Ecobank Backs Meya Mining with USD 25 Million Facility
WINDHOEK, Namibia –Trustco Group Holdings Ltd (“Trustco”) confirms that Meya Mining Limited (“Meya”), in which Trustco holds a minority interest, has secured a USD 25 million (NAD 400 million) financing facility with Ecobank Sierra Leone Limited, supported by Ecobank Ghana Plc. The funding marks a significant milestone as Meya advances toward full commercial diamond production under its 25-year exclusive mining license in Sierra Leone’s Kono District.
The signing ceremony took place on the opening day of the Africa Mining Indaba 2026 in Cape Town, South Africa. According to Meya, the facility will be deployed toward advanced diamond processing equipment, mining vehicles and supporting infrastructure.
Meya’s shareholders have to date invested in excess of USD 100 million in the development of the resource and initial establishment of the mine. The financing represents a significant vote of confidence by a leading 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, creating and sustaining over 400 direct jobs with more than 90% of employees sourced locally, and strengthening Sierra Leone’s position in the global diamond industry through traceable, responsibly mined stones. The transaction is also expected to encourage further investment in beneficiation, including cutting and polishing, to maximise national value capture.
As previously disclosed, Trustco’s exposure to Meya comprises an indirect equity interest and a loan receivable of approximately USD 46 million. Trustco therefore remains both a long-term stakeholder in the project and a significant creditor with a direct economic interest in the sustainable advancement, value preservation, and orderly commercialisation of the mine.
Quinton Z van Rooyen, Deputy Group CEO of Trustco, commented: “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.”
Shareholders are advised that the facility has not been concluded at Trustco level. Trustco has not approved the facility at board, shareholder, subsidiary, or group level, and has not provided any guarantees, sureties, undertakings, consents, or security in respect thereof. The facility does not constitute a transaction by Trustco requiring categorisation or approval under the JSE Listings Requirements.
The full press release issued by Meya Mining and Ecobank is available for viewing at the following link: https://www.facebook.com/share/p/1F4B2GR4Tk/?mibextid=wwXIfr
Shareholders will be kept informed of any further developments that are price-sensitive or otherwise require disclosure.
