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Abbianca Makoni

NYSE-listed e-commerce platform Jumia experienced a drastic change in shopping habits across its markets in Africa last year, as more shoppers bought everyday products as opposed to electronics. According to a newly released Jumia Africa E-commerce Index 2021 report – consumables were in demand across the African continent during the series of lockdown. Shopping for essentials such as foodstuff, fashion, and beauty products saw Jumia’s total sales value of Fast-Moving Consumer Goods grow by 13 percentage points last year, from 44% in 2019, the report said. The report also added that

Marcy Venture Partners, the venture firm co-founded in 2018 by Jay-Z, has just closed its second fund with $325 million in capital commitments. The firm describes itself as having a “consumer, culture and positive impact” investment strategy. The team has so far written checks to at least 21 companies, including Rihanna’s lingerie company Savage X Fenty. Earlier this year, they also began investing in crypto projects, supporting Bitski, a San Francisco-based startup NFT marketplace, and investing more recently in spatial LABS (sLABS). This tech incubator focuses on metaverse and blockchain-based

Florida A&M University has received a $100,000 grant from Wells Fargo to launch a small business incubator to assist women and minority-owned businesses. The grant will advance hiring initiatives for a program manager to oversee operations of the incubator and modernize an existing location for entrepreneurs to call home. Funding will also enable the incubator’s staff to support program participants in exploring the feasibility of their business concepts, launching, expanding, and scaling their businesses. The remaining funds will support future marketing and promotions throughout the development of the project. The

A recent study conducted by LendingTree revealed that North Carolina is the best state to start a business in, but California is considered the worst. It’s important for founders – particularly those of color – to pick the right place to start their business as it can potentially make or break their startup. The Lending Tree study scored the 100 largest US metro areas by population based on factors like the proportion of residents who hold a bachelor’s degree, state corporate tax rates, and local housing costs. Of course –

Vendease, a digital marketplace that allows food businesses to buy supplies straight from manufacturers and farms, has successfully raised a seed round of $3.2 million. When a restaurant places an order, the firm’s system generates all the possible suppliers that can fulfill it. It then looks at the best pricing versus quality and assigns that order to the supplier. According to the company, founded by Tunde Kara, delivery is made within 24 hours, either by itself or by a third-party logistics provider. This is a huge milestone for the company.

A Black veteran has developed an app, Anjel Tech, that could help track racial incidents and contribute to helping find missing people of color using live stream video and location sharing capabilities. Anjel Tech, founded by James Samuel, Jr, sends information to loved ones in real-time – providing them with the exact location the video was taken from. The app, which claims to share the data “discretely”, has been described as having the potential to decrease the number of dangerous incidents young Black people often face and give their families

Software engineer Amina has created a digital resource booklet to help parents and their children learn to code. The document, which can easily be found online, consists of a whole bunch of information, including the seven coding tips parents need to know and why guardians must educate their kids on the importance of tech and coding. Amina has said: “Coding was a huge learning curve for me, and there’s so much information out there. I recently put together a beginner-friendly document with a breakdown of what my job looks like, what software

Ashleigh Ainsley was one of three Black workers at a London startup and he experienced what many would describe as uncomfortable situations – which eventually drove him to leave and use his experience to launch a social enterprise for Blacks in tech. The Oxford University graduate from Lewisham said he felt he couldn’t be his true self and struggled to navigate the London office, which consisted of 300 employees. He claims he was also asked to shave his beard while working at a startup and felt that he was being

Nyla Hayes, the creator of the Long Neckie Collection, a non-fungible token (NFT) collection worth about $3.4 million in digital currency — has just been announced as TimePieces’ first artist in residence. This is a pretty big deal for someone who is just 12-years-old. Nyla is breaking down boundaries and leading the way for young Black people in tech. POCIT has simplified what her role actually means and a bit more about the young creator. Who is Nyla? Nyla Hayes is the 12 year old creator of the Long Neckie Collection, which features diverse

Meta4 Fund Management, a cryptocurrency-focused investment management company, today announced the launch of Meta4 NFT Fund I, LP, an investment vehicle that will buy rare specimens of non-fungible tokens. The Fund’s Managing Partners are Brandon Buchanan and Nabyl Charania. The new private investment fund has secured a lead investment from Andreessen Horowitz (a16z) a venture capital firm that backs bold entrepreneurs building the future through technology. It comes at a time when NFTs have become the most interesting, entertaining, and lucrative subsection of the cryptocurrency asset class. The Fund will invest in digital

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