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Idrissa Nassa has built Coris Bank International into one of West Africa’s fastest-expanding lenders, and Cameroon’s biggest banking shuffle in years is now on his radar.
Cameroon is moving toward finalizing an agreement to buy Société Générale’s majority stake in its local subsidiary, a step that would deepen the state’s control of Société Générale Cameroun and end the French lender’s long presence in the country. The government has said it plans to take the shares first, then transfer the bank to a new operator - a two-step approach that has turned the process into a high-stakes contest among regional buyers.
Nassa, the Burkina Faso banker who chairs Coris, is widely seen as one of the serious contenders waiting in the wings. Coris has been on an acquisition streak as European banks retreat from parts of Africa, and Nassa has marketed his group as a homegrown player with the capital and appetite to expand across borders. For Cameroon, that matters: officials want a buyer that can keep the bank stable, meet regulatory thresholds and continue lending to businesses that depend on it.
The structure of the deal has drawn unusual attention because the state is not just a referee - it is a shareholder and, through its preemption right, a gatekeeper to any takeover. That leverage has allowed Yaoundé to shape the timeline and, potentially, the identity of the eventual owner.
Société Générale has been selling or shrinking several African operations as it refocuses on core markets. In Cameroon, the bank’s local unit is a major employer and a heavyweight in corporate banking, making the transition politically sensitive. Government officials have presented the purchase as a way to protect jobs, maintain services and avoid disruption in a system where confidence can evaporate quickly.
Cameroon would give Nassa a deeper foothold in Central Africa’s CEMAC zone, complementing the group’s recent moves beyond its West African base. But it is not a one-horse race. Other regional banking groups have also shown interest, and Cameroon’s authorities have signaled they want competitive options.
