CBX Daily 12/11/2023

Author

Earlene Greene
December 11, 2023

Today diverse suppliers are uplifting the economy, but let’s start with the cost of pollution on Black communities…

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Deep Breath: Unpacking The Cost of Environmental Pollution In Black Communities

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In a groundbreaking move, the Biden administration has earmarked a staggering $2 billion for its largest-ever environmental justice initiative, aimed at cleaning up pollution and fostering clean energy development in marginalized communities. This initiative responds to the stark realities of environmental racism and the disproportionate impact of pollution on Black neighborhoods. It’s not just about monetary investments; it's about rectifying historical wrongs, ensuring equitable access to a clean and safe environment for all, and one day being able to take a breath of fresh air.

Diverse Suppliers Could Add $280 Billion To The U.S. Economy

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The U.S. economy is being called to task regarding the very top of mind subject of diversity, specifically when it comes to suppliers and vendors that could add $280 billion in extra income and four million jobs. A new McKinsey report “Expand diversity among your suppliers and add value to your organization” found that the U.S. could reach these figures if spending with minorities and women increased.

Africa's First Unicorn Jumia Reaches New Milestone While Curbing Losses

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With its roots firmly planted in the African soil, Jumia Technologies (JMIA +9.44%), the continent's first technology unicorn, recently achieved a remarkable feat. Jumia improved guidance for its 2023 EBITDA loss, along with announcing the achievement of year-over-year growth in 5 countries. The pan-African e-commerce leader has recorded a robust financial quarter, promising a brighter future for tech startup investment on the continent.

Surviving Crypto's Bear Market As Bitcoin Prices Soar To 18-Month High

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Bitcoin, the world’s most popular cryptocurrency, was up more than 6% over the past 24 hours, trading above $42,000, according to CoinMarketCap, hitting its highest level in 18 months. Investors are beginning to look ahead to a lower interest rate environment and key regulatory approvals that could make the crypto asset more mainstream. On the backdrop of this bullish run, it is important to note blockchain technology acceptance is steadily pushing forward and now the Securities and Exchange Commission (SEC) is poised to make some major changes.

Black Innovation’s Frontline: Finance Savvy CEO Is Bridging Entrepreneurship With Generational Wealth

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Entrepreneurship is a potent tool for wealth creation and achieving financial independence. Founder Marguerite Pressley Davis’s Finance Savvy CEO company is making sure that small business owners gain the ability to set their own salaries and reinvest profits back into the business, fueling growth. This control over income provides a pathway to financial freedom and the opportunity to create generational wealth, which is needed because in 2064, the average white family will likely possess $2,782,727 in wealth while the average Black family wealth will be $789,164, according to  a report by Elliott and Abacus Wealth Partners.

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