Coris Bank Senegal, owned by Idrissa Nassa’s group to get $25 million for MSME lending 

Coris Bank Senegal, the Senegalese arm of Coris Bank International (Coris Bank), the Burkina Faso-based financial services group founded by banking tycoon Idrissa Nassa, is set to receive up to $25 million equivalent in euros in financing, subject to approval, from the International Finance Corporation (IFC) to expand lending to small businesses and underserved entrepreneurs across Senegal. 

The transaction, which is currently pending approval and expected to reach board consideration on June 24, 2026, is structured as an unsecured senior loan with a maturity of up to five years, including a grace period of up to 12 months.

Expanding access to MSME finance

The financing will be used to strengthen long-term funding for Coris Bank Senegal, enabling it to scale lending to micro, small and medium-sized enterprises (MSMEs), a segment widely regarded as underserved across the country.

At least 25% of the proceeds will be directed toward women-owned or women-led enterprises, reinforcing a targeted push toward more inclusive financial access in Senegal’s private sector.

The total facility includes $10 million from IFC’s own account, while the remaining $15 million is expected to be mobilized from other lenders, reflecting IFC’s broader role in crowding in private capital.

Blended finance structure and risk sharing

Subject to final approvals, the project will be processed under the MSME Finance Platform, supported by a pooled first-loss guarantee from the International Development Association Private Sector Window Blended Finance Facility.

The structure is designed to de-risk lending to smaller borrowers while increasing credit availability in markets where access to long-term funding remains constrained.

Closing Senegal’s MSME financing gap

IFC estimates that Senegal’s MSME financing gap stands at about $1.5 billion, equivalent to more than 7% of GDP. The new facility is expected to help narrow that gap by expanding credit availability and strengthening competition in MSME lending.

Beyond direct lending, IFC expects the project to generate demonstration effects across the financial sector, encouraging other lenders to expand similar financing models.

Coris Bank’s influence

Founded in 2008 in Ouagadougou by Idrissa Nassa, 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.  Its Senegalese operation began in 2016 as a branch before becoming a fully licensed subsidiary in 2018.

Today, Coris Bank International Senegal operates a network of 24 branches and serves more than 70,000 clients across retail, corporate, and SME segments. Its shareholder base includes the Government of Senegal alongside Coris Group entities such as Coris Holdings and Coris Bourse. The lender has also diversified into conventional banking and Islamic finance offerings as it seeks to broaden financial inclusion across the market.

IFC expects the transaction to improve financial inclusion and deepen MSME lending capacity in Senegal while supporting stronger governance and risk management standards within the banking sector. The project is also expected to generate broader market effects by encouraging replication of MSME-focused lending models across West Africa’s financial system.