CAPE VERDE : Coris Holding acquires 100% of Banco Comercial do Atlântico for €82 million

(LVDE) — By acquiring Cape Verde’s leading commercial bank, Coris International Group, led by Burkinabè businessman Idrissa Nassa, has completed a major strategic transaction. The €82 million deal marks a new milestone in the pan-African expansion of a banking group that has become a key player on the continent.

In Praia, the announcement quickly spread through business circles. On Thursday, January 15, 2026, Caixa Geral de Depósitos, Portugal’s state-owned bank, officially confirmed the sale of its 59.81% majority stake in Banco Comercial do Atlântico (BCA) to Coris Holding. The transaction, concluded for €82 million and approved by the Central Bank of Cape Verde, gives the Burkinabè group full control of one of the archipelago’s most emblematic financial institutions.

For the seller, the deal generates a capital gain estimated at €19.3 million and significantly improves its prudential ratios, with a 40-basis-point increase in the CET1 capital ratio. It is part of Caixa’s international refocusing strategy launched after its 2017 recapitalization under the supervision of European authorities. Since 2020, the Portuguese bank had been seeking to exit BCA’s shareholding but had been unable to complete the sale under what it considered satisfactory conditions.

For the buyer, however, the operation carries far broader strategic implications. Under the leadership of Idrissa Nassa, Coris Holding is steadily building a pan-African banking group. After consolidating its footprint in West Africa, its entry into Cape Verde opens new prospects in a stable market closely connected to Europe, with strong potential in financial services, trade, and SME financing. The group aims to support local economic players, stimulate productive investment, and strengthen trade flows between the islands and the rest of the continent.

Despite the sale, Caixa Geral de Depósitos is not fully withdrawing from Cape Verde and will maintain a presence through Banco Interatlântico. At the same time, the Portuguese public bank continues to streamline its international operations, including the renewed process to sell its Brazilian subsidiary.

In an African banking landscape undergoing rapid transformation, this acquisition highlights the growing strength of regional groups now capable of executing large cross-border transactions. For Coris Holding, the takeover of Banco Comercial do Atlântico sends a clear signal of its ambition to become a benchmark banking player at the continental level.

Tressy Chouente