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Private equity firm Mediterrania Capital Partners has announced a €100 million co-investment into Coris Holding, the second-largest banking group in the West African Economic and Monetary Union (WAEMU) region.
This transaction was carried out in partnership with several European development finance institutions, including FMO (the Dutch entrepreneurial development bank), British International Investment (UK), BIO (Belgium), and Impact Fund Denmark.
Coris Holding, founded in 2008 by Idrissa Nassa and operating under the banking brand Coris Bank International, is active across ten African countries.
Its network spans subsidiaries in Burkina Faso, Côte d’Ivoire, Senegal, Togo, Benin, Mali, Guinea and Chad, as well as branches in Niger and Guinea-Bissau.
The holding company itself was established in June 2013 to oversee the group’s banking and financial operations.
Speaking on the investment, Idrissa Nassa, chairman of Coris Holding, commented that the group is pleased to count Mediterrania and the DFIs among its strategic partners.
He said the backing will help accelerate their growth plans, extend their regional footprint and further their goal of offering innovative and inclusive financial services across Africa.
In remarks, Albert Alsina, founder and CEO of Mediterrania Capital Partners, emphasised that financial inclusion is central to Africa’s long-term progress, serving as a driver of entrepreneurship, job growth and better living standards.
He added that the partnership with Coris Holding reflects Mediterrania’s dedication to sustainable economic growth and will channel capital into opportunities that benefit businesses and communities alike.
Further commenting, Maty Ndiaye, managing director for West Africa at Mediterrania, remarked that the firm’s mission is to empower entrepreneurs and reinforce financial institutions that foster inclusive growth.
She noted that Coris has proven its ability to support small and medium-sized enterprises (SMEs) and broaden access to finance across the WAEMU region, and Mediterrania is proud to contribute to the group’s next growth phase.
This move comes at a time when the need for greater financial inclusion and SME access to financing in West Africa — especially in the WAEMU zone — is recognised as a major economic challenge.
The partnership will likely support Coris Holding’s efforts to deepen its reach, boost regional operations and deliver on its mission to serve underserved markets with innovative banking solutions.
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