Coris Bank International is strengthening its role in financing small and medium-sized enterprises (SMEs), while expanding financial inclusion across 11 African countries. The pan-African banking group is scaling its operations through conventional banking, Islamic finance and digital solutions to broaden access to credit and financial services for underserved populations and the private sector.
Based in Burkina Faso, Coris Holding operates in the WAEMU region, Chad, Guinea, and Cape Verde, and continues its expansion in Central Africa. Its Islamic finance subsidiary, Coris Bank Baraka, present in nine countries, is committed to extending Sharia-compliant services to populations excluded from the banking system through a community-based strategy that broadens access to banking services in rural and urban areas. The group continues to demonstrate strong financial growth, driven by SME lending and private sector financing, with total assets exceeding 7 trillion CFA francs. This performance is maintained despite persistent structural financing constraints on the continent, where nearly 40% of SMEs in sub-Saharan Africa face a financing gap, representing a credit shortfall of over US$300 billion, according to estimates by the World Bank and the IFC.
““Today, we are fully committed to Islamic financial inclusion and financial inclusion in general through our Islamic finance products. This effort is already focused on several levels. First and foremost, it’s about our approach, particularly in terms of community engagement.
Ousseni Ilboudo Director, Islamic Finance Group, Coris Bank International Burkina Faso
Digital innovation is also accelerating the bank’s inclusion strategy. Through its MyCoris platform, Coris Bank is expanding access to banking and Islamic finance services via mobile and digital channels. According to the World Bank Global Findex, mobile money accounts in Sub-Saharan Africa have reached 33% of adults, the highest globally, highlighting the central role of digital finance in expanding access.
It must be said that we have no choice but to move toward digitalization. And at the Coris Group, we’ve implemented a system to address this. Today, most of our Islamic finance offerings are available digitally through an app we call My Coris. My Coris, which includes the Coris Bank Baraka division, integrates our Islamic finance offerings. So we are working—and continue to work—to develop and integrate other mechanisms to further ensure this inclusion, at least in financial terms.
Ousseni Ilboudo Director, Islamic Finance Group, Coris Bank International Burkina Faso
Beyond retail banking, Coris Bank’s support to the private sector remains a central pillar of its strategy, with a strong focus on SMEs, trade financing and local entrepreneurship across its markets. This positioning comes at a critical time for African economies, where access to credit remains one of the main barriers to business growth.
We’ve been recognized—as the bank with the greatest impact this year, at any rate. In other words, ICD is now acknowledging Coris’s efforts in financing the SME segment. And today, we can say that this is a truly well-deserved award, and we see it as more than just an award because it’s our efforts that have been recognized. These have been years of resilience, after all—years of raising public awareness—because it must be said that this particular segment of the business requires significant awareness-building given the unique nature of the activity.
Ousseni Ilboudo Director, Islamic Finance Group, Coris Bank International Burkina Faso
With expanding regional operations, strong balance sheet growth and an increased focus on SME and private sector financing, Coris Bank International is consolidating its role as a key driver of financial inclusion and enterprise development across Africa.
