Black, white wealth, pandemic, average salaries

by Jameelah Mullen

November 1, 2024

Nigerian Tech Company Moniepoint Secures $110 Million Investment

Moniepoint was founded by Tosin Eniolorunda and Felix Ike in 2015.

Moniepoint, a Nigerian-based fintech company that serves millions of entrepreneurs across Africa, has secured $110 million in funding to expand its business. The funding came from four entities: London-based Development Partners International and Lightrock, which had previously invested in the firm; Google’s Africa Investment Fund and Verod Capital are new investors.

Moniepoint—formerly called TeamApt—was named the fastest-growing fintech company by the Financial Times for two years.

The company provides various financial services, including bank accounts, loans, and business management services. It processes over 800 million monthly transactions, with a value exceeding 7 billion.

Moniepointe Co-Founder Tosin Eniolorunda says the new investor funding will help the company enhance the customer experience.

“Our mission is to help our customers solve their challenges by making our platform more innovative, transparent, and secure. The proceeds from this raise will speed up our efforts to drive financial inclusion and support Africa’s entrepreneurial potential. I want to sincerely thank the entire Moniepoint team for making this achievement possible, “ Eniolorunda said in a press release shared with Afrotech.

Adefolarin Ogunsanya, a partner at Development Partners International, also expressed his excitement about contributing to Moniepoint’s growth.

“We are delighted to lead this investment round in Moniepoint, one of Africa’s most exciting and fastest-growing companies. A profitable business led by an excellent leadership team with clear strategic vision, Moniepoint is well positioned to continue its impressive growth trajectory while driving financial inclusion for underserved businesses and individuals across Africa, Afrotech reports.

Moniepoint officials say they will continue prioritizing Nigeria, but the company plans to expand to other African countries. The company is currently assessing those markets to gauge how it can effectively meet customers’ needs.

The successful fintech firm has previously received backing from QED Investors, British International Investment (BII), and Endeavor Catalyst. Since its launch in 2015, the company has raised over $180 million since it launched in 2015.

RELATED CONTENT: Leveraging Fintech to Empower Black Giving

Derrick Johnson, NAACP, reparative economic justice initiative

by Jeroslyn JoVonn

November 1, 2024

NAACP Announces $200M Fund To Support Black Businesses As Part Of Reparative Economic Justice Initiative

The NAACP launched a $200 million initiative to restore the economy through Black businesses.

The NAACP has launched a $200 million initiative to strengthen Black businesses through a focused investment fund.

The new NAACP Capital Fund is a targeted investment in the future of Black businesses, aimed at closing the racial wealth gap and addressing the funding challenges that many Black-owned businesses encounter. The fund aims to shift the economic landscape by focusing on ventures led by Black founders and entrepreneurs.

This initiative underscores the understanding that supporting Black business owners can foster sustainable growth for both the Black community and the larger economy. It was created to reverse trends that have left many Black entrepreneurs excluded from economic growth.

“As an ever-evolving legacy organization, the NAACP knows that innovation is borne out of inclusivity,” said NAACP President & CEO, Derrick Johnson. “Impact investing has the power to drive historic financial returns and uplift overlooked communities.”

“Right now, deeply entrenched systemic barriers are curtailing the innovative progress necessary to breed healthy competition in a global economy. We’re seeking to change that.”

The U.S. Census Bureau reports that while Black-owned businesses make up roughly 10% of all U.S. businesses, they receive less than 1% of venture capital funding. This gap between entrepreneurial ambition and financial backing highlights systemic inequities which the NAACP Capital aims to combat through the fund that serves as a form of reparative economic justice by providing Black entrepreneurs with essential resources for growth and success.

Alongside financial support from the NAACP Capital Fund, Black businesses will gain access to business development services, mentorship, and networking opportunities, equipping them to tackle the challenges of operating in today’s competitive market.

“Investment is the backbone of impact, and impact investing will shape socioeconomics for generations to come,” Johnson said. “It’s time to invest in fund managers who share a forward-looking vision that invests in innovation and technology, ensuring the economy works for everybody, not just a select few.”

This initiative benefits not only Black entrepreneurs but also the entire U.S. economy. Supporting diverse businesses bolsters the market, fuels innovation, and generates jobs.

by Cedric 'BIG CED' Thornton

November 1, 2024

Jaylen Brown Launches His Own Athletic Brand, Credits Kobe Bryant As Inspiration

'Before he (Kobe) passed away, he was planning to launch his own shoe brand, sign athletes, and give them better deals and percentages.'

NBA Champion Jaylen Brown did the opposite of what most superstars do when offered a big contract. He turned it down but decided to launch his own brand instead, crediting the late Kobe Bryant with the idea.

In an exclusive interview with Entrepreneur and Sports Illustrated, the Boston Celtics player discussed his latest venture, 741, a shoe and athleisure brand. After meeting with several companies and not feeling the offers thrown at him, Brown stated he went the route that the great Kobe was planning on taking. The Lakers legend had plans to start his own athletic company, so he opted to do the same.

After turning down $50 million in endorsement deals, he launched 741 in September.

“Honestly, I got the idea from Kobe [Bryant], rest in peace. Before he passed away, he was planning to launch his own shoe brand, sign athletes, and give them better deals and percentages. I remember reading an article about that, and I thought it was dope. I’ve gone through my own experiences dealing with major corporations and how they value your creativity and how they value you. I met with every brand, and none of them stood out. They all kind of approach things the same. I was looking for the brand of the future, not the brand of the past. And I couldn’t find it, so I had to start it.”

Brown also stated that he also helped design the products for his line. Besides designing, he said that creating 741 has allowed him to explore his creativity.

“I designed everything myself. I was just at the factory in South Korea, on the line, making sure stuff was done in the way that I see fit. I passed on probably almost $50 million worth of deals [from other brands] in order to start something on my own. And it’s not because I didn’t like the money they offered. It’s because those deals pigeonholed me, and they didn’t allow creativity.”

Brown also said that he doesn’t want to force anything in terms of promoting the brand. He’s more into the slow-build approach and admitted that “it doesn’t have to be the hottest brand on the street by tomorrow.”

AI, artificial intelligence, trends, A.I., journey, technology, DryMerge, AI, job interview

by Jeroslyn JoVonn

October 31, 2024

Hiring Managers Reject AI-Generated Job Applications From Job Seekers

New studies show how frustrated hiring managers are with AI-generated job applications.

Statistics reveal that many job seekers exaggerate or misrepresent details on their resumes, and an increasing number of hiring managers are frowning upon those who use AI in job applications.

A new survey by the CV Genius research team revealed that 80% of hiring managers dislike AI-generated cover letters and resumes, with 74% saying they can spot when AI has been used in a job application. Instead of AI, hiring managers prefer human-written applications and believe candidates who use AI come across as repetitive, generic, and lazy.

The survey of 625 hiring managers found that over half (57%) are far less likely to hire an applicant who used AI in their application and may disqualify the candidate altogether if they suspect AI has been used.

“Job seekers must learn how to use AI as an asset and not as a shortcut.” Ethan David Lee, career expert at CV Genius, says. “Hiring managers don’t mind AI in applications, but when it’s used carelessly, the result feels impersonal and fails to stand out.”

“In an AI world, it’s more important than ever that applicants show their human side,” Lee added. “It doesn’t mean that job seekers shouldn’t use AI, but they need to use it mindfully if they want it to help their chances.”

In response to the growing number of job seekers resorting to AI in their job search, CV Genius released a Guide to Using AI for Job Applications, offering insights on how to use AI to enhance applications without raising red flags to hiring managers. Emphasizing that AI can be beneficial when used thoughtfully, the guide provides six tips to help job seekers effectively leverage AI to enhance their applications.

Avoid Relying Solely on AI

AI should support, not substitute, your job application efforts. While using AI as a writing aid is fine, ensure each application is customized for the specific role and company.

Review for Exaggerations or Inaccuracies

AI’s tendency to exaggerate or fabricate accomplishments and experiences can harm you during the interview process. Always fact-check your AI-generated CV and cover letter to ensure accuracy. If you secure an interview, be ready to support every claim made in your application.

Incorporate Personal Experiences and Specific Examples

AI frequently employs generic phrases, resulting in CVs and cover letters that may sound polished but lack concrete evidence. Recruiters recommend avoiding this mistake by adding personal touches an AI Autobot cannot generate.

Avoid Using Common AI Writing Patterns

AI-generated content frequently exhibits consistent patterns, including a straightforward, formal writing style and repetitive phrases. When utilizing AI to draft your CV and cover letter, it’s essential to review and edit the generated content and replace any words or phrases that appear repeatedly or seem out of context.

Ensure Consistency In Verbiage/Vocabulary of Your CV, Cover Letter, and Interview

Another sign of AI-generated content is a mismatch in writing tone between the CV and cover letter, which can make matching the persona of an AI-generated application during a real-world interview difficult.

Use AI Checkers to Review Your CV and Cover Letter

To prevent your applications from being discarded, run them through multiple AI detection tools before submission and revise any flagged sections to ensure they align with your unique voice and style.

by Kandiss Edwards

October 31, 2024

Jaywalking Now Legal In New York City

Pedestrians can walk in the streets without consequence.

As of Oct. 26, jaywalking is legal in New York City, according to the Associated Press.

The New York City Council’s Commission on Transportation and Infrastructure introduced a bill to amend the law that makes jaywalking a criminal offense.

Since Mayor Eric Adams did not approve or sign the bill, it became law after 30 days, so now New Yorkers can “legally cross a roadway at any point, including outside of a marked or unmarked crosswalk, and allow for crossing against traffic signals.”

Mercedes Narcisse, a New York City council member, believes people who violate jaywalking laws do not deserve a fine. In a city of millions, “people are simply trying to get where they need to go.”

Narcisse also contends jaywalking laws disproportionately affects communities of color. Black and Latino people, she said, made up 90% of New York’s jaywalking tickets in 2023.

The new law will put the responsibility of safety squarely on pedestrians’ shoulders as they will no longer have the right of way. Street signs, crosswalks, and cross signals will still be active. Residents and visitors can now decide whether or not to use the safety measures.

“We continue to encourage pedestrians to take advantage of safety mechanisms in place—such as daylighting, pedestrian islands, and leading pedestrian intervals—by crossing in a crosswalk with the walk signal,” said Liz Garcia, a spokeswoman for Adams.

New York City is not the only American city coming to terms with the implications of criminalizing jaywalking.

A new report by the Transportation Choices Coalition shows how marginalized communities are affected in Seattle, Washington:

Black pedestrians are stopped by police for jaywalking 4.7 times more frequently than their share of the population.
Unhoused residents represent at least 41% of those impacted by jaywalking stops.
Warrant checks are conducted in 77% of jaywalking stops.

No definitive conclusion can be drawn from these numbers, but it appears the effects of jaywalking are similar to New York’s abandoned “Stop and Frisk” policy.

by Cedric 'BIG CED' Thornton

October 31, 2024

Georgia Man Indicted After Being Accused Of Defrauding The Home Depot Of $800K

Yasin Saleem was accused of participating in a scheme that defrauded the retailer of more than $800,000.

A man has been indicted by a federal grand jury on charges of participating in a scheme to defraud The Home Depot of more than $800,000.

According to the U.S. Attorney’s Office, Northern District of Georgia, Yasin Saleem was arraigned on federal charges of conspiracy and wire fraud for being a part of the alleged fraud committed against the retailer. The accused and his co-conspirators allegedly used fake driver’s licenses at The Home Depot to hide their identities while making purchases of equipment and tool rentals. They also used altered debit cards with fake account holder names that matched the fictitious licenses used in the scheme. The debit cards were often issued before being used in fraudulent sales and carried the minimal funds needed to commit the fraud.

The alleged thieves then failed to return the rented equipment and tools, and the debit cards used did not have the necessary funds to complete the sale. Saleem and his co-conspirators allegedly disabled the GPS devices attached to the rental equipment to get away with the alleged crimes. They were also accused of allegedly using stolen license plates to hide their crimes. Saleem and his co-conspirators reportedly stole over $800,000 of equipment from The Home Depot.

“Saleem and a crew of conspirators allegedly used fictitious driver’s licenses and fraudulent debit cards to exploit vulnerabilities within Home Depot’s equipment and tool rental service by stealing more than $800,000,” said U.S. Attorney Ryan K. Buchanan in a written statement. “Our office is committed to partnering closely with federal, state, and local law enforcement investigators to disrupt these kinds of criminal schemes and to prosecute the individuals who perpetrate them at the expense of corporations.”

Saleem, 45, of Macon, Georgia, was indicted by a federal grand jury on June 25 and arraigned before U.S. Magistrate Judge J. Christopher C. Bly on Oct. 25.

Cam Newton, Atlanta, youth group, youth camp

by Cedric 'BIG CED' Thornton

October 31, 2024

Cam Newton Gives Props To Johnson C. Smith University

The former NFL quarterback acknowledged the HCBU's currently undefeated football team.

First Take commentator and former NFL quarterback Cam Newton stopped at an HBCU and publicly gave it a shoutout after visiting the team over the weekend.

Newton, a former MVP quarterback for the Carolina Panthers, was in Charlotte to conduct a football camp for kids at Johnson C. Smith University, whose football team has won its first eight games thus far.

The school released a video clip on its social media account showing Newton acknowledging the program.

“Yo, what’s good? What’s poppin’? Cam Newton here,” he said in the video. “Man, I want to give a special shout-out to the Johnson C Smith football team. Faculty, staff, football players, coaches, everybody involved, as well as the fans. Man, I’m rooting for you. Keep rocking and rolling. And as always, say one pinky, one thumb, one love.”

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Newton has risen in popularity recently.

The former NFL player hosts his own podcast, Funky Friday Podcast, and was recently added as a regular host on ESPN’s First Take, joining the team of Stephen A. Smith and Molly Qerim on the top-rated sports program. He made his debut appearance on Oct. 11. He was on location when the show filmed at Tennessee State University in Nashville for “First Take on The Road.”

At the time of his hiring at ESPN, Newton said, “I’ve always brought passion and energy into everything I do, and that won’t change at ESPN. I’m looking forward to the opportunity to share my perspective and go toe-to-toe with the best in the business. Fans can expect the same intensity I brought to the field, along with real talk, bold takes, and good fun.”

by Cedric 'BIG CED' Thornton

October 31, 2024

The Culture Creators Announce ‘Lil’ WeezyCon’ As Part Of The Upcoming Lil’ WeezyAna Fest

Lil WeezyCon will take place on November 2 at The Fillmore in New Orleans from 10 a.m. to 5 p.m.

A partnership has developed between Culture Creators Foundation and Live Nation Urban, announcing the launch of Lil’ WeezyCon, which has been added to the Lil’ WeezyAna Fest in New Orleans.

The promotion company announced that Lil WeezyCon will take place on Nov. 2 at The Fillmore in the rapper’s hometown from 10 a.m. to 5 p.m. Lil’ WeezyCon will be available for thought leaders, creators, artists, and young professionals to experience a day of panels, networking, and community engagement. The conference will impact the community by including college students, local community organizations, and high school seniors in this collaboration. These individuals will be able to engage with top industry professionals while being able to learn about career paths in
entertainment and entrepreneurship.

Lil’ WeezyCon will incorporate students from Dillard University to help produce the event while gaining participation from volunteers who attend Louisiana State University (LSU), Xavier University, and other local schools that will contribute their skills and support for the conference.

“We’re thrilled to collaborate with LiveNation Urban to create Lil’ WeezyCon, where we can bring together the brightest minds and most influential voices from across the industry to inspire and uplift future generations,” said Joi Brown, founder and CEO of Culture Creators Foundation in a written statement. “This is an incredible opportunity for our community to connect, share knowledge, and build meaningful relationships while celebrating the culture that drives us all.”

The Lil’ WeezyAna Fest weekend will start with a pre-party at The Fillmore New Orleans on Friday, Nov. 1, at 7:00 p.m., with special guests.

On Nov. 2, Lil’ WeezyCon will take place with various panels and workshops for those in attendance.

The weekend ends with the Lil’ Weezyana Fest Thank You Brunch on Sunday, Nov. 3, at 10 a.m. at the House of Blues New Orleans. The legendary Cita and Reginae will host the brunch, which will feature special guest Rude Jude.

People interested in attending Lil’ WeezyCon can obtain free tickets by registering on the website.

Carol Dunn Pushes Barking Owl Mission Forward As New Managing Director

by Stacy Jackson

October 31, 2024

Carol Dunn Pushes Barking Owl Mission Forward As New Managing Director

The longtime music professional will lead the day-to-day duties at Barking Owl, which partners with big names like Apple and the GRAMMYs.

Longtime entertainment professional Carol Dunn is the new managing director of Barking Owl, the trusted audio partner of the greatest ad agencies, brands and production companies across the world.

The award-winning music, audio post-production and sonic branding company announced Dunn’s new position in July. “…This move to Barking Owl is the deliberate, exacting manifestation of my hard work, sacrifice and dedicated 26-year love affair with music placement,” Dunn said in a press release. As Managing Director, she works closely with Barking Owl’s Creative Director, Johanna Cranitch, and Chief Executive Officer, Kirkland Alexander Lynch, to introduce new opportunities that will stimulate new growth for the agency and its brand partners.

Dedicated to continue the success the company has seen over the past decade, Dunn assumes the duties formerly performed by company founder Kelly Bayett. The Barking Owl founder said that stepping back from the company, into an advisory role, made room to finally work together with Dunn, who she’s been a huge fan of for decades. Boasting a portfolio of projects with big names like Megan Thee Stallion, Adidas, the GRAMMY Awards and more, Bayett is confident that the new Managing Director will push the company further ahead than ever before. “She not only has incredible taste, but her level of professionalism and understanding of the industry is unmatched,” Bayett said. “We feel incredibly fortunate to be able to add her to our parliament.”

Dunn brings a wealth of knowledge to her new role with Barking Owl as she continues her over 30-year career in the entertainment industry. Her range of skills, according to LinkedIn, includes: music supervision, licensing, music production and entertainment, business development, sales, marketing and branding, diversity and inclusion advocate, and culture and talent manager. In her previous role as West Coast Executive Producer for a leading music house, she managed creative projects and audio productions for film and television. She has produced projects for popular brands like Nike, Doritos, Samsung, and Uber. She was the former Head of TV & Film at Capitol Records and has contributed to soundtracks for films including Boogie Nights, Baz Lurhmann’s Romeo + Juliet, and the two Rugrats movies.

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With over 15,000 square feet of audio production studios throughout New York City and Los Angeles, Barking Owl was named Sound Company of the Year at Ciclope 2024. The company shouted Dunn out for her July honor as London International Awards’ 2024 Music & Sound Jury President.

Tour the Barking Owl offices on the company’s YouTube channel.

by Stacy Jackson

October 31, 2024

Mother And 2 Children Die After ‘Intentionally’ Jumping Nearly 200 Feet At Niagara Falls

Authorities said the New York mother 'intentionally' took the nearly 200-foot fall at Niagara Falls with her 9-year-old and 5-month-old children.

A 33-year-old mother died after she reportedly stepped over the guardrail at Niagara Falls on Monday and plunged nearly 200 feet with her two young children.

According to the New York Post, Chianti Means jumped to her death with her 9-year-old, Roman Rossman, and 5-month-old baby, Mecca Means. New York State Police arrived at the popular but more secluded Luna Island overlook at around 9 p.m.

The incident was reported by investigators as “intentional.”

According to LinkedIn, Means was a resident of the Buffalo-Niagara Falls area who worked as a domestic violence counselor. She earned her bachelor’s degree in social work from Buffalo State University in 2019 and earned a master’s degree of social work at University at Buffalo in 2020. Stunned friends and family flooded social media with tributes and condolences.

“I am literally sick to my stomach, and I can’t even deal with the emotions I am feeling. Just know her and her children are dearly loved by me and my children,” said friend Mich Molina. Another friend, Kayshawna Morgane, added, “I have been speechless and crying and couldn’t sleep at all…Mental health is no joke.”

As the investigation continues and officials work to locate the victims’ bodies, attention has been called to the last posts Means published to her Facebook page, where she identified as “Diamond Scott.”

The timeline of Facebook posts before Means’ death appears to repeatedly address a breakup with a baby daddy she referred to in her bio as “Jeff.” “I wish someone would love me because the man that’s suppose to does not,” she wrote on Sept. 28. The post was followed by several others throughout October, one which read, “Everyone, please leave me alone. I’m in love with my daughter [sic] father. I want my family back. Respectfully Idgaf what I said about him before or what anyone else thinks.”

On Oct. 19, she reposted a statement from another Facebook user that read, “It feels like everyone sees my mistakes, but no one notices how hard I’m trying.” In response to a reposted question from 2020 that read, “why you and yo ex broke up?” Means responded, “Cause I was a dumb a** pregnant b*tch who swore up & down I ain’t want him.”

“You have to hold on to the ones you love. Never know when you might lose them,” she wrote on Oct. 1.

Luna Island, run by The New York State Office of Parks and Recreation, welcomes visitors to the area 24 hours a day, seven days a week. The park has attracted more than 8 million guests annually.

However, several deaths have been reported to happen over the railing that separates onlookers from the deadly plunge. The Warrior’s Journey, a platform that provides resources for individuals preparing to serve in the military, reported that thousands have died at Niagara Falls through accidents, suicide, and daredevil attempts.

“Surviving the 170-foot drop borders on the impossible,” the website wrote above stories of past victims and survivors.