According to exclusive information from Financial Afrik, Coris Bank International has received an unfavorable opinion from the Central Bank of Mauritania (BCM) regarding its project to establish itself in this pivotal country between North Africa and West Africa. . In simple terms, the bank should provide additional information for the takeover of the Société Générale subsidiary in Mauritania. 

As a reminder, the banking group of Burkinabe origin signed an agreement with Société Générale last June with a view to purchasing its subsidiaries in Mauritania and Chad. The final transaction is subject to the approval of the authorities of both countries.

Concerning Mauritania, lobbyists close to certain businessmen have stepped up maneuvers aimed at blocking the way of Coris Bank International. An attitude at odds with the policy of openness advocated by  President Mohammed Ould Ghazouani who received the president of Coris Bank International a few months ago  .

The reluctance of businessmen, including certain bank promoters, to accept foreign competition constitutes a significant obstacle to the modernization of the financial sector in Mauritania. The country which has important relays of its banking network in the zone of the West African Economic and Monetary Union and in Guinea would benefit from opening its environment to African and pan-African investment which has become essential in the era of the Free Trade Zone. continental exchange.