Mediterrania Capital leads €100m co-invest in WAEMU bank deal

Mediterrania Capital Partners has orchestrated a €100m co-investment in Coris Holding, the West African Economic and Monetary Union (WAEMU) region’s second-largest banking group, signaling rising private equity interest in West Africa’s financial services sector.

The deal brings together a slate of development finance institutions, expanding Coris Holding’s capital base to accelerate regional growth, SME lending, and strategic M&A. The consortium includes FMO, British International Investment (BII), BIO, and Impact Fund Denmark, each contributing to a platform designed for sustainable expansion and strengthened governance.

Coris Holding operates under the Coris Bank International brand and spans ten markets through subsidiaries in Burkina Faso, Côte d’Ivoire, Senegal, Togo, Benin, Mali, Guinea and Chad, plus two branches in Niger and Guinea‑Bissau. With more than one million customers and over 2,200 employees, its SME‑oriented lending model positions it to capture a sizable portion of the region’s credit demand as formal financial access expands.

Looking ahead, the transaction supports organic expansion, selective acquisitions, and the acceleration of digital banking initiatives to improve client experience and financial inclusion. As part of the arrangement, Mediterrania Capital Partners will appoint a representative to Coris Holding’s Board to strengthen governance, strategy execution and ESG integration across the group’s growth trajectory.

From a market perspective, Africa’s private equity activity has accelerated as investors pair capital with DFIs to de‑risk and scale financially inclusive platforms. In WAEMU, bank account penetration often remains below the level found in more mature markets, underscoring the strategic value of a digitally adept, SME‑focused banking group that can reach the underserved. This deal aligns with a broader push to support sustainable financial inclusion while delivering long‑term value for investors and communities alike.

As the partnership unfolds, Coris is well positioned to broaden cross‑border lending, deepen SME access to credit, and pursue measured growth across West Africa.