Burkina Faso Banking Tycoon Idrissa Nassa Acquires TotalEnergies Burkina Faso

Burkinabe business magnate Idrissa Nassa has reportedly acquired TotalEnergies Burkina Faso, the country’s leading petroleum retailer, through his holding company, Coris Invest Group.

The move is an expansion into the energy sector for Nassa, who has built a reputation for transforming businesses across West Africa.

The acquisition was confirmed by Burkina Faso’s Ministry of Industry, Trade, and Handicrafts in an official statement.

According to the ministry, Minister Serge Gnaniodem Poda was briefed on the deal by a delegation from TotalEnergies, led by Mbacké Badara, the company’s head of business development for West Africa.

“We also came to inform him of the development of our portfolio across Africa and the conclusion of a commercial agreement with a major player in Burkina, the Coris Invest Group, for the sale of our assets in the country,” said Badara.

TotalEnergies Burkina Faso operates a network of approximately 170 service stations, selling fuel and related products while also providing solar energy solutions to low-income communities. Its subsidiary, Total Eren, develops solar projects for the national grid and mining operations.

Idrissa Nassa’s Growing Financial Empire

Nassa, the driving force behind Coris Bank International, has expanded his financial empire across West Africa.

Under him, Coris Bank has grown from a small local lender with $3 million in capital to a regional giant managing assets worth $9 billion. The bank now operates in Côte d’Ivoire, Mali, Togo, Senegal, Benin, Niger, and Guinea-Bissau.

In 2021, Nassa further expanded his banking network with the launch of Coris Bank International Guinea, which has quickly become a key player in supporting small and medium-sized enterprises (SMEs) in the country.

Investing in Mining and Infrastructure

Beyond banking, Nassa has also ventured into financing major mining and infrastructure projects across West Africa.

In 2024, Coris Bank provided a $100 million credit facility to West African Resources Limited for the Kiaka Gold Project in Burkina Faso, as part of a larger $265 million secured loan.

Through Nioko Resources Corporation, Nassa has also invested heavily in the mining sector, including a $47 million stake in Orezone Gold to support the development of the Bomboré gold mine—one of Burkina Faso’s largest mining projects.