Idrissa Nassa’s Coris Bank sets up Cameroon unit, awaits approval for market entry

Coris Bank International (Coris Bank), the Burkina Faso-based financial services group founded by banking tycoon Idrissa Nassa, has taken a fresh step toward entering Cameroon’s banking sector by incorporating its local subsidiary, Coris Bank International Cameroun (CBI CM), as it positions itself for expansion in Central Africa.

According to a legal notice disclosed, the new entity has been established as a public limited company with a board of directors and a share capital of CFA26 billion ($45.33 million). Headquartered in the Akwa district of Douala, the subsidiary is structured to offer a full suite of commercial banking services, including deposit-taking, lending, financing, investment activities, and payment solutions.

Leadership team appointed ahead of approval

The bank also plans to introduce Islamic banking services through a dedicated unit, signaling its intent to diversify offerings in a competitive market. Despite the incorporation, Coris cannot commence operations immediately. The lender must secure regulatory approvals from the Central African Banking Commission (COBAC) and Cameroon’s Ministry of Finance before launching activities.

Coris has already put in place the governance structure for its Cameroonian subsidiary. Alice Dakuyo Kaboré has been named chair of the board, while Lionel Wenceslas Ouedraogo Parengmanba will serve as chief executive officer. Ling Namou has been appointed deputy CEO.

Other board members include Iboudo Ablasse Wend-Gouda, Nassa Abdoul Aziz, Kouame Jean-Baptiste Patrick Ghislain, Mahamat Moustapha Masri, and Kotto Ndoumbe Samuel.

The appointments come months after the bank submitted its license application to Cameroonian authorities, underscoring its readiness to move quickly once approvals are granted.

Regional reforms support expansion strategy

Coris’s entry strategy aligns with new regulatory changes within the Central African Economic and Monetary Community (CEMAC). Since January 1, 2025, a single banking license framework has allowed banks licensed in one member state to expand into others within the bloc, subject to COBAC approval. Data from the Bank of Central African States (BEAC) shows that banks in Cameroon issued CFA1.92 trillion of the CFA3.01 trillion in new loans across the CEMAC region in the fourth quarter of 2025, representing roughly 64% of total lending.

The market is already dominated by pan-African banking groups, Moroccan subsidiaries, domestic lenders, and state-owned institutions. To gain traction, Coris will need to compete across corporate lending, digital banking, interoperable payment systems, and niche segments such as Islamic finance.

The Burkinabe lender already operates in Chad following its acquisition of Société Générale’s local business, giving it a foothold within the CEMAC region and potentially easing its expansion into Cameroon. As part of its operational preparations, Coris recently held discussions at its Ouagadougou headquarters on integrating the Cameroonian unit into Gimacpay, the region’s interoperable payment platform, an indication of its readiness to deploy digital and cross-border payment capabilities.

Cameroon offers scale but intense competition

Founded by Idrissa Nassa in 2008, Coris Bank has rapidly evolved, with operations across Côte d’Ivoire, Mali, Togo, Senegal, Benin, Niger, Guinea-Bissau, and Chad. Before, Coris was a small Burkina Faso lender with just $3 million in capital, but Nassa steered the banking group into a regional powerhouse with over $9 billion in assets.  

Coris is targeting one of Central Africa’s most competitive and active banking markets. Cameroon remains the region’s largest banking hub, driven by the size of its economy and lending activity.

For now, the lender has established the legal and governance framework for its Cameroonian entry. The next milestone will be securing regulatory clearance and transitioning from a licensed entity to a fully operational bank.