Coris Holding and Proparco Strengthen Their Partnership to Facilitate Financing for Ivorian SMEs

Proparco has just granted a senior loan of EUR 30 million to Coris Bank International Côte d’Ivoire (CBI CI). This operation will enable the bank to further increase Ivorian SMEs’ access to its financing lines.

This transaction is part of the French Choose Africa initiative, reflecting France’s commitment to actively support African entrepreneurship and the development of a dynamic private sector across the continent.

This financing follows the renewal of the Trade Finance guarantee granted last month by Proparco to CBI CI for an amount of EUR 19 million. Here again, the goal remains to support Ivorian SMEs facing difficulties accessing financing for their import and export needs.

Through this initiative, Proparco acts as a guarantor between issuing banks in Africa and confirming banks worldwide, thus securing essential trade transactions for food security, industrial growth, and economic resilience.

This program is a strong example of the efforts deployed by Proparco to support the emergence of Pan-African banking players, such as the Coris Group, who are gradually able to take over financing local economies across the continent.

Founded in 2008, the Coris Group now has ten subsidiaries, with Coris Bank International Côte d’Ivoire ranking second in total assets, after Coris Bank International Burkina Faso. It was with the latter that Proparco started a successful partnership in 2021 by signing a first Trade Finance guarantee, which has since also supported the Group’s subsidiaries in Senegal, Togo, Benin, and more recently Chad.

“Coris Group is actively pursuing its expansion across the African continent by consolidating its presence in countries where we are already established while exploring new development opportunities. We are particularly targeting Central Africa, with projects in Gabon and Cameroon, as well as West Africa, notably Cape Verde. We thus aim to strengthen our partnership with Proparco in the future, especially in international trade, to continue our commitment to African entrepreneurship and actively contribute to the development of sustainable value chains in support of inclusive and responsible growth across the continent,” said Idrissa NASSA, Chairman of the Coris Group.

“We are honored to strengthen our collaboration with Proparco today, a committed and trusted partner, through this new financing dedicated to Ivorian SMEs.
This support fully aligns with our ambition to actively contribute to the development of the national entrepreneurial ecosystem, a key pillar of our country’s inclusive and sustainable growth. SMEs play a central role in job creation, innovation, and economic transformation in Côte d’Ivoire. Thanks to this joint initiative, we reaffirm our commitment to offering them concrete, and accessible solutions to support their development. We greatly welcome Proparco’s determined action, through the Choose Africa initiative, and we look forward to combining our efforts to build, together, a prosperous future for Ivorian entrepreneurs and the economy of our continent,” said Abdoul Moumoune Younoussi, CEO of Coris Bank International Côte d’Ivoire.

“We are delighted to continue strengthening our partnership with Coris Bank International and proud to support the Pan-African ambitions of the Group. In just under four years, Proparco is pleased to have successfully partnered with six of its subsidiaries. Today, supporting the ambitions of its Ivorian subsidiary in SME financing echoes Proparco’s sustained and determined efforts through the Choose Africa initiative to facilitate access to economic opportunities and strengthen the resilience of local economic systems in Africa. SMEs are the beating heart of the Ivorian economy and a vital source of jobs for the country’s youth!” said Françoise Lombard, CEO of Proparco.