The US House of Representatives bill, which has imposed a 5% tax on remittances sent abroad by non-citizens, could significantly impact African countries, according to Techpoint Africa. “The One Big Beautiful Bill” was passed on May 22, 2025, by the US House of Representatives, backed by President Donald Trump, which includes a provision imposing a 5% excise tax on remittances sent abroad by non-citizens. The bill intends to create revenue and highlight immigration concerns by targeting outbound money transfers from non-citizens, including people with green cards and temporary visas. How the
Tanzania has blocked access to X following an online hack of the Tanzania Police Force on Tuesday, May 21, 2025. The hack resulted in pornographic posts, which have since been deleted. It also falsely announced the death of President Samia Suluhu Hassan, leading to mass concern before the post was taken down. X blocked in Tanzania Following the hack, the Tanzania Communications Regulatory Authority instructed Internet service providers to limit access to X. The government backed the shutdown to ensure cybersecurity measures to reduce misinformation and maintain public order. The
Entrepreneur Nina Mohanty raised $2 million for Bloom Money, an app designed to help immigrant communities save money. The app, which was founded in 2021, allows immigrants based in the UK to save money collectively, a practice also known as “money circles.” Helping immigrants save money Mohanty worked with banks like Starling Bank, Klarna, and Mastercard and realized they don’t really understand how immigrant communities manage their money. “At a certain point, I just realized I got very frustrated wondering who was building for immigrant communities because I was building
Filed, an AI tax preparer, secured $17 million in pre-seed and seed funding rounds backed by Northzone and Day One Ventures. The fund will help US tax firms increase their capacity through AI. Other investors included J Ventures, Neo, Raine, and Greens Ventures, as reported by Sifted. Being an accountant is not for the faint-hearted, but AI can speed up the tax filing process. Data by Accountancy Age shows that 99% of accountants have leveraged AI as it enhances efficiency and boosts client outcomes. Leroy Kerry, Field’s co-founder and CEO, teamed
Amazon has become a staple of modern life, with millions relying on it for everyday purchases. But few of us stop to consider how our packages magically reach our homes. What if I told you that a robot helped make it happen? On May 7th, Amazon invited POCIT on a sponsored trip to its “Delivering the Future” event in Dortmund, Germany. This is the first in a series of events that will give the media exclusive access to an Amazon innovation center. We were given a sneak peek into Amazon,
It’s been a tough few months for Target after it rolled back its DEI efforts. In a bid to boost company morale, CEO Brian Cornell wrote a memo to employees, but it may have caused more confusion. Cornell admitted that it has been “a tough few months” between the retail economy and “headlines, social media, and conversations that may have left you wondering,” as The Minnesota Star Tribune stated. However, he said Target’s culture and commitment to staff remain the same. Target ending its DEI efforts In January, the retailer announced
Houston-based South Loop Ventures announced a $21 million Fund I, led by Rice Management Company and Chevron Technology Ventures. Texas Capital Bank and The Great Commission Foundation of the Episcopal Diocese of Texas also participated in the funding round. According to its founder and managing director, Zach Ellis, the fund will focus on founders nationwide but hopes to attract founders in healthcare, energy, space, and climate. The firm has made 13 investments and hopes to increase to at least 30. Investing in diverse founders The firm launched in 2022, focusing
The South African government will alter its Black Economic Empowerment (BEE) regulations to allow Starlink to operate in the country. Bloomberg reported that the offer came at a last-minute meeting on Tuesday, 21 June. Foreign investors in South Africa’s telecom sector are required to allocate 30% of a project’s equity to Black-owned businesses to obtain a license. However, Elon Musk’s satellite internet provider will be allowed to meet BEE requirements through equity-equivalent investments instead. South Africa’s Workaround for Starlink South Africa created the BEE laws to address racial inequalities stemming from
This article is sponsored by Walmart Business. Black and Hispanic entrepreneurs are reshaping the hospitality industry, from vibrant boutique hotels and dynamic catering services to in-demand short-term rentals. Yet despite their outsized growth (Black-owned accommodation and food businesses jumped 45% between 2020 and 2023 and Latino-owned grew 35%), these founders often pay up to 20% more for bulk supplies and face steeper hurdles from inflation and supply-chain instability. At POCIT, we celebrate and empower these leaders. Here’s how Walmart Business equips Black and Hispanic hospitality founders to protect their time,
The Future African Space Explorer’s STEM Academy (FASESA) and Boeing have announced the launch of the second edition of the “Pathways to Space” program in Africa. The program returned to Ethiopia and Nigeria and was launched for the first time in Kenya on May 6, reaching up to 300 state school students aged 13-18. It works with local educational and government institutions in Ethiopia, Kenya, and Nigeria. “We are proud to continue our partnership with Boeing. This program reflects our shared dedication to building Africa’s future workforce in space and other
