At Mining Indaba 2026, Ecobank Sierra Leone and Sierra Rutile Limited (SRL) unveiled a $40 million financing deal to relocate the Kwale Mineral Sands Processing Plant from Kenya to Sierra Leone, marking a new era of intra-African industrial cooperation. The move, anchored in the Sembehun Project, extends Sierra Rutile’s mine life by 14 years and reinforces Africa’s ability to retain value and expertise on the continent.
“This is more than a financing deal, it’s a blueprint for how African institutions can lead complex cross-border industrial projects. By combining capital, logistics, and local expertise, we are proving that Africa can execute world-class projects domestically, while reducing dependence on foreign actors,” said Sebastian Ashong-Katai, Managing Director of Ecobank Sierra Leone.
The Sembehun Project secures a critical node in the global rutile and titanium supply chain, serving aerospace, medical and advanced manufacturing sectors. Using a “reuse and relocate” strategy, the project repurposes high-quality industrial assets from Kenya, cutting capital costs, accelerating timelines and reducing carbon emissions, a practical demonstration of AfCFTA in action.
“This partnership enables a capital-efficient transition to Sembehun and demonstrates the maturity of Sierra Leone’s mining and financial sectors. It reflects the capacity of African financial institutions to support sustainable, high-impact mining projects,” said Lima Sufian-Kargbo, CEO of Sierra Rutile.
Fully Sierra Leonean-owned since 2024, Sierra Rutile is now leading the continent in combining industrial sustainability, regional integration and financial sovereignty. Ecobank’s involvement showcases how pan-African financial institutions can help retain economic value, build local expertise and transform Africa into a self-reliant player in global critical minerals and mining markets.
