• Coris buys Portugal state’s 59.81% stake in Banco Comercial do Atlântico

• Deal approved by Portugal and Cape Verde regulators

• Transaction expands Coris Holding’s African footprint to 11 countries

West African financial group Coris Holding, owned by Burkinabe businessman Idrissa Nassa, announced on January 16 it has acquired the full stake held by the Portuguese state in Banco Comercial do Atlântico (BCA), marking its entry into the Cape Verde banking market.

The stake, held by Portugal’s public bank Caixa Geral de Depositos (CGD), represents 59.81% of BCA’s share capital. The transaction was approved by Portugal’s Council of Ministers. The financial terms of the deal were not disclosed.

Completed on January 15, in Praia, the transaction also received approval from Cape Verdean authorities through the Central Bank of Cape Verde (Banco de Cabo Verde). Coris Holding said the acquisition aims to support Cape Verdean economic actors and strengthen trade between Cape Verde and the rest of the African continent.

Coris has also launched a public takeover bid, allowing BCA’s remaining shareholders to freely sell their shares, in line with Cape Verde’s market regulations. BCA is listed on the Cape Verde Stock Exchange.

A stronger presence in Africa

Coris Holding first announced the BCA acquisition project in March 2024, saying it had been selected to take over the Portuguese state’s stake, subject to regulatory approvals.

With the transaction now finalized, Coris Holding enters the Cape Verde banking sector and further expands its African footprint, where the group is now present in eleven countries.

Chamberline Moko