Trustco Group Holdings has confirmed that Meya Mining Limited, in which Trustco holds a minority interest, has secured a N$400-million financing facility from Ecobank Sierra Leone Limited.
The bank is supported by Ecobank Ghana.
In a statement issued on Wednesday, Trustco says the funding will support Meya’s move towards full commercial diamond production under a 25-year exclusive mining licence in Sierra Leone’s Kono District.
According to Trustco, the facility will be used for advanced diamond processing equipment, mining vehicles, and supporting infrastructure.
Meya shareholders have invested more than N$1.59 billion to develop the resource and establish the mine, the statement reads.
Trustco chief executive Quinton van Rooyen says Ecobank’s decision to commit funds to Meya is a powerful external validation of what the group has 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,” he says.
The financing is expected to stimulate local supply chains, create and sustain more than 400 direct jobs, with over 90% of employees sourced locally, Trustco says.
The group says this will strengthen Sierra Leone’s position in the global diamond industry.
Trustco says the facility was not concluded at Trustco level, and that Trustco has not provided guarantees, sureties, undertakings, consents, or security in respect of the transaction.
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