Summa’s current ownership structure is as follows: Mr. Selim Bora owns 42.41% shareholding; Mr. Sinan Bora owns 41.22% shareholding in Summa respectively. The remaining shares are owned by Mr. Osman Ozkan at 10.00%, and Mr. Okan Sargin at 6.37%.

Approval IFC will provide an A Loan up to EUR50 million to finance the Project.

  The hotel will be located in Diamniadio, Senegal.

This is a Category B project according to IFC's 2012 Policy on Environment and Social (E&S) Sustainability. The proposed Project will have limited adverse E&S impacts that are few, site specific, largely reversible, and readily addressed through existing mitigation measures and good international industry practices (GIIP), including those reflected in the E&S Action Plan (ESAP) attached to this document. Key E&S risks and issues for this investment are (i) Summa’s capacity to develop and implement a corporate level EHS management system and cascade to project-level; (ii) E&S capacity and management systems to manage its construction and operations in line with IFC’s PSs; (iii) fair, safe and healthy working conditions in line with IFC’s PSs for construction projects and assets under operation with a focus on occupational, health and safety (OHS) and subcontractor management practices; (iv) approach to its own and third-party workers’ accommodation during construction and operation; (v) emergency preparedness and response plan, including life and fire safety (L&FS); (vi) on-site emissions, effluent and waste management systems; (vii) traffic and security management for the during construction and operation, and (viii) community engagement including a grievance mechanism for each construction and operation.