Key Factors
- Coris Make investments Group acquires TotalEnergies’ Burkina Faso belongings, marking Nassa’s push into the petroleum sector.
- French power big sells its 170-station community to Coris Make investments, as introduced by the Ministry of Business.
- Past banking, Nassa funds gold mining and infrastructure, together with a $47 million stake in Orezone Gold’s Bomboré undertaking.
Burkinabe banking mogul Idrissa Nassa has reportedly acquired Complete Energie in Burkina Faso, the nation’s largest retailer of petroleum merchandise. The deal, executed via Coris Make investments Group, certainly one of Nassa’s holding firms, is a part of a broader growth into the oil sector.
The Burkinabe Ministry of Business, Commerce, and Handicrafts introduced the acquisition in a press launch on Wednesday. Nevertheless, Coris Financial institution Worldwide, the monetary companies supplier led by Nassa, has but to problem an official assertion confirming the deal.
TotalEnergies sells Burkina belongings to Coris
In response to the ministry, Minister Serge Gnaniodem Poda was knowledgeable of the acquisition by a delegation from the French firm Complete Energie, led by Mbacké Badara, its head of enterprise growth for West Africa.
“We additionally got here to tell him of the event of our portfolio throughout Africa and the conclusion of a industrial settlement with a significant participant in Burkina, the Coris Make investments group firm, for the sale of our belongings within the nation,” Badara mentioned.
Total Energie in Burkina Faso operates a community of about 170 service stations, promoting gas and associated merchandise whereas additionally offering photo voltaic power options to low-income communities. Its affiliate, Complete Eren, develops photo voltaic tasks for the nationwide grid and mining operations.
Idrissa Nassa expands Coris Financial institution throughout West Africa
Idrissa Nassa has constructed a status for reworking companies. His management at Coris Financial institution Worldwide turned the lender from a neighborhood participant right into a regional powerhouse, with its capital hovering from $3 million to $9 billion. Coris Financial institution now operates throughout a number of West African international locations, together with Côte d’Ivoire, Mali, Togo, Senegal, Benin, Niger, and Guinea-Bissau.
In 2021, Nassa expanded Coris Financial institution’s footprint with the launch of Coris Financial institution Worldwide Guinea. The subsidiary has rapidly established itself as a key participant in Guinea’s banking sector, with a robust give attention to supporting small and medium-sized enterprises (SMEs) that type the spine of the nation’s financial system.
Nassa funds gold mining, infrastructure
Nassa’s affect extends past banking into main mining and infrastructure tasks throughout West Africa. In 2024, Coris Financial institution took a key function in financing the Kiaka Gold Mission in Burkina Faso, issuing a $100 million credit score facility to West African Sources Restricted as half of a bigger $265 million secured mortgage. The funding marked an important step in pushing the undertaking ahead.
By way of Nioko Resources Corporation, he has backed a number of ventures, together with a $47 million stake in Orezone Gold earlier this yr. The funding helps to drive the event of the Bomboré gold mine—certainly one of Burkina Faso’s most important mining tasks.
