Mediterrania Capital Partners (MCP), a private equity firm focused on growth investments in SMEs and mid-cap companies across North and Sub-Saharan Africa, is pleased to announce a €100-million coinvestment in Coris Holding, the second largest banking group in the West African Economic and Monetary Union (WAEMU).
This landmark transaction, led by MCP, was executed alongside European Development Finance Institutions (DFIs) — FMO, the Dutch entrepreneurial development bank, British International Investment (BII), BIO from Belgium, and Impact Fund Denmark — reinforcing Coris Holding’s capital base to support its organic growth, regional expansion and M&A strategy.
Founded in 2008 by Mr Idrissa Nassa, the Coris Bank Group has established itself as a leading banking group within the WAEMU region. Operating under the Coris Bank International brand, the group is present in ten countries through subsidiaries in Burkina Faso, Côte d'Ivoire, Senegal, Togo, Benin, Mali, Guinea and Chad, as well as two branches in Niger and Guinea-Bissau.
With more than one million customers and over 2,200 employees, Coris Holding has built a business model strongly oriented towards SME/SMI financing. Its differentiation strategy is based on a customer-centric approach that prioritises client satisfaction and delivers personalised banking solutions tailored to individual needs.
Mr. Idrissa Nassa, Founder and Chairman of Coris Holding, said: “We are delighted to welcome Mediterrania Capital Partners and the DFIs as strategic 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.”
Albert Alsina, Founder and CEO of Mediterrania Capital Partners, added: “Financial inclusion is a cornerstone of Africa’s long-term development and a catalyst for entrepreneurship, job creation and improved living standards. This partnership with Coris Holding underscores our commitment to driving sustainable economic growth and promoting social progress across the region. The support of leading European DFIs further reinforces this shared vision, ensuring that capital is directed where it can generate lasting impact for businesses and communities alike.”
Maty Ndiaye, Managing Director for West Africa at Mediterrania Capital Partners, concluded: “Our mission is to empower entrepreneurs and strengthen financial institutions that drive inclusive growth. Coris has demonstrated its ability to support SMEs and expand access to finance across the WAEMU region, and we are proud to contribute to its next phase of growth.”
This co-investment reinforces Coris Holding’s role as a catalyst for financial inclusion in the WAEMU region. With less than 30% of the population holding a bank account in many of its markets, this capital injection will enable the Group to reach millions of unbanked and underbanked individuals, strengthen SME financing, and promote sustainable economic growth across Africa.
As part of this partnership, MCP will appoint a representative on the Board of Directors of the Company to support its governance, strategy execution and ESG implementation, contributing to the long-term resilience of the Group.
