ECOBANK BACKS MEYA MINING WITH USD 25 MILLION FACILITY
Windhoek, Khomas, Namibia, 12th Feb 2026 – 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.
Meya Secures Diamond Financing
The signing ceremony took place on the opening day of the Africa Mining Indaba 2026 in Cape Town, South Africa. Meya plans to use the facility for advanced diamond processing equipment, mining vehicles, and supporting infrastructure.
Meya’s shareholders have invested over USD 100 million to develop the resource and establish the mine. The financing represents strong confidence from a leading pan-African banking group in the quality, scale, and long-term geo-economic potential of Meya’s diamond asset.
The facility is expected to stimulate local supply chains by routing payments through Sierra Leonean accounts. It will create and sustain over 400 direct jobs, with more than 90% of employees sourced locally. Additionally, it strengthens Sierra Leone’s position in the global diamond industry through traceable, responsibly mined stones. The transaction is also anticipated to encourage further investment in beneficiation, including cutting and polishing, to maximize national value capture.
Quinton Z van Rooyen, Deputy Group CEO of Trustco
Trustco’s exposure to Meya includes an indirect equity interest and a loan receivable of about USD 46 million. As both a long-term stakeholder and a significant creditor, Trustco has a direct economic interest in the mine’s sustainable advancement and orderly commercialization.
Quinton Z van Rooyen, Deputy Group CEO of Trustco, stated: “Ecobank’s commitment of USD 25 million to Meya validates what we have long maintained — the Meya asset is exceptional with multi-generational potential. This facility reduces risks on the path to commercial production and brings us closer to realizing our full investment value. It also signals to the broader market that institutional capital is flowing into this project.”
Trustco Clarifies Facility Status
Shareholders are advised that Trustco has not approved the facility at board, shareholder, subsidiary, or group level. The company has not provided guarantees, consents, or security in relation to the facility. Therefore, it does not constitute a transaction requiring categorization or approval under 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.
About Trustco:
Trustco Group Holdings Limited is a holding company headquartered in Windhoek, Namibia, that owns subsidiaries engaged in diverse business activities spanning the real estate, mining, insurance, micro-finance, and education sectors.
About Namibia
Namibia has a population of approximately three million and a GDP per capita of USD 4,413 in 2025 (IMF). The country is rich in natural resources, including oil, gas, lithium, and rare earth minerals. Green hydrogen projects are also underway. The Namibian government expects these developments to potentially double the nation’s GDP by 2040.
Namibia’s economy grew by 3.6% in 2025 and is projected to grow 3.8% in 2026 (IMF). The country offers attractive investment opportunities due to its resources, political stability, pro-business environment, and skilled workforce.
Forward-Looking Statements:
All statements made in this media release with respect to Trustco’s current plans, estimates, strategies beliefs and other statements that are not historical facts, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words or other similar terms or expressions. Such statements reflect the current views of management and are subject to a number of risks and uncertainties.
The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on these forward-looking statements. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
Company Details
Organization: Trustco Group Holdings
Contact Person: Neville Basson
Website: https://www.tgh.na
Email: Send Email
Contact Number: +264612754501
Address: 2 Keller Street, Trustco House
Address 2: Windhoek
City: Windhoek
State: Khomas
Country: Namibia
Release Id: 12022641277