-in-class financial services within the Nigerian market.
“We are confident that this decade will be bullish for Nigeria’s tech space and are ready to work with the fintech community in strengthening the solutions necessary to meet consumer needs.”
“DLM Capital Group prides itself as a foremost developmental investment bank in Africa and functions as sole arranger to more than 80 per cent of structured finance transactions in Nigeria with 100 per cent of all securitisation transactions in the market currently.
DLM Capital Group is a Developmental Investment Bank that provides innovative solutions to economic and social developmental challenges that impact the everyday lives of people. Since its inception, the bank has concentrated on creating markets, products, and long-term financing solutions to key sectors of the Nigerian economy that would benefit end customers to improve their well-being. The investment bank comprises of subsidiaries in bespoke corporate finance advisory, trustee, asset management, and securities trading arms, to sovereign/sub-sovereign entities as well as private and non-private corporations. The bank thrives on funding sectors of the Nigerian economy using innovative financing techniques, in particular, securitization and other structured finance techniques.