Business

DLM Capital acquires MFB license

DLM Capital Group, a developmental investment bank, has announced its plans to expand into Nigeria’s million-dollar 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 star 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. DLM Capital Group’s acquisition of Links MFB represents both an entry into new businesses and complementary enhancements to the institution’s existing subsidiaries. First, this prospect opens new market opportunities for the bank on the African continent. Also, the acquisition will enable the institution 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. The Corporate Communications Manager at 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.”

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