Idrissa Nassa’s Coris Bank International has completed the takeover of Banco Comercial do Atlântico (BCA), one of Cape Verde’s largest commercial lenders, marking its entry into the Cape Verde banking market.
The deal gives Coris full ownership of BCA, following the purchase of a 59.81% stake previously held by Portugal’s state-owned Caixa Geral de Depósitos.
The acquisition is intended to support local businesses, widen access to credit, and strengthen trade links between Cape Verde and other African economies.
Coris has launched a mandatory public offer to acquire remaining shares from minority investors, in line with Cape Verde’s capital market rules.
Founded in 2008, Coris Bank International has expanded steadily across West and Central Africa, operating in eight countries, including Burkina Faso, Côte d’Ivoire, and Senegal.
Under Nassa’s leadership, Coris has used acquisitions to broaden its footprint, including opening Coris Bank Guinea in 2021 and acquiring Standard Chartered’s retail operations in Côte d’Ivoire in 2023.
The group’s assets now exceed $9 billion, up from initial capital of about $3 million at launch. Coris recently secured a €10 million ($11.6 million) investment from Dutch development finance institution FMO, part of a €102 million ($118.43 million) round led by Mediterrania Capital Partners ².
