Home Business DLM Capital expands into Nigeria’s fintech sector, gets MFB license –

DLM Capital expands into Nigeria’s fintech sector, gets MFB license –

Naira currency: Ajami must go Naira currency: Ajami must go

A map of Nigeria

By Nkiruka Nnorom 

DLM Capital Group has announced plans to expand into the 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, according to the company, 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 it to deliver even more value for corporates and consumers.

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

Additionally, 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, the firm said.

Chinwendu Ohakpougwu, Corporate Communications Manager at DLM Capital Group, said: “We are particularly excited about our acquisition of Links MFB and how it enhances the growth trajectory of our business. This highly strategic acquisition represents another significant milestone for us on our journey as a resilient and well-capitalized financial institution with advanced scale and capacity to deliver sustainable and best-in-class financial services within the Nigerian market.”

All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Source link

related posts

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More