President Muhammadu Buhari has signed the Companies and Allied Matters Act, 2020 (CAMA 2020) to reform and improve Nigeria’s business environment
Finance
World Bank approves US$150mn for Kenya’s 1.7mn urban residents

The project will be implemented through institutional arrangements at the national level and county level. (Image source: Nina Stock/Pixabay)
The World Bank has approved US$150mn International Development Association (IDA) credit to improve tenure security and access to basic services for 1.7mn residents living in selected Kenya’s urban informal settlements
Sombank selects Temenos cloud technology for digital Islamic banking services in Somalia

Sombank focuses on rebuilding the country’s financial infrastructure by improving access to financial services throughout Somalia and beyond. (Image source: Money Bright/Flickr)
Sombank, a privately owned Islamic bank in Somalia, has selected the Temenos Islamic Banking solution in the cloud to accelerate its digital transformation and create innovative products to increase access to financial services in Somalia
Standard Chartered and Airtel Africa to drive financial inclusion

Mobile banking transfers between Airtel Money and Standard Chartered Bank are now live in Kenya, Tanzania, Uganda and Zambia. (Image source: WorldRemit Comms/Flickr)
Standard Chartered Bank and Airtel Africa have announced a strategic collaboration to drive financial inclusion across important markets in Africa by providing customers with increased access to mobile financial services
Nigeria’s ATI membership to help attract investments

Membership in ATI allows Nigeria to attract additional insurance capacity, thus boosting investment opportunities. (Image source: ATI)
President Buhari has signed the instrument of ratification to the African Trade Insurance Agency’s (ATI) treaty, thus finalising Nigeria’s membership in ATI in a process that began some years ago