Burkina Faso’s Idrissa Nassa Acquires TotalEnergies Operations

Burkina Faso’s Idrissa Nassa, through Coris Invest, has acquired TotalEnergies (image source)

Burkina Faso’s energy landscape has entered a new chapter following the acquisition of TotalEnergies’ local operations by Coris Invest Group, led by prominent banker and businessman Idrissa Nassa. The deal, approved by the Ministry of Industry, Trade and Handicrafts, transfers control of the French multinational’s 170-station retail fuel network to one of West Africa’s most influential entrepreneurs.

TotalEnergies’ regional development head Mbacké Badara framed the exit as part of the company’s evolving African portfolio strategy. “This reflects our commitment to strategic partnerships and sustainable divestments,” he said, noting that the French major will maintain upstream and midstream investments elsewhere on the continent.

For Idrissa Nassa, best known as the founder of Coris Bank International, the deal symbolises more than corporate expansion. “This is an affirmation of our will to build economic sovereignty,” he declared, promising to safeguard all existing jobs and modernise the retail chain with solar-backup systems and enhanced customer services.

By acquiring a critical piece of Burkina Faso’s downstream fuel market, Nassa has positioned Coris as a homegrown champion in a sector long dominated by multinational oil giants such as Shell, Oryx, and TotalEnergies itself. Analysts see the move as a bold assertion of regional ambition, with potential ripple effects in neighbouring West African markets.

Public sentiment is cautiously optimistic. In Ouagadougou and Bobo-Dioulasso, consumers hope the acquisition will bring more consistent fuel availability, a persistent issue during supply bottlenecks. Some welcome the idea of a local business stewarding critical national infrastructure rather than foreign shareholders.

But others worry about concentration of market power. Labour unions and opposition figures have warned that sector consolidation could trigger higher pump prices unless regulators maintain strict oversight. “We support national ownership, but transparency on pricing and competition must not be sacrificed,” a union spokesperson said.

The transaction has raised concerns among smaller fuel retailers who fear Coris’s expanded footprint could squeeze margins and limit independent operators’ access to wholesale supply. Economists warn that unless the government enforces a level playing field, the downstream market could tilt heavily in favour of Coris, reducing consumer choice.

Still, Nassa’s team insists that their strategy is not about monopolisation but about raising service standards and integrating renewable energy solutions. Plans include expanding convenience-store offerings, installing solar-powered backup at service stations, and investing in logistics efficiency to reduce outages.

Beyond Burkina Faso, this acquisition underscores a broader trend of Africanisation of energy assets. As multinational giants reassess portfolios, African conglomerates are stepping in to secure strategic industries. For West Africa, it signals the rise of indigenous players with the capacity to manage large-scale infrastructure while aligning business goals with national priorities.

For Idrissa Nassa personally, the deal consolidates his reputation not only as a banking tycoon but also as an emerging energy magnate. Whether Coris can balance profitability with affordability will define how history judges this landmark acquisition.

As Burkina Faso grapples with economic pressures and political instability, fuel availability and pricing remain hot-button issues. Nassa’s pledge to protect jobs and expand services will be tested in the months ahead. For now, though, the acquisition is being celebrated as a turning point—one that places the country’s fuel lifeline more firmly in local hands.