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The agency partners with 8 Black women-led groups to raise capital

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MBDA, Black-Led Women Groups


The Minority Business Development Agency is exploring options after disagreeing with a federal judge’s ruling that the agency must help all racial groups.

Trump’s nominee, U.S. District Judge Mark Pittman, ruled On March 5, a U.S. Department of Commerce agency created 55 years ago to help minority-owned businesses grow, including Black-owned businesses, must now also provide services to white people.

A Texas court essentially upheld a lawsuit filed by several white business owners who argued that MBDA’s policies were unconstitutional.

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In an announcement MBDA sent to BLACK ENTERPRISES On March 11, Eric Morissette, acting secretary of commerce at MBDA, provided the next response:

“I do not agree with the court’s decision and we are considering our options in this matter. In the meantime, we will continue MBDA programs and work to help businesses owned by socially or economically disadvantaged people in a manner consistent with the court’s decision.”

He added: “When we increase economic access for socially and economically disadvantaged people and their businesses, we create more jobs, generate more income and uplift communities. It’s a win-win, and no one understands that better than President Biden and Vice President Harris.”

For the primary time in history, MBDA announced that it’s working with eight of the nation’s largest Black associations and women-in-leadership organizations to address funding shortfalls for girls entrepreneurs of color.

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According to research conducted for the organization, these organizations have a complete membership of over a million women TO BE. Many of the groups have Black women business owners and entrepreneurs as members.

Despite being purportedly the fastest-growing group of entrepreneurs within the country, dozens of Black women still face significant obstacles in obtaining capital to start, grow, grow and even sustain a business. MBDA hosted associations which might be a part of the Divine Nine organization. They are joined by the National Council of Negro Women, The Links Incorporated, the Black Women’s Agenda and the National Coalition of 100 Black Women.

Sororities include Alpha Kappa Alpha, Delta Sigma Theta, Zeta Phi Beta and Sigma Gamma Rho Sorority. At an event on March 7, MBDA said it has signed MoUs with each organization to work together to support the event of ladies’s enterprises.

The agreement’s primary goal is to increase access to resources, including providing women entrepreneurs with key business development tools to eliminate funding disparities.

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“The Minority Business Development Agency is excited to partner with women-led organizations to break down barriers and advance opportunities for Black women,” Morissette said.

Alphonso David, president and CEO of the Global Black Economic Forum, provided his opinion on the MBDA contract and the lawsuit.

“The Minority Business Development Agency plays a critical role in developing strategic alliances to empower businesses led and founded by people of color. This partnership bringing together Black women-led organizations is a reminder of our collective power to expand opportunities for each other and especially minority-owned businesses.”

The forum calls itself a world enterprise focused on advancing the economic interests of the Black Diaspora and other marginalized groups through global summits, on-the-job training and leadership development, policy advocacy and thought leadership.

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Additionally, David stated: “A recent Texas district court ruling confirms the well-documented systemic and ongoing discrimination against people of color in contracting, and yet the court valiantly seeks to remove remedies to address this problem. It is now imperative that we redouble our efforts to fight economic inequality. And this alliance can serve as a helpful tool in this fight.”


This article was originally published on : www.blackenterprise.com
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Lool Deng increases the net value with a successful property

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Luol Deng


Former Chicago Bulls player, Lool Deng, couldn’t win any NBA championships or had no max contracts during his profession. However, its net value is greater than a few NBA players who’ve global recognition and still play in the league.

According to the man who was Born in South Sudan It has a personal net value of over $ 200 million, exceeding Stephen Curry ($ 180 million), Dwyane Wade ($ 170 million) and James Harden ($ 165 million). Deng has never had the pleasure to get a style of contracts that the athletes concluded during their profession, but his ventures, other than the pitch in real estate, put over them.

During his NBA profession, while playing for Bulls, Cleveland Cavaliers, Miami Heat, Los Angeles Lakers and Minnesota Timberwolves, his total earnings amounted to $ 166 million in a few years from 2004 to 2019.

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Most of the money he earned comes from his real estate company, D3N9, which he began in 2014, ending his profession in the game. He received suggestions in the field from the real estate entrepreneur Don Peebs and former banker Wall Street David Gross, who’s the investment director of his company. Under the umbrella of his company, his portfolio includes hotels, resorts, apartments and residential buildings. Real estate is distributed in Africa, England and the United States and have a total value of $ 125 million.

In the United States D3N9 has multi -family units in Baltimore, houses in Hamptons, Virgin Hotels Las Vegas and a luxurious resort in the Bahamas. His business and bravado led him to earn more cash except sport than lots of his peers who earn most of their income.

After growing up in Brixton, South London, he played his collegial profession at the Duke University before he was elected in the first round of NBA Draft by Phoenix Suns with the seventh selection in 2004. He created the ALL-Star team twice during his profession and was a member of the second NBA team in 2012.

When he retired in 2019, he had 13,361 points, 5,468 rebounds and a couple of,042 assists.

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This article was originally published on : www.blackenterprise.com
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Live Nation plans to improve the Atlanta Center with an investment $ 5 billion

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Live Nation, Atlanta,


Live Nation Entertainment invests in its portfolio of real estate, committing to a plan value $ 5 billion to update the center of Atlanta about the district of the stadium.

The live entertainment company plans to rent a spot for 5,300 places at the Centenary Shipyard in Atlanta. Currently developed next to State Farm Arena and the Mercedes-Benz stadium, a mixed megaproject costs $ 5 billion.

According to Live Nation Will cooperate with sports teams and real estate programmers on the undertaking. The owner of Atlanta Hawks, Tony Ressler, whose team is playing at the arena, and his brother Richard Resssler, the owner of a CIM programming company, have already began introducing the project to realization.

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“The fact that Live Nation decided to be in the center of Atlanta is a great matter,” said the co-founder and director of CIM, Shaul Kuba. “We are creating a completely new market in Atlanta, which did not really exist before.”

It focuses on stadiums as a central element. However, the inclusion of Live Nation will ensure readiness and skill to bring artists from the list A in the center of Atlanta. His concert place will turn into one in every of the largest live internal theaters.

While the project guarantees to help the city of a fighting in the city center, economists don’t seem to sell in the neighborhood model at the stadium. Opposes experts say that projects use taxpayers’ funds to reverse expenditure from the community to the latest stadium.

Reflection of the city itself, the center of Atlanta (*5*)it stays variedAccording to black people, they constitute 48% of his population, according to. However, his financial and residential slowdown, escalated during a pandemic, makes him a brand new trial place for stadium districts.

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Until now, the centenary has made slow progress due to approval, permits and partnerships of city officials. In the case of only $ 1.3 billion in his budget, he has 162 apartments, brewery and pavements established in the area.

However, for the World Championships in 2026, a team of programmers hopes to complete a 304-unique apartment complex, together with hotels, restaurants and retail trade. In addition, he hopes to construct an addictive bar from cinema-sports, which might fit 1,500 participants.

In addition to investing in the creation of space in the center of Atlanta, Live Nation also plans to add 20 more places to its portfolio until 2026. He hopes to play an vital role in the developing entertainment industry and real estate in sport.

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This article was originally published on : www.blackenterprise.com
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The company supported by Aliko Dangot acquires POLLMAN Kenya trips

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Africa Travel Investments, concentrated company acquired Pollman’s trips and safari, the oldest organizer of Kenya trips. The agreement emphasizes the numerous trust of Private Equity in the long run of the Kenya tourist sector, a key factor contributing to the national economy.

The Competition Office in Kenya (CAK) previously approved the takeover of Africa Travel Investments in the quantity of 100% of the Pollman’s issued share capital.

Pursuant to the CAK statement: “In relation to the proposed transaction, after merger, the share in the integrated entity’s market will not change, because the goal and the buyer is not in a similar company, and therefore this will not affect the structure and concentration of markets for tour operators in Kenya.”

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This takeover occurs after the February investment of Alterra Capital, the Private Equity fund supported each by Danglot, the richest person in Africa, together with chairman Dangot Cement, together with the American billionaire Dave Rubenstein, on the ARP Africa Travel Group, Pollman’s mother company. According to CAK, connection won’t be going to affect A competitive landscape of the concert market in Kenya, including the obligatory focus of adventure and abundant safari.

The regulatory authority also determined that the acquisition won’t be going to adversely affect the employment or competitiveness of smaller firms contained throughout the industry.

CAK said: “The office also stated that the contract does not pose a threat to jobs or competitiveness to small companies, two of the key fears related to the law to Kenya. The parties indicated that they would not cause any losses of employment from the takeover.”

According to the Nigerian tycoon, it’s value $ 23.2 billion. Vast business empire dangot Include Dangote Cement, a serious cement producer on the continent with operations covering 10 African nations. His investments also include the production of fertilizers in Nigeria and the recently operational refinery of Dangot.

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The acquisition of Pollman by the entity supported by Danggot signals diversification to the promising tourism market in Kenya.

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This article was originally published on : www.blackenterprise.com
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