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Coca-Cola remains committed to its diversity, equity, and inclusion (DEI) initiatives, saying that neglecting these efforts could do more harm than good for its business. According to Business Insider, Coca-Cola’s annual filing states that fostering an inclusive workplace culture is “critical” to its growth and success. “Our diverse, high-performing global employee base helps drive a culture of inclusion, innovation and growth,” the company stated. “We aspire to develop a global workforce with diverse perspectives, experiences and backgrounds that reflect the broad range of consumers and markets we serve around the world.” Coca-Cola warned that failing to entice and retain this specialized top-tier talent could lead to negative consequences for its growth and future success. The company added that it remained committed to “providing access to equal opportunities and fostering belonging both in our workplaces and the local communities we proudly serve,” saying the opposite could...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. While President Donald Trump has delayed the tariffs on Canada and Mexico for another month, tariffs have already been imposed on China. Tariffs on China include a 10% tax, along with closing a loophole that helped boost China-owned brands like Temu and Shein. When a foreign shipment arrives, it goes through customs and gets inspected, and the importer has to pay an import tax depending on the size of the shipment. For almost a century, there’s been a loophole where small packages under a certain value would be exempt from that tax, called “de minimis.” Ten years ago, Congress expanded the exemption to include packages worth under $800. Stores like Temu, Shein, and Chinese drop shippers that sell on Amazon and the TikTok Shop have used the loophole to their advantage. The majority of retailers ship products in bulk to U.S. warehouses as they go through the traditional customs process. Shein and...
A scholarship that provided assistance to HBCU students will no longer exist. In 1992, the U.S. Department of Agriculture (USDA) created the 1890 National Scholars Program through a collaboration with 1890 land-grant universities, which refer to the 19 Historically Black Colleges and Universities (HBCUs) that benefited from resources established by the Morrill Acts of 1862 and 1890, according to Montana State University. The first act was established to ensure broader access to education in agriculture, military tactics, and engineering for the working class, and the second act provided further funding to include HBCUs. As for the 1890 National Scholars Program, it aims to increase representation at these schools by funding students, particularly from rural and underserved communities, i n food, agriculture, natural resource, and other related sciences, according to the USDA website. Recipients benefit from full tuition, fees, books, and room and board. Eligibility requirements...
Allow your money to work for you. Financial experts Carter Cofield and George Acheampong are bridging the gap in financial literacy among Black entrepreneurs and professionals. Through their platform, Melanin Money, they aim to close the $100 billion wealth gap and help their users achieve their first seven-figure net worth, its website notes. As AFROTECH™ previously reported, the platform launched as an e-commerce brand but scaled into a financial social network in 2017. It offers courses on personal finance, wealth building, and entrepreneurship led by educators. In 2024, these workshops reached 20,000 people. “We decided to create this hybrid educational model where every other month we’re basically doing a virtual conference where people who may be not in a position to hire an advisor or are curious if an advisor is right for them, they get to learn our top strategies over the course of five days,” Acheampong said on the “Black Tech Green Money” podcast, which AFROTECH™ Brand...
This year, Morehouse College’s A Candle in the Dark Gala shattered expectations, raising an unprecedented $6.8 million for scholarships that will directly impact the lives of current and future students. As one of the most prestigious fundraising events, the gala in Atlanta, GA, celebrates Morehouse’s legacy and its unwavering commitment to empowering young men and strengthening the community. Among the evening’s most compelling moments was the heartfelt address from Rashaun Williams, a Morehouse alum, investor, and philanthropist, who is a 2025 recipient of the Bennie Award and recognized as a Trailblazer. He spoke about the institution’s transformative role in his life. Williams, who has built a career investing in emerging businesses and supporting economic empowerment, credited Morehouse with stepping in when he needed guidance, structure, and a sense of belonging. “Morehouse was my first investor. You’re looking at the return on investment that you get when you invest in...
African fintech platform Mansa has secured new funding. Mansa, founded in 2023 by Mouloukou Sanoh (CEO) and Nkiru Uwaje (COO), enables seamless cross-border payments and instant transactions for its customers. Its offerings include competitive exchange rates, virtual card processing to support cash flow management, and automated matching of financial transactions to bank statements. This is made possible by leveraging a stablecoin infrastructure, its website mentions. “We’re starting by being the primary liquidity provider to the biggest payment companies across emerging markets,” Sanoh explained to TechCrunch. “From there, we can handle payouts and also offer additional services like foreign exchange. The goal is to create a one-stop payment platform where they can finance their payments, settle transactions instantly, and access foreign currency seamlessly — all in one place.” The inception of Mansa, based in Dubai, UAE, originated from Sanoh experiencing issues receiving money...
Floyd Mayweather reportedly has an interest in another major investment move. As AFROTECH™ previously told you, the boxing champion closed a real estate deal valued at $402 million in October 2024. The investment encompasses over 60 buildings with over 1,000 units in New York, NY, and its purpose is to establish affordable housing in the city. “Growing up, I used to dream about owning just one home by myself. When you work hard, you can achieve anything,” Mayweather told TMZ. Mayweather also has a stake in nine skyscrapers in partnership with SL Green and established real estate firm Vada Properties. He committed to investing $100 million in equity to support a $3 billion luxury rental portfolio alongside Go Partners. His latest moves include potentially extending his portfolio to secure a stake in the New York Giants. According to TMZ, he is leading a group that intends to acquire a security minority stake valued at 10%, amounting to around $700 million. Currently, a proposal is...
T-Pain is the next artist to cash in on his publishing and masters. Variety reports that the Grammy-award winning artist, who has secured 10 Billboard Hot 100-charting singles, sold his publishing catalog and select masters to HarbourView Equity Partners. It is unclear at this time which songs are included in the deal or how much the purchased price was. The announcement also coincides with the 20th anniversary of several T-Pain songs such as “Buy U a Drank (Shawty Snappin’),” “Bartender (featuring Akon),” “I’m N Luv (Wit a Stripper) (featuring Mike Jones),” Flo Rida’s “Low,” and “I’m Sprung,” among others. “I’m excited for this next chapter and to partner with HarbourView Equity as they help preserve the legacy of my music,” T-Pain said . “This catalog represents years of hard work, creativity, and unforgettable moments, and I’m grateful to see it continue to reach new heights. I don’t plan on stopping anytime soon.” HarbourView Founder and CEO Sherrese Clarke commented: “We are...
The power of representation led Omar Johnson to recognize his potential as a marketer in the technology sector. As AFROTECH™ previously told you, Johnson developed an interest in the field and discovered his passion for marketing. This motivated him to earn an MBA from Emory University in 2004, which paved the way for his career at Nike. He joined the company as an assistant brand manager in 2005 and, within two years, was promoted to content manager for advising and innovation. During his tenure at Nike, he was inspired by Trevor Edwards, who served as chief marketing officer before advancing to executive vice president of global brand and category management from 2003 to 2013. Edwards later became president of Nike Brand, a role he held until 2018. “One of my mentors, his name is Trevor Edwards, he was a president at Nike when I met him…Knew every part of the world that mattered when it came to culture and led this beautiful and big magnanimous way,” Johnson said on the “Black...
The right circle can change your circumstances in the blink of an eye! Calling all early-stage, pre-seed, and seed founders — join the AFROTECH™ Insider Founders Circle to build for the future alongside a network that could lead to your next investor or co-founder. This membership aligns with our mission to empower Black entrepreneurs with the tools to succeed and drive innovation across industries, including fintech, medtech, and consumer tech. “At AFROTECH™, we strive to help make a difference and change the narrative regarding raising capital, starting and scaling a startup, and networking with the right people to help grow your business,” Blavity Chief Revenue Officer Michael Hadgis said on LinkedIn. “We created the AFROTECH™ Insider Founders Circle to help founders navigate the path and their business pitch become investor-ready!” Perks The sky’s the limit! Your direct participation in the AFROTECH™ Insider Founders Circle gives you access to exclusive perks, including office...
MYAVANA is bringing its hair care technology to Africa. Candace Victoria Mitchell is the mastermind behind the company, which launched with a $1,000 investment and a vision to ensure improved hair health for Black women, as AFROTECH™ previously told you. “Originally, my ‘why’ was really to provide a more personalized approach for people to really be seen and heard in the beauty industry,” Mitchell said in an interview with AFROTECH™. “Because, at the time, there were not many products catered to women of color or textured hair. And it just felt like it was just a huge oversight, and we were just kinda out there figuring it out on YouTube. I feel that hair is deeply connected to our purpose and identity, especially in Black culture. So my ‘why’ was just deeply rooted in people understanding who they are and also having the technology that could cater to our personalized journeys.” Technologies released include MYAVANA HairAI, which provides a detailed hair analysis followed by...
Paula Wright has built an empire of McDonald’s restaurants, having made history at the start of the franchise era. According to MetroWest Daily News, Wright and her late husband, Don, became New England’s first Black McDonald’s franchisees in 1984. Before venturing into the fast-food industry, she had a career in technology at IBM. “A co-worker of mine, her husband was in the business,” Wright told the outlet. “That’s how Don and I got involved.” Their first location was in a newly built mall in downtown Boston, MA. However, the business did not fare well due to low foot traffic, with capacity never more than 60%. “There just weren’t enough people there,” Wright recalled to the outlet. The couple then secured a second location, but once again, sales did not match their expectations, which they believe was due to construction for TD Garden, a multi-purpose arena that opened in 1995. However, success would come when they moved into the suburbs. “We lived in Sudbury (MA), so when we...
Last week, Apple announced plans to launch the latest product in their long-running line of budget-friendly phones . The device, which many consumers tentatively titled the iPhone SE 4, is expected to release later this month, with a presale kicking off on Feb. 21. The initial announcement came jam-packed with surprises and updates, leaving Apple loyalists with plenty of new specs to pour over. If you’re interested in learning more about the iPhone SE 4, we’ve got you covered, with a brief but thorough deep dive into the latest Apple announcements , and a look ahead at what we can expect from the actual smartphone hardware. What Is The iPhone SE 4? The iPhone SE series dates back to 2016, when Apple execs decided to offer a budget-friendly alternative to their standard numeric line of smart devices. Unlike its contemporaries, including the iPhone 6 and iPhone 6 Plus, the SE would offer the latest in iOS services crammed into the outdated body of a previous model. While the device...
Beyoncé Knowles-Carter has done it again. Cécred The iconic entertainer, who earned her first Grammy in the prestigious album of the year category for “Cowboy Carter” in 2025, shows no signs of slowing down. Her influence stretches far beyond music and into the business world, where she has made a significant mark in the haircare industry. As AFROTECH™ previously reported, the Houston, TX, native launched the science-backed and self-funded haircare brand Cécred, drawing inspiration from her early years spent at her mother Tina Knowles’ salon. This venture highlights her entrepreneurial spirit and deep connection to the beauty industry. “Hair has always been a very big part of our lives,” Tina, who served as Cécred’s vice chairwoman, told Essence. “Just as fashion saved our family, hair is how we made a living.” The inception of Cécred was six years in the making. Its hair repair technology has led to its first line of products, which includes Clarifying Shampoo and Scalp Scrub...
Cherryrock Capital has raised $172 million to support diverse founders. The venture capital firm, founded in 2023 by Stacy Brown-Philpot (Managing Partner) — head of Alphabet Inc.’s online sales and operations in India and board member at HP Inc., StockX, and Noom Inc. — provides Series A and B funding to underrepresented founders of software companies driving innovation, according to its website. The VC firm, backed by a team with over 60 years of operating experience, has closed its first fund at $172 million, Bloomberg reports. “Today, I’m thrilled to announce the launch of Cherryrock Capital, the first fund focused on investing at the Series A & B stages in underinvested entrepreneurs …Cherryrock Capital is about being the foundation of success for the next generation of entrepreneurs…We’re on a mission to change the face of wealth creation and build an enduring institution. We are looking for founders who have the courage to be audacious in their vision, accountable to their...
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