• BOAD approves CFA30 billion refinancing for Coris Bank units

• Funds to support lending, energy projects, and food security in Burkina Faso

• Move comes as Coris expands and BOAD scales up regional financing

The West African Development Bank (BOAD) has approved two refinancing lines totaling CFA30 billion—about $52.5 million—for Coris Bank International’s subsidiaries in Burkina Faso and Senegal.

The decision was announced during the bank’s 150th board meeting, chaired by Serge Ekué. The funding is aimed at strengthening liquidity at both subsidiaries and supporting the expansion of their lending activities.

Refinancing in Burkina Faso

Coris Bank International Burkina Faso will receive CFA20 billion. The funds are intended to support renewable energy access and help the National Food Security Stock Management Company (SONAGESS) finance food stockpiles for the 2025/2026 season, according to BOAD. The financing is expected to improve both energy and food security while expanding access to clean energy solutions for households and businesses.

Refinancing in Senegal

Coris Bank Senegal will receive CFA10 billion. The facility will allow the bank to scale up medium-term financing for productive investment projects, particularly targeting small and medium-sized enterprises and industries, while supporting its broader growth in the Senegalese market.

A steady regional expansion

The financing comes as Coris Holding, led by Burkinabe businessman Idrissa Nassa, continues to expand across Africa. The group is exploring entry into new markets, including Cameroon and Gabon, as part of a broader strategy to strengthen its regional presence through a mix of debt financing and capital consolidation.

BOAD, for its part, is planning a significant increase in its operations. Under its “Djoliba… The Next Phase” strategic plan, approved by the WAEMU Council of Ministers, the bank aims to nearly double its interventions between 2026 and 2030, targeting CFA6,500 billion in financing.

This expansion is backed by a solid financial position. As of the end of 2025, BOAD’s total assets stood at CFA5,363 billion, up 38% year over year, while its equity reached CFA1,780.5 billion, representing 33.2% of total assets.

Sandrine Gaingne