Burkinabe tycoon Idrissa Nassa’s Coris Holding gets $115.7 million to boost banking in West Africa

Coris Holding founded by Burkinabe businessman Idrissa Nassa, has received €100 million ($115.7 million) in fresh co-investment from Mediterrania Capital Partners and a consortium of European development finance institutions to expand its operations across Africa.

This comes as Coris strengthens its position as one of West Africa’s top financial groups extending banking access to small businesses and underserved communities. The investment, led by Mediterrania Capital Partners, included participation from several European DFIs such as FMO, British International Investment, BIO from Belgium, and Impact Fund Denmark.

Driving Africa’s financial inclusion and growth

Albert Alsina, the CEO of Mediterrania Capital Partners, said the partnership aims to channel long-term capital into markets that need it most. “Financial inclusion is a cornerstone of Africa’s long-term development and a catalyst for entrepreneurship, job creation and improved living standards,” he said. “This partnership with Coris Holding underscores our commitment to driving sustainable economic growth and promoting social progress across the region.”

Nassa, who built Coris from a modest $3 million in capital into a financial group managing over  $9 billion in assets, welcomed the new investors as partners. “Their support will contribute to accelerating our growth ambitions, strengthen our regional presence and support our mission to deliver innovative and inclusive financial solutions to our customers across Africa.” he said.

Maty Ndiaye, Mediterrania Capital Partners’ managing director for West Africa, said Coris has demonstrated its ability to serve small and medium-sized enterprises (SMEs), a key segment for job creation and regional trade. “Our mission is to empower entrepreneurs and strengthen financial institutions that drive inclusive growth… and we are proud to contribute to its next phase of growth,” Ndiaye said.

Coris Bank supports SMEs, industry expansion regionally

Founded in 2008, Coris Bank has expanded rapidly under Nassa’s leadership establishing a strong presence in the West African Economic and Monetary Union (WAEMU). The group now operates in ten countries, including Burkina Faso, Côte d’Ivoire, Senegal, Togo, Benin, Mali, Guinea and Chad, with additional branches in Niger and Guinea-Bissau.

The new investment follows a series of partnerships to strengthen Coris Bank’s regional influence. In June, the lender secured a €30 million ($34.3 million) loan from Proparco, the private sector arm of the French Development Agency, to boost SME lending in Côte d’Ivoire.

Two months earlier, Coris partnered with Proparco again on a €7 million ($7.6 million) trade finance deal to help import essential raw materials for industries in Chad. Together, these deals highlight Coris Holding’s growing role in regional finance—not only as a bank but as a catalyst for Africa’s next phase of economic expansion.