CBX Daily 4/3/2024

Author

Jonathan Ntege Lubwama
April 03, 2024

Today Latino entrepreneurs are defying limits and eyeing new highs, but let’s start with how Amazon sets its eyes on African skies…

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Amazon Is Expanding To The South African Market In 2024 

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Amazon (AMZN +0.86%), the global e-commerce giant, has announced its plans to launch its online shopping service in South Africa in 2024. This move marks a significant expansion for Amazon, making South Africa only the second African country, after Egypt, to have a locally dedicated website from the U.S. company. South Africa will also become the 21st country to host Amazon's locally dedicated website, posing a significant challenge to the plethora of online retailers, primarily led by Naspers' Takealot.com.

The Unstoppable Growth Rate Of Latino-Owned Businesses In America

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In the vibrant tapestry of the U.S. economy, Latino-owned businesses have emerged as a dynamic and influential force. These entrepreneurs are creating businesses at over twice the rate of the general U.S. population, as their community necessitates high levels of innovation and ingenuity. New businesses owned by Latinos accounted for 36% of launches in 2023, according to a new analysis of Census Bureau data.

Robinhood Collabs With Rich Paul To Venture Into Sports And Entertainment

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Powerhouse trading platform Robinhood is strategically expanding its brand beyond their sector by joining forces with Klutch Sports Group. This recent collaboration with the agency founded by Rich Paul, the agent and close friend of LeBron James, will showcase Robinhood's aspirations to establish a presence in the sports, entertainment, and media industry.

 

Here's Why $12.5 Billion Has Been Lost To Online Scams

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An online scam is no new phenomenon. However, with the surge in digital currency usage, the method of operation has evolved and is now targeting unsuspecting individuals. A crime report by the FBI reveals that online scams are on the rise with a 22% increase in 2024 and with over 880,000 new complaints. Even though scams have been there before, this new surge is because attacks continue to morph and become more sophisticated. Attackers are employing advanced techniques and strategies to evade detection and maximize their profits.

PepsiCo's $250,000 Boost To Combat Food Insecurity In HBCUs

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On Historically Black Colleges and Universities (HBCUs) campuses, students face the dual challenge of hunger and learning, as food insecurity casts a shadow over their educational journey. This issue underscores the pressing need for comprehensive support systems to ensure that students can thrive academically despite socioeconomic barriers. However, PepsiCo's donation of $250,000 to five universities, supporting over 37,500 students facing food insecurity, is a good example of corporate social responsibility.  

Vibes of the Week

Anything can be “ReConditioned” as South Africa joins in the Amazon goodness. Muthoni Drummer Queen, Hook and GR say so. Get into it in our CBX Vibes!