(Ecofin Agency) - This is the holding company's first venture into the West African regional financial market. The successful fundraising, a sign of investor confidence, will help drive its growth and expand its strategic investments.

Burkinabé businessman Idrissa Nassa’s Coris Invest Group announced on February 4 it has successfully raised CFA20 billion ($31.6 million) through a private bond placement. This debut on the West African Economic and Monetary Union (WAEMU) financial market was met with strong investor confidence, with a subscription rate of 110%.

The funds will help Coris Invest Group accelerate its growth strategy and expand investments in high-impact strategic sectors. This success is largely due to the company’s solid credit rating from Bloomfield Investment, which assigned Coris an A- (low risk) for the long term and A2 for the short term, reinforcing its financial strength.

Since its launch in April 2019, Coris Invest Group has grown into a key player in West Africa’s financial landscape, with a diversified portfolio spanning insurance, finance, hospitality, real estate, and industry. The group is also making bold moves in the mining sector, currently acquiring an additional stake in UK-based Hummingbird Resources, which operates gold mines in West Africa.

Once finalized, this acquisition will give Coris Invest Group control over gold mining operations in Mali and Guinea through its subsidiary, Nioko Resources.

The company is also expanding its footprint in Francophone Africa with regulatory approval for a life insurance subsidiary in Côte d’Ivoire. With this new venture, Coris aims to tap into an underserved market, particularly among low-income and informal sector workers, further advancing financial inclusion in the region.