According to Reuters, Bank of America (BoA) has announced an investment in Impact X Capital Partners’ IX Global I fund. The initiative aims to nurture underrepresented innovators, particularly women and founders of color, in sectors like digital technology. Impact X Capital Partners IX Global I Fund Impact X Capital Partners, established in 2019 and headquartered in London, blends financial returns with social impact. The venture capital firm is dedicated to addressing the disparity in capital access for diverse UK and European entrepreneurs. Impact X has several notable founding members, such as Ursula Burns, former CEO
Beyoncé’s latest album, “Cowboy Carter,” holds a bold statement in the ongoing dialogue about the role of AI in music production. Beyoncé’s Use Of Traditional Methods Beyoncé emphasized her commitment to authenticity in music creation in a rare public comment. She clearly preferred real instruments and traditional methods over artificial intelligence and digital manipulation. “The more I see the world evolving the more I felt a deeper connection to purity,” Beyoncé said in a press release. “With AI and digital filters and programming, I wanted to go back to real instruments, and I used very old ones…
Visa and Mastercard are setting their sights on Africa’s fintech market. Africa’s booming fintech sector E-commerce is booming across the continent. The Wall Street Journal reports that by the end of this year, an estimated 435 million Africans are expected to shop online, a nearly twofold increase since the pandemic. However, people are less likely to make payments using cards than in other global markets, relying instead on mobile money, digital wallets, and bank transfers. Visa and Mastercard, determined to stay relevant, are pouring millions of dollars into the continent
April Fools’ Day is known for its jokes, but in the tech world, it can be challenging to tell what’s real and what’s not, even on regular days. A lot is happening in tech, from ingenious deceits to blatant scams. We’ve got stories about everything from a Black tech pro who made up a fake assistant to earn more respect to the wrong use of AI in politics and huge money tricks in the crypto world. Here are 9 POCIT stories to check out this April Fools’ Day. 1. The
Wasoko, one of Africa’s largest B2B grocery marketplaces, has experienced a 48% markdown in its valuation. A B2B Grocery Marketplace Founded by Daniel Yu in 2014, Nairobi-based Wasoko has grown remarkably, expanding its operations across multiple African markets. By 2023, it boasted a significant customer base, secured agreements with major suppliers, and offered competitive pricing. TechCrunch reports that VNV Global, a Swedish investment firm, has revised Wasoko’s value to about $260 million, a 48% reduction from previous estimates, according to its annual report for 2023. This revision coincides with Wasoko’s planned merger
Meta Platforms Incorporated recently announced that it will enable content creators in Nigeria and Kenya to monetize their content on Instagram and Facebook starting June 2024. Monetizing Instagram Content Spearheaded by Nick Clegg, President of Global Affairs at Meta, this initiative aligns with the growing recognition of Africa’s digital potential. Meta will introduce a feature on its Instagram app in June, allowing Nigerian creators to monetize their content and earn a living using it. Creators can run ads in-stream and engage with an international audience. “Nigerian creators have global reach,” Nick Clegg, the company’s President of
Data from 22Â leading institutions has found that enrollments of underrepresented minorities in MBA programs have declined or stagnated since 2020. A Drop In Enrollment Of Underrepresented Minorities Following George Floyd’s death in 2020, which ignited a push for racial justice, top U.S. business schools pledged to increase diversity. However, the University of Michigan, Virginia, and Berkeley have seen significant drops in minority student numbers. For instance, Virginia and Berkeley’s 2025 classes included just 6% underrepresented students, and Michigan had 7%. These figures heavily contrast with their previous commitments to diversity. Despite some schools’ slight improvements, the overall
Tech workers reliant on H-1B visas are facing concerns as fees for these visas and green cards are set to increase next month for the first time since 2016. An Increase In Visas Fees The increase, set to go into effect April 1, was initiated by the U.S. Citizenship and Immigration Services (USCIS) to address a backlog of soaring application numbers, reaching 10.9 million in 2023. Additionally, the fees for H-1B visas, needed for thousands of highly skilled tech workers, will increase by 70% for large employers, moving from $460 to $780. However,
The Sims franchise, hair brand Dark & Lovely, and award-winning gaming content creator Danielle “Ebonix” Udogaranya have partnered to address the lack of diversity in gaming. Introducing More Black Hairstyles In Sims Dark & Lovely, a leading hair color brand for Black women, is known for its products tailored to the specific beauty needs of Black women. Collaborating with The Sims 4 and Ugogaranya, they aim to enhance the representation of Black hairstyles within the game. This effort is to empower Black gamers to express themselves more authentically in virtual spaces. “We are excited with this
Three students at North Carolina Agricultural and Technical State University (N.C. A&T) have been named 2023 Astronaut Scholars, marking a historic moment for historically Black colleges and universities (HBCUs). A Historical Moment For HBCUs The Astronaut Scholarship was founded in 1984 by the surviving members of the Mercury 7 crew members. It stands as one of the nation’s most prominent scholarships for students pursuing STEM degrees. N.C. A&T is the first HBCU to have more than one Astronaut Scholarship recipient in a year, a significant milestone in promoting diversity in STEM fields. The scholarships,
