DEAP Capital Strengthens Board with Global Commodities Expert, Others

DEAP Capital Management & Trust Plc has expanded its board with the appointment of Lamon Rutten, a globally recognised commodities and capital-markets executive, alongside three other directors as part of its strategic restructuring drive.

The company announced that Rutten, who previously led the establishment of the Saudi Mining Exchange and the Mumbai Commodity Exchange, joined the board effective February 17.

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With more than three decades of experience spanning commodity exchanges, structured trade finance, and market infrastructure development, Rutten has held several high-profile international roles. He served as Chief of Energy at UNCTAD before being seconded to help build India’s Multi-Commodity Exchange, where he served as joint managing director and chief executive. Under his leadership, the exchange expanded rapidly, becoming one of the world’s largest commodity trading platforms by turnover.

He later led the Indonesia Commodity and Derivative Exchange and also served as chief executive of the Saudi Mining Exchange. Rutten additionally sits on advisory structures linked to major investment groups involved in metals and resource assets.

In the same restructuring move, the firm appointed finance professional Israel Ovirih as a non-executive director. Ovirih brings decades of experience in banking, investment finance, private equity, and capital markets transactions. His boardroom exposure includes companies operating across the minerals value chain as well as institutions involved in structured finance and recapitalisation projects.

DEAP Capital also confirmed the appointment of Tope Oduseso, a seasoned banker and group chief executive of RichGreen Masters Group. He brings extensive experience in financial management, regulatory compliance, and corporate governance, which the firm believes will strengthen oversight at board level.

Francis Ekeng was also named a non-executive director. Ekeng is a business executive and entrepreneur with interests spanning telecommunications infrastructure, real estate, financial technology, and commercial asset development across several African markets. He is credited with pioneering telecom infrastructure expansion projects across the continent and recently launched a reward-technology platform operating within the financial ecosystem.

According to the company, the appointments come at a pivotal stage as it advances recapitalisation plans and positions itself as a specialised private-sector financing institution focused on mining and critical minerals development across Africa.

Chairman Kenneth Olise said Rutten’s global experience in commodity markets and infrastructure development would add strategic depth to the firm’s transformation agenda, particularly as it seeks to connect international capital with African resource projects.

Rutten, in his response, said Africa is entering a period of heightened global relevance due to demand for critical minerals linked to digital technology, clean energy, and industrial transformation. He noted that the firm’s strategy aligns with the continent’s emerging role in global supply chains and said he looks forward to supporting efforts to build a transparent and structured financing platform for mineral development.

The board changes follow a recent partnership agreement involving the firm and other financial institutions aimed at repositioning it as a dedicated funding platform for the mining sector.