Progress is often only seen as positive based on the sustainability measures associated with it, and many organizations have not kept their promises regarding diversity, equity, and inclusion (DEI). This abandonment informs many (DEI) advocates’ perspectives when explaining the recent rollback of DEI programs at large and small corporations. The removal of equity-focused programming is not new. According to a previous AFROTECH™ report, many companies that made commitments to DEI in 2020 after the murder of George Floyd have dialed back or cut programs. Now, Microsoft is among the big-name companies, specifically in tech, that have decided to eliminate their intentional strategies around DEI. The pervasive question to these cuts is “why?” According to Business Insider, it was due to “changing business needs.” “True systems-change work associated with DEI programs everywhere are no longer business critical or smart as they were in 2020,” a leader of the laid off DEI team wrote in an...

Michael Jordan, together with his eponymous Jordan Brand, has announced a new set of financial initiatives for Black excellence. In a press release announcement, it was revealed that they’ve issued grants to three renowned institutions: Morehouse College, a popular Historically Black College and University; Smithsonian Institution’s National Museum of African American History and Culture; and Ida B. Wells Society for Investigative Reporting. Jordan will be donating $3 million to the Smithsonian over the course of three years. He will be donating $1 million over two years to Morehouse, and he will be donating $1 million over two years to the Ida B. Wells Society. “Education is crucial for understanding the Black experience today,” says Michael Jordan in the press release announcement. “We want to help people understand the truth of our past, and help tell the stories that will shape our future.” Legendary director Spike Lee, a 1979 graduate of Morehouse College, said that Michael...

African Infrastructure Investment Managers (AIIM) has surpassed its funding expectation. AIIM was launched to “invest long-term institutional unlisted equity in African infrastructure projects,” its website mentions. The company’s investments extend across Eastern, Western, and Southern Africa, with $2.8 billion in assets under management. Now, AIIM will scale its work in light of reportedly raising $954 million, which comprises $748 million in commitments and $206 million in co-investments, Shoppe Black reports. Marking its fourth pan-African infrastructure fund, AIIM surpassed expectations by 50% with the backing of 29 investors from all over the world, such as pension funds, insurance companies, sovereign wealth funds, asset managers, and family offices, with half of the commitments coming from Development Finance Institution (DFI) investors. “Given the challenging global fundraising environment, we are delighted to have outperformed the targeted fund size. We received strong...

Post-secondary education (or higher education ) is the stage of learning that follows the completion of high school or secondary education. This level of education captures a range of institutions and programs designed to prepare individuals for personal and professional development and active contribution to civil society. Are you ready to pursue a new academic chapter? Post-secondary education is a big component for anyone planning to build an academic pathway and or a career, so let’s dive deeper into the pros and cons. Types Of Post-Secondary Institutions Post-secondary education includes various types of institutions, each offering different kinds of programs, degrees and credentials: Universities: Universities offer undergraduate and graduate programs leading to bachelor’s, master’s, and doctoral degrees. They provide a broad range of disciplines, from liberal arts and sciences to professional fields like engineering, medicine, and law. Colleges : Colleges, particularly...

At this point in your career journey, you might be ready for a mentor yet unsure of how to approach the topic. Knowing how to ask someone to be your mentor is a vital skill, as discovering a mentor is likely one of the most valuable choices you will make in your professional life . This applies to all fields, from professional basketball to web development to firefighting. The challenge is that approaching someone and asking them to act as your mentor is not a simple task. Even in the greatest of situations, requesting somebody to mentor you may feel awkward, especially since influential people are typically in high demand as mentors in their field , and successful people are also frequently the busiest. Asking Someone For Mentorship You must first be certain that this is what you want: what makes you desire to have a mentor? And, most importantly, why would you like to receive mentoring? Do you wish to pick up a new talent, or have you been struggling with certain issues at work?...

Now is the perfect time to begin planning to attend some of the many startup events already gearing up for 2024. These events can be a transformative opportunity for a growing business or an entrepreneur with an idea that has the potential to become something big. Startup events often bring together entrepreneurs, investors, industry experts, and innovators to discuss emerging trends, share knowledge, network, and showcase new ideas or products. These events typically feature keynote speeches, panel discussions, pitch competitions, workshops, and networking sessions. Registering early for 2024 events could be a smart financial investment , as many offer reduced prices for early commitments. This is especially true as many of these startup events are occurring in different cities worldwide. Below are some of the best startup events for those who want to take their business to the next level and make connections that will open doors to new opportunities and potential success. 1....

In June 2020, financial institutions nationwide committed a record-breaking $4.2 billion to racial equity. Nonprofits directly received $300 million, representing 51% of total donation volume that month. However just six months later, funding for racial equity fell to 5% of the donation share. Now three years later, while energy has further slowed, racial justice remains a top concern across demographics. We know nonprofits steered by Black leaders and people of color are best positioned to drive racial equity. However, it’s simply not enough for corporate funders looking to affirm their values to financially empower BIPOC leaders. To properly equip nonprofit leaders, financial institutions and other corporate funders must embrace a two-pronged approach of capital and capacity building. One of the most effective interventions in capacity-building for BIPOC-led nonprofits lies in technology. Seventy-four percent of nonprofits say digital transformation is a need-to or must-have, yet...

So, Who Killed Silicon Valley Bank? Despite all the indicators of incompetence on the part of a senior leadership team consisting of over 60% men and 60% white people, the “Andy Kesslers” of the world flocked to The Wall Street Journal’s opinion section. The op-ed entertained the classic argument that focusing on diversity, equity, and inclusion was distracting from the “real” business of running Silicon Valley Bank (SVB). How original and worthy of publication! Those who promote this idea seem oblivious to the fact that they are essentially admitting that homogeneous leadership teams are incapable of multitasking. If incorporating the perspectives of women, LGBTQ, and Black people is enough to cause a group of white men to fail in leading SVB, then they were not competent to manage a bank in the first place. So, let’s be clear — a focus and commitment to diversity is a strength and never a distraction. Research has shown that companies with diverse leadership teams are more likely...