The company website is: «The Maritime Company of Burkina Faso “Sea’s arm” is the first burkinab’s private national flag. »…« maritime transport in West African hinterland space, as well as in the international one.» We further learn there that «The action of the head office is supported by the representations through the transit ports of Burkina Faso (Abidjan, Cotonou, Lom, Tma),» so this landlocked country has indeed some means of access to the high seas. Cofama seems to be active in shipping without having vessels of its own. Above is a flag based on the pic found on the site, presumably the house flag.
This design is clearly based on the national flag.