CBX Daily 7/9/2024

Author

Claire Moraa
July 09, 2024

Today Black women are spearheading entrepreneurship with cultural cues, but let’s start with how Uganda’s success is unfolding before our eyes…

Cultural Intelligence Download

Uganda's Golden Opportunity On The Investment Horizon

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Uganda has been working behind the scenes and it seems to be paying off. The country just scooped the award for best investment destination in Africa beating six other contenders. And it's not the first time it is bringing the award home. In 2023, the country was awarded the best investment destination in East Africa. These efforts seem to be paying off as its FDI inflows also increased from $1.36 billion to $1.5 billion in 2023.

Top Women Leveraging Cultural Currency To Spur Black Entrepreneurship

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In the vibrant tapestry of modern entrepreneurship, Black entrepreneurs stand out and are leveraging their cultural currency, a critical yet often overlooked asset that powers not only the engines of individual businesses but also the broader ecosystem of minority-led innovation. Although overall funding to Black-founded startups dropped a staggering 71% last year, Zeal Capital Partners is continuing to invest in game changing entrepreneurs like Fifi Kara, CEO of Aster, an all in one women’s health management platform, to carve unique pathways through the realms of financing, innovation, and representation.

Bitcoin Boom In Black Communities Could Bust Banking Institutions

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After 100 years of systematic racism, fewer African- Americans are investing in stocks, instead turning to the profitable benefits of cryptocurrency and its decentralized model to bring in the big bucks. With 1 in 3 African American investors owning cryptocurrencies compared to 17% of white investors, digital coins, blockchains and NFTs (non fungible tokens) are experiencing exponential growth due to a severe lack of trust in legacy firms. Black Millennials, Gen Z, and teen digital natives changing the financial landscape are turning to online and social media channels to grow their own wealth; leaving traditional banking institutions in their wake. This begs the question, are banks redundant for the Black community?

Is Blockchain Important To The Future of Agriculture?

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Agriculture has grown into a multi-trillion dollar industry. However, there are many challenges currently facing the sector and food security remains a global issue with the global blockchain in agriculture and food supply chain market size is projected to reach $948 million by 2025. How big could the impact of blockchain become in overcoming the mounting problems and shaping the future of agriculture?

What's Next For Artists & Collectors After Gallery Closures?

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Gagosiar, Simon Lee, Betty Cuningham are just some of the art galleries that have taken a hit and sunset their services. The closure of art galleries has had a significant impact on artists and collectors alike, with both groups now having to navigate new challenges in the industry. The art industry has been taking a hit notably falling 4% to lows of $65 billion which has been the lowest in the last three years.

Vibes of the Week

Uganda is showing the rest of Africa why it’s “One of wun” Gunna knows this all too well. Get into it in our CBX Vibes!