Impact Fund Denmark is investing EUR 30m (DKK 224.1m) in Coris Holding, a leading West African bank, to support its ambition to expand financing for micro, small and medium-sized enterprises by 15 per cent annually.
Despite a growing need for finance, several international banks have exited West and Central Africa in recent years, choosing instead to concentrate on their primary markets and prioritise investments in countries with greater political stability and lower risk profiles.
Micro, small and medium-sized enterprises (MSMEs) account for up to 90 percent of Africa’s businesses, yet they face significant challenges in accessing finance. The departure of international banks has made access to finance even more scarce, while only around half of the population in the WAEMU region has access to a bank account or similar financial institution such as a credit union, microfinance institution or with a mobile money provider.
Leaving no one behind
Impact Fund Denmark is positioned to invest in high-risk markets, ensuring that poor and fragile states are not left behind. The investment is part of a broader joint commitment by the private equity firm, Mediterrania Capital Partners, and other European Development Finance Institutions: the UK’s BII, the Netherlands’ FMO and Belgium’s BIO.
With a strong focus on microfinance in one of the most financially excluded regions in the world, Coris Holding promotes financial inclusion and economic resilience by serving entrepreneurs and communities often overlooked by traditional banking. At the same time, Coris Holding is the largest tax contributor in Burkina Faso, making it a vital investment for local economic growth. This is crucial to building more just and inclusive societies, and a clear priority for us.
Expanding access to finance
Based in Burkina Faso, Coris Holding operates in 10 countries, four of which are fragile and conflict-affected. Planned expansions include Cape Verde, Gabon, Cameroon, Ghana and Madagascar.
The investment reflects Impact Fund Denmark’s core vision: Creating just and inclusive societies by advancing sustainable growth.
SVP, Communication & Marketing
Charlotte Holst Frahm
+45 41 38 12 42
