Bank to leverage Nigeria’s Fintech market, acquires MFI

ADevelopmental Investment Bank, DLM Capital Group, has revealed plans to expand into Nigeria’s million- dollar fintech industry following its acquisition of Links Microfinance Bank.

The licence will give DLM Capital Group the mandate to operate small- scale banking services in Nigeria. This will also allow the successive introduction of its star digital lending brand, Sofri, in the second quarter of this year.

The acquisition, combined with the bank’s existing efforts, will position it to deliver even more value to the market.

DLM Capital Group’s acquisition of Links MFB represents both an entry into new businesses and complementary enhancements to the institution’s existing subsidiaries. The prospect opens new market opportunities for the bank on the African continent.

Also, the acquisition will enable the institution to exit its ‘ legacy bank’ visibility and work more closely with the fintech community to build its brand.

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. “This strategic acquisition represents another 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.