By David Bangura
Sembehun, Moyamba District — The Managing Director of Ecobank Sierra Leone, Sebastian Ashong-Katai, has reaffirmed the bank’s strong commitment to supporting Sierra Leone’s mining sector, as Ecobank partners with Sierra Rutile Limited on the landmark Sembehun Area 5 project.
Speaking at the groundbreaking ceremony, Mr. Sebastian Ashong-Katai described the occasion as a proud milestone not only for Sierra Rutile but for Sierra Leone as a whole, marking another significant step toward unlocking the country’s mineral potential.
Ecobank Sierra Leone recently signed a major financing facility to support the development of the Sembehun Area 5 project. According to Mr. Ashong-Katai, the bank’s involvement goes beyond a conventional banking transaction.
“This commitment represents a vote of confidence in Sierra Rutile, in the mining sector, and in the future of Sierra Leone,” he stated.
He emphasized that Ecobank intends to stand by the company as it advances into its next phase of growth. The Managing Director noted that Ecobank was the first financial institution to structure and deliver a financing package of this scale for Sierra Rutile, underscoring the strength of the partnership. He further highlighted the significance of the transaction as a collaboration between a Sierra Leonean company and a Pan-African financial institution, facilitating capital goods from Kenya to Sierra Leone.
Mr. Sebastian Ashong-Katai stressed the importance of collaboration in driving sustainable development. He noted that partnerships between government, industry, communities, and financial institutions are essential to ensuring that large-scale projects deliver broad-based benefits. Through its financial support, Ecobank aims to help ensure that the Sembehun Area 5 project creates employment opportunities, empowers local businesses, and contributes to national revenues that support education, healthcare, and infrastructure development.
He also underscored Ecobank’s commitment to supporting projects that meet global sustainability standards, affirming that due diligence conducted by the bank confirms that the Sembehun Area 5 project meets these benchmarks.
Addressing the youth of Bagruwa Chiefdom, Mr. Sebastian Ashong-Katai encouraged them to prepare themselves for the employment and leadership opportunities the project is expected to generate. He urged young people to pursue education, develop relevant skills, and position themselves competitively for senior management and technical roles that will arise as the project expands.
The Managing Director acknowledged the collaborative efforts that made the financing possible, including the contribution of the transaction’s local legal counsel, Lambert & Lambert. He also commended the leadership of the Ministry of Mines and Mineral Resources and the National Minerals Agency for their continued oversight and efforts to strengthen the mining sector, thereby enhancing investor confidence.
Furthermore, he expressed appreciation to the people of Moyamba District and the communities of Sembehun for their partnership and support, noting that community engagement remains vital to the long-term success of the project.
“As we break ground today, this is not just about rutile; it is about building a stronger Sierra Leone,” Mr. Sebastian Ashong-Katai concluded. “Ecobank stands ready to continue supporting initiatives that drive inclusive growth, empower communities, and position Sierra Leone as a destination for responsible investment.”
Ecobank Sierra Leone congratulated the Board and Management of Sierra Rutile Limited on reaching the groundbreaking stage of the Sembehun Area 5 project and reaffirmed its commitment to supporting transformative investments that deliver lasting prosperity for the people of Sierra Leone.
