The Burkinabe bank Coris Bank International has granted two credit lines totaling four billion CFA francs to two local companies specializing in the manufacture of professional clothing. The objective: to support local production and Burkinabe know-how.
Two agreements were signed on Tuesday at Coris Bank’s headquarters in Ouagadougou with Pallium Group and Black Mode 226, Burkinabè companies each benefiting from financing of two billion FCFA, according to a statement from the financial institution.
These credits are intended to enable the two companies to finance their investments, increase their production capacities, and develop their activities in an evolving market.
The two companies are notably engaged in the manufacture of professional attire, particularly within the framework of partnerships with TEXFORCES, a Burkinabè state-owned company. Created to locally process Burkinabè cotton, TEXFORCES-BF embodies the government’s desire to capture added value on national soil and to dress the defense and security forces in uniforms made in Burkina Faso.
The Chairman and CEO of the Coris Group, Idrissa Nassa, praised the activity of the two companies and reaffirmed his group’s willingness to support local entrepreneurship and the development of an endogenous economy.
For his part, the promoter of Black Mode 226, Abdoul Ben Isaac Compaoré, presented this financing as an encouragement to pursue his efforts in favor of local production and job creation.
This operation comes in a context where the Burkinabe authorities are highlighting local processing, the promotion of national products, and the strengthening of the country’s economic autonomy.
By financing companies that transform Burkinabe cotton into finished clothing, Coris Bank is directly contributing to the industrialization strategy driven by the Popular Progressive Revolution.
This partnership illustrates the complementarity between the national financial sector and local businesses, in the service of a common ambition: to make Burkina Faso a country that produces, transforms, and consumes what comes from home. A dynamic that, if it continues, could sustainably transform the national economic fabric.
