The West African banking landscape is familiar a major turning point. The Coris Group has just finalized the acquisition of Banco Comercial do Atlântico (BCA), thus propelling the Burkinabe giant to Cape Verdean financial summit

The denouement is official. After a a rigorous competitive process started in 2023, the Portuguese public bank, Caixa Geral de Depósitos (CGD), has sold all of its participation, i.e. 59.81% of the capital of the BCA. Validated by the Council of Ministers of Portugal and the Central Bank of Cape Verde (BCV), the operation has was sealed this Thursday, January 15 in Praia.

By taking control of the first Bank of the country, the group founded by Idrissa Nassa, marks a decisive step in its expansion strategy. The objective is clear: to support emergence economic situation in Cape Verde by offering solutions adapted to local actors and, above all, to facilitate trade between the archipelago and the mainland.

The BCA being a historical institution listed on the stock exchange, Coris did not stop at this majority acquisition. In accordance with stock market regulations, the group has launched an Offer Public Purchase (OPA) in order to allow minority shareholders to sell their titles if they want to.

In its briefing note, the Coris Group welcomed the support of the Burkinabe and Cape Verdean governments, as well as that the diligence of the regulators of the BCEAO and the BCV in this strategic file for regional financial integration.