Trustco Group Holdings Ltd says Meya Mining Limited, in which Trustco holds a minority interest, has secured a US$25 million (about N$400 million) financing facility from Ecobank Sierra Leone Limited, supported by Ecobank Ghana Plc, as the company advances towards full commercial diamond production in Sierra Leone.
The agreement was signed on the opening day of the Africa Mining Indaba 2026 in Cape Town, South Africa. According to Meya Mining Limited, the facility will be deployed towards advanced diamond processing equipment, mining vehicles and supporting infrastructure under its 25-year exclusive mining licence in Sierra Leone’s Kono District.
Meya said shareholders have invested more than US$100 million to date in developing the resource and establishing the mine. The company said the financing represents a significant vote of confidence by a pan-African banking group in the quality, scale and long-term geo-economic potential of the Meya diamond asset.
According to Meya, the facility is expected to stimulate local supply chains by routing payments through Sierra Leonean accounts, while creating and sustaining more than 400 direct jobs, with over 90% of employees sourced locally.
The transaction is also expected to strengthen Sierra Leone’s position in the global diamond industry through traceable, responsibly mined stones and encourage further investment in beneficiation activities, including cutting and polishing.
Trustco said its exposure to Meya comprises an indirect equity interest and a loan receivable of approximately US$46 million, positioning the company as both a long-term stakeholder and a significant creditor with a direct economic interest in the sustainable advancement and commercialisation of the mine.
Trustco Deputy Group Chief Executive Officer Quinton Z van Rooyen said the financing marked an important milestone for the project.
“The decision by Ecobank to commit USD 25 million to Meya is a powerful external validation of what we have long maintained – that the Meya asset is of exceptional quality with multi-generational potential. For Trustco, as both equity holder and significant creditor, this facility de-risks the path to commercial production and brings us closer to realising the full value of our investment. It also sends a clear signal to the broader market that serious institutional capital is now flowing into this project,” van Rooyen said.
Trustco advised shareholders that the facility was not concluded at Trustco level and that the company has not approved the facility at board, shareholder, subsidiary or group level.
The company added that it has not provided any guarantees, sureties, undertakings, consents or security in respect of the facility, and that the transaction does not constitute a transaction requiring categorisation or approval under the JSE Listings Requirements.
Trustco Group Holdings Limited is a Windhoek-headquartered holding company with subsidiaries operating in the real estate, mining, insurance, micro-finance and education sectors.
