IFC Invests in Summa to Boost Tourism and Urban Infrastructure Development in Sub-Saharan Africa

Washington, June 19, 2025: IFC signed a loan agreement with Summa Turizm Yatirimciligi A.Ş. (Summa), a Türkiye headquartered construction company, to develop tourism and urban infrastructure projects in sub-Saharan Africa, supporting job creation and economic growth.

The loan agreement forms a part of an IFC financing package of €50 million to help Summa with its working capital and cover capital expenditure needs for construction projects in select countries in Sub-Saharan Africa.  The combined projects across the region are expected to create more than 2,000 direct and indirect jobs by 2029, while Summa’s operations as a whole will lead to $225 million in economic value through direct, indirect, and induced effects.

 “We are pleased to have IFC’s support for Summa’s hotel and real estate developments in Senegal and across Africa,” said Selim Bora, Chairman of Summa. “We see this partnership as a foundation for broader collaboration in key sectors such as transportation, sports infrastructure, tourism, and energy—areas vital to the region’s sustainable development and economic growth—whereas Summa possesses a deep reservoir of expertise and a strong track record of delivery.”

“This investment demonstrates IFC’s commitment to supporting tourism and other urban infrastructure development in African markets,” said Ethiopis Tafara, IFC’s Regional Vice President for Africa, noting that “these types of investments are essential for driving sustainable economic growth and regional development.” 

Hela Cheikhrouhou, IFC’s Regional Vice President for the Middle East, Central Asia, Türkiye, Afghanistan and Pakistan added that “IFCs support of a cross-border investment by a Türkiye-based investor into Africa reflects our ongoing commitment to South-South investing.”

About Summa

Summa, since its foundation in 1989, constructs turn-key construction projects, such as airports, stadiums, congress centers, public buildings and housing projects, business and shopping centers, hotels, hospitals, industrial buildings and facilities, as well as the construction of motorways, dams, and other infrastructure networks, such as power transmission lines, pipelines, and land reclamation projects. The company operates successfully in 4 continents and 17 countries, with its main focus today in Africa. Summa has been consistently rated by ENR as one of the Top 200 Global Construction Companies.