Burkina Faso's Banking Tycoon Idrissa Nassa Takes Over Totalenergies' Operations
- Coris Invest Group acquires TotalEnergies' Burkina Faso assets, marking Nassas push into the petroleum sector.
- French energy giant sells its 170-station network to Coris Invest, as announced by the Ministry of Industry.
- Beyond banking, Nassa funds gold mining and infrastructure, including a 47 million stake in Orezone Golds Bombor project.
Burkinabe banking mogul Idrissa Nassa has reportedly acquired Total Energie in Burkina Faso, the countrys largest retailer of petroleum products. The deal, executed through Coris Invest Group, one of Nassas holding companies, is part of a broader expansion into the oil sector.
The Burkinabe Ministry of Industry, Trade, and Handicrafts announced the acquisition in a press release on Wednesday. However, Coris Bank International, the financial services provider led by Nassa, has yet to issue an official statement confirming the deal.
TotalEnergies sells Burkina assets to CorisAccording to the ministry, Minister Serge Gnaniodem Poda was informed of the acquisition by a delegation from the French company Total Energie, led by Mback Badara, its 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 company, for the sale of our assets in the country, Badara said.
Total Energie in Burkina Faso operates a network of about 170 service stations, selling fuel and related products while also providing solar energy solutions to low-income communities. Its affiliate, Total Eren, develops solar projects for the national grid and mining operations.