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- CBX Daily 5/2/2024
CBX Daily 5/2/2024
Majella Mark
May 02, 2024
Today SureImpact is paving the way for the stray, but let’s start with UAE’s smart play to Africa’s gateway…
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The UAE Is Capitalizing On Its Strategic Affair With Africa
CBX Vibe
The UNCTAD's World Investment Report 2023 revealed a significant decline in Foreign Direct Investment (FDI) for Africa, dropping to $45 billion in 2022 from $80 billion in 2021, representing 3.5% of the global FDI. Despite this decrease, greenfield project announcements increased by 39%. Greenfield investments are often seen as a way for companies to enter new markets, gain access to local resources, or diversify operations and Africa saw substantial investment in megaprojects. With six of the top 15 projects worldwide valued at over $10 billion each.
Increasing ‘SureImpact’ Funding For Underserved Areas
 CBX Vibe: | Social impacts are typically long-term, making it challenging to evaluate the success and effectiveness of initiatives in the short term. This can lead to misaligned expectations and difficulties in maintaining stakeholder support. Increased accountability and transparency in the grant making process is where SureImpact, a company demonstrating measurable tracking improvements in equity for underserved communities, is helping funders invest in the most effective programs and initiatives. |
Majority Black Areas Are Major Catalysts For U.S. Startup Growth Up 198%
 CBX Vibe: | Startups have taken off during the pandemic with majority Black areas playing a huge role in their success. A new report from Third Way found that in counties where over 75% of residents are Black, applications for new businesses increased 198%. The U.S. Census Bureau’s Business Formation Statistics data reveals the pandemic-era startup surge may have been more pronounced for minority entrepreneurs as the labor tide continues to shift. |
Basquiat's Masterpieces Set To Fetch Millions In New Auction
 CBX Vibe: | Christie is preparing to auction The Italian Version of Popeye Has No Pork in His Diet by Jean Michel Basquiat this May. This among other Basquiat's masterpieces are ready to hit the auction block at Christie’s, a world-known auction house for the arts. The 1982 painting potentially reached bids surpassing $30 million. It's been seven years since the last Basquiat painting was sold and it set an auction record for selling at $110.5 million. |
Does America’s Aging Population Impact The Wealth Gap?
 CBX Vibe: | The 21st-century American household is significantly different from what it was a few decades ago, from 4.6 persons to 2.65 persons. An aging U.S. population has also significantly influenced the household composition shift, with the average African American in their mid-30s. Between 2010 and 2017, the share of adults ages 45 to 64 declined from 35% to 33%, while the share ages 65 and older increased from 17% to 20%. This change in the share of U.S. households by income and age can have several implications for the future of the African American community. |
Vibes of the Week
“Take Dat.” What are the UAE countries giving Africa? Meanwhile, Gucci Mane is serving some bars in our CBX Vibes! |  |