Idrissa Nassa’s Coris Bank secures $11.6m from Dutch lender FMO

Coris Bank International (Coris Bank), the Burkina Faso-based financial services group founded by banking tycoon Idrissa Nassa, has secured a €10 million ($11.6 million) investment from Dutch development finance institution FMO to support its regional expansion and strengthen its balance sheet, while existing shareholders retain operational control.

The funding forms part of a €102 million ($118.43 million) consortium round led by Mediterrania Capital Partners (MCP) and including DFIs such as BII, BIO, and IFU. 

A strategic consortium for long-term growth

In the WAEMU banking sector to date, the $118.43 million round represents one of the largest cross-DFI-led investments, with Mediterrania Capital Partners, a private equity firm which focuses on high-growth African financial institutions, leading the consortium. 

This recent move mirrors a broader pattern in African banking: regional champions attracting global DFI and private-equity capital to accelerate expansion, increase financial inclusion, and fill gaps left by international banks exiting certain markets. This signals strong confidence in Coris’ growth trajectory.

Coris Bank to expand WAEMU footprint

Participating DFIs bring both capital and technical expertise, requiring governance enhancements, risk management improvements, and adherence to international standards, a model increasingly common in high-growth African banks.

While commenting, Founder and Chief Executive Officer of Coris Bank International, Idrissa Nassa, said that partnering with FMO and the consortium allows Coris to accelerate our growth while maintaining a strong governance framework. “This investment validates our strategy of building a pan-WAEMU financial platform that combines local expertise with international best practices,” Nassa said.

The capital injection for the bank, which has built its presence through a combination of organic growth and selective acquisitions, focusing on retail banking, SME finance, and trade corridors in underserved markets, will support continued branch expansion, bolster lending capacity, and enhance digital banking infrastructure.

FMO, which co-invested €10 million, highlighted its development mandate: “Coris Bank demonstrates how scalable, locally rooted banking can drive financial inclusion, SME development, and regional trade — all critical to West Africa’s economic growth,” an FMO spokesperson said.

Coris Bank’s expanding influence

Founded by Idrissa Nassa in 2008, Coris Bank has rapidly evolved, with operations across Côte d’Ivoire, Mali, Togo, Senegal, Benin, Niger, Guinea-Bissau, and Chad. Before, Coris was a small Burkina Faso lender with just $3 million in capital, but Nassa steered the banking group into a regional powerhouse with over $9 billion in assets. 

Founder-led but increasingly institutionalized through external investors, the West African banking group now faces the dual challenge of scaling operations while maintaining prudent credit underwriting and regulatory compliance across ten jurisdictions.

If executed well, the consortium’s investment could cement Coris as a leading pan-WAEMU bank, a homegrown financial institution capable of competing with both local rivals and international players, while contributing to the region’s economic development.