Table of Contents
Key Points
- Coris Invest Group acquires TotalEnergies' Burkina Faso assets, marking Nassa’s push into the petroleum sector.
- French energy giant sells its 170-station network to Coris Invest, as announced by the Ministry of Industry.
- Beyond banking, Nassa funds gold mining and infrastructure, including a $47 million stake in Orezone Gold’s Bomboré project.
Burkinabe banking mogul Idrissa Nassa has reportedly acquired Total Energie in Burkina Faso, the country’s largest retailer of petroleum products. The deal, executed through Coris Invest Group, one of Nassa’s holding companies, is part of a broader expansion into the oil sector.
The Burkinabe Ministry of Industry, Trade, and Handicrafts announced the acquisition in a press release on Wednesday. However, Coris Bank International, the financial services provider led by Nassa, has yet to issue an official statement confirming the deal.
TotalEnergies sells Burkina assets to Coris
According to the ministry, Minister Serge Gnaniodem Poda was informed of the acquisition by a delegation from the French company Total Energie, led by Mbacké Badara, its head of business development for West Africa.
“We also came to inform him of the development of our portfolio across Africa and the conclusion of a commercial agreement with a major player in Burkina, the Coris Invest group company, for the sale of our assets in the country,” Badara said.
Total Energie in Burkina Faso operates a network of about 170 service stations, selling fuel and related products while also providing solar energy solutions to low-income communities. Its affiliate, Total Eren, develops solar projects for the national grid and mining operations.
Idrissa Nassa expands Coris Bank across West Africa
Idrissa Nassa has built a reputation for transforming businesses. His leadership at Coris Bank International turned the lender from a local player into a regional powerhouse, with its capital soaring from $3 million to $9 billion. Coris Bank now operates across several West African countries, including Côte d’Ivoire, Mali, Togo, Senegal, Benin, Niger, and Guinea-Bissau.
In 2021, Nassa expanded Coris Bank’s footprint with the launch of Coris Bank International Guinea. The subsidiary has quickly established itself as a key player in Guinea’s banking sector, with a strong focus on supporting small and medium-sized enterprises (SMEs) that form the backbone of the country’s economy.
Nassa funds gold mining, infrastructure
Nassa’s influence extends beyond banking into major mining and infrastructure projects across West Africa. In 2024, Coris Bank took a key role in financing the Kiaka Gold Project in Burkina Faso, issuing a $100 million credit facility to West African Resources Limited as part of a larger $265 million secured loan. The funding marked a crucial step in pushing the project forward.
Through Nioko Resources Corporation, he has backed several ventures, including a $47 million stake in Orezone Gold earlier this year. The investment is helping to drive the development of the Bomboré gold mine—one of Burkina Faso’s most significant mining projects.
