Addressing Black economic inequality could unlock $1 trillion in annual economic growth in the US, according to a study by the Black Economic Alliance (BEA) Foundation. The research, titled “Architecture for Action,” highlights the potential for economic revitalization through targeted interventions aimed at closing the economic gaps faced by Black Americans. The Roots of Economic Disparity The BEA Foundation’s study arrives amid a wave of skepticism and retrenchment regarding diversity initiatives. Despite the cultural backlash, leaders like JPMorgan Chase CEO Jamie Dimon and tech investor Marcelo Claure advocate for sustained
National non-profit organization Black Economic Alliance Foundation has partnered with Deloitte to promote financial inclusion. What is financial inclusion? Financial inclusion allows people of color access to financial services and systems that will better enhance their economic status. Financial inclusion is the bridge between economic opportunities and the racial wealth gap. The more access underrepresented families have to financial services, the easier it will be to help close the racial wealth gap. Deloitte’s partnership with the Black Economic Alliance Foundation Deloitte has committed $10 million over the next five years
Technology giant, Cisco, has made a $5 million commitment to the Black Economic Alliance (BEA) to support the next generation of Black entrepreneurs at HBCUs in the Atlanta area. Approximately $3 million will go towards expanding the Center for Black Entrepreneurship‘s (CBE) programming at Spelman and Morehouse Colleges, as well as developing graduate programming at Clark Atlanta University. An additional $1 million will provide high-quality products and services to the three institutions, which will “will help close the racial technology gap.” A further $1 million will be donated to the
