By Aduragbemi Omiyale

A globally respected expert in commodity markets, structured commodity finance, and exchange development, Mr Lamon Rutten, has been appointed as the new chairman of the board of Deap Capital Management and Trust Plc.

Mr Rutten’s appointment is to further strengthen Deap Capital’s leadership as the company advances its mission of mobilising capital and building financial solutions to unlock Africa’s critical minerals potential, positioning it as a strategic bridge between global investors and Africa’s emerging resource economy.

The Dutch national brings to the board over three decades of international experience across Europe, Asia, the Middle East, and Africa.

Mr Rutten described his appointment as a “new dawn for the African metals and minerals financing space,” applauding the decision to make him the chairman of the board, which was newly reconstituted.

The president of Deap Capital, Mr Israel Ovirih, welcomed the new chairman to the fold, noting that his extensive global experience in commodity markets and financial infrastructure development will be instrumental in guiding the company as it builds a world-class platform to finance and support the growth of the critical minerals sector across continental Africa.

“The new chairman and his global experience should enable the unleashing of new possibilities in the African metals and minerals space, including bringing new thoughts on how to modernise and formalise artisanal mining, specifically in Nigeria,” he stated.

Mr Rutten is widely reputed as a pioneer in the development of modern commodity trading and financing infrastructure worldwide, having served at Chie of Energy at the United Nations.

He previously served as the pioneering chief executive of the Multi-Commodity Exchange of India (MCX), also known as the Mumbai Commodity Exchange, where he led the exchange through a period of significant growth and quantum leap, establishing it as the world’s second-largest commodity exchange. Under his leadership, MCX achieved a landmark public listing valued at approximately $1.5 billion and a revenue of over $2.5 trillion by 2012.

He has also held several high-profile leadership and advisory roles globally, including serving as the founding CEO of the Indonesia Commodity and Derivatives Exchange (ICDX) and playing a key role in the development of the Saudi Mining Exchange initiative.

Earlier in his career, he worked with the United Nations Conference on Trade and Development (UNCTAD), where he led an international programme focused on commodity risk management and structured trade finance.

Mr Rutten is also a prolific author and policy expert, having published numerous research papers and policy works on commodity markets, trade finance, and risk management, and has advised governments, multilateral institutions, and financial organisations on commodity market development.

By Adedapo Adesanya

Mouka Limited has announced a significant leadership transition, with the appointment of Mr Oladimeji Osingunwa as its new managing director, effective March 17, 2026.

This follows the resignation of Mr Femi Fapohunda, whose exit became effective on March 16, 2026, after a period of mutual agreement with the board of the mattress maker.

The board expressed deep appreciation for Mr Fapohunda’s impactful leadership and unwavering commitment to the organisation.

During his tenure, Mouka successfully navigated one of the most challenging economic periods in Nigeria’s recent history, demonstrating resilience, operational excellence, and sustained growth.

Under his guidance, the company strengthened its market leadership, expanded its market share, and reinforced its reputation as a trusted household brand.

“Femi’s steady and strategic leadership ensured that Mouka not only weathered economic headwinds but emerged stronger and more competitive,” the board noted, thanking “him for his invaluable contributions and wish him continued success in his future endeavours.”

Mr Osingunwa, a seasoned commercial leader and a respected figure within Nigeria’s manufacturing and FMCG landscape, has since stepped into the role for the next phase of the mattress maker.

He joined Mouka in 2016 as Chief Commercial Officer, where Mr Osingunwa has played a pivotal role in shaping the company’s growth trajectory and strengthening its market dominance.

Mr Osingunwa brings to his new role a wealth of experience spanning leading multinational organisations, including Cadbury Nigeria Plc (now Mondelez), SC Johnson, and Twinning Ovaltine.

His expertise cuts across commercial strategy, route-to-market development, brand building, and sales leadership, consistently delivering strong business performance and sustainable growth.

Mouka Limited traces its origins to 1959, when the Faiz Moukarim family established the Moukarim Metalwood factory in Kano, focusing on the production of furniture and iron beds. As part of a broader strategy to achieve backward integration and supply raw materials to the furniture and bedding industry, Mouka Limited was later founded in Lagos in 1972, specialising in the manufacture of flexible foam products.

By Adedapo Adesanya

Telecoms giant, Airtel Africa Plc, has said Mr Gopal Vittal would replace its chairman, Mr Sunil Bharti Mittal, who will step down after the company’s annual general meeting in July.

This development is part of the company’s succession plans, the telco said on Wednesday.

Airtel Africa is the continent’s subsidiary of India’s second-largest carrier, Bharti Airtel, where it operates in 14 countries on the continent, including Nigeria, its biggest market.

Mr Sunil Mittal has been the chairman of Airtel Africa since its listing on the London Stock Exchange (LSE) in 2019. The telco entered the African market by acquiring Zain Telecom in June 2010.

Mr Vittal, who is an executive vice-chairman of Bharti Airtel and a non-executive director of Airtel Africa, will become non-executive chairman of the subsidiary. Sunil Mittal’s son, Mr Shravin Bharti Mittal, will take on the role of deputy chairman.

“As deputy chair, [Shravin] Mittal will ensure continuity with the founding family and significant shareholder, and will be the board’s conduit with the Airtel Money Board, on which he serves, and with Airtel Africa’s headquarters in Dubai, where he is based,” said Airtel Africa in a statement to the exchanges.

Mr Vittal’s appointment is by nomination of the controlling shareholder pursuant to the terms of the relationship agreement dated June 17, 2019, between the company, Bharti Airtel, Airtel Africa Mauritius Limited, the majority shareholder and an indirect subsidiary of Bharti Airtel, and Bharti Telecom.

Airtel Africa hailed Mr Vittal as “an established telecoms leader who led Bharti Airtel to a lifetime high revenue market share in an intensely competitive market”.

The outgoing chairman noted that Ms Annika Poutiainen is stepping down as a non-executive director, and thanked her for her time at the company as “a strong advocate of high standards of governance and financial reporting.”

“At the same time, I want to extend my thanks to the board of Airtel Africa for their support to me as chairman,” Mr Mittal said.

“Airtel Africa has a solid strategy and an outstanding leadership team in place, the strength of which is evident in recent results, so I am confident that now is the time for me to step aside as chair. It has been an honour to lead Airtel Africa in this capacity, and I know the company will continue to prosper… I have offered my services and will be available to support the company as requested by the chair,” he said.