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A scholarship that provided assistance to HBCU students will no longer exist. In 1992, the U.S. Department of Agriculture (USDA) created the 1890 National Scholars Program through a collaboration with 1890 land-grant universities, which refer to the 19 Historically Black Colleges and Universities (HBCUs) that benefited from resources established by the Morrill Acts of 1862 and 1890, according to Montana State University. The first act was established to ensure broader access to education in agriculture, military tactics, and engineering for the working class, and the second act provided further funding to include HBCUs. As for the 1890 National Scholars Program, it aims to increase representation at these schools by funding students, particularly from rural and underserved communities, i n food, agriculture, natural resource, and other related sciences, according to the USDA website. Recipients benefit from full tuition, fees, books, and room and board. Eligibility requirements...
Allow your money to work for you. Financial experts Carter Cofield and George Acheampong are bridging the gap in financial literacy among Black entrepreneurs and professionals. Through their platform, Melanin Money, they aim to close the $100 billion wealth gap and help their users achieve their first seven-figure net worth, its website notes. As AFROTECH™ previously reported, the platform launched as an e-commerce brand but scaled into a financial social network in 2017. It offers courses on personal finance, wealth building, and entrepreneurship led by educators. In 2024, these workshops reached 20,000 people. “We decided to create this hybrid educational model where every other month we’re basically doing a virtual conference where people who may be not in a position to hire an advisor or are curious if an advisor is right for them, they get to learn our top strategies over the course of five days,” Acheampong said on the “Black Tech Green Money” podcast, which AFROTECH™ Brand...
African fintech platform Mansa has secured new funding. Mansa, founded in 2023 by Mouloukou Sanoh (CEO) and Nkiru Uwaje (COO), enables seamless cross-border payments and instant transactions for its customers. Its offerings include competitive exchange rates, virtual card processing to support cash flow management, and automated matching of financial transactions to bank statements. This is made possible by leveraging a stablecoin infrastructure, its website mentions. “We’re starting by being the primary liquidity provider to the biggest payment companies across emerging markets,” Sanoh explained to TechCrunch. “From there, we can handle payouts and also offer additional services like foreign exchange. The goal is to create a one-stop payment platform where they can finance their payments, settle transactions instantly, and access foreign currency seamlessly — all in one place.” The inception of Mansa, based in Dubai, UAE, originated from Sanoh experiencing issues receiving money...
Floyd Mayweather reportedly has an interest in another major investment move. As AFROTECH™ previously told you, the boxing champion closed a real estate deal valued at $402 million in October 2024. The investment encompasses over 60 buildings with over 1,000 units in New York, NY, and its purpose is to establish affordable housing in the city. “Growing up, I used to dream about owning just one home by myself. When you work hard, you can achieve anything,” Mayweather told TMZ. Mayweather also has a stake in nine skyscrapers in partnership with SL Green and established real estate firm Vada Properties. He committed to investing $100 million in equity to support a $3 billion luxury rental portfolio alongside Go Partners. His latest moves include potentially extending his portfolio to secure a stake in the New York Giants. According to TMZ, he is leading a group that intends to acquire a security minority stake valued at 10%, amounting to around $700 million. Currently, a proposal is...
T-Pain is the next artist to cash in on his publishing and masters. Variety reports that the Grammy-award winning artist, who has secured 10 Billboard Hot 100-charting singles, sold his publishing catalog and select masters to HarbourView Equity Partners. It is unclear at this time which songs are included in the deal or how much the purchased price was. The announcement also coincides with the 20th anniversary of several T-Pain songs such as “Buy U a Drank (Shawty Snappin’),” “Bartender (featuring Akon),” “I’m N Luv (Wit a Stripper) (featuring Mike Jones),” Flo Rida’s “Low,” and “I’m Sprung,” among others. “I’m excited for this next chapter and to partner with HarbourView Equity as they help preserve the legacy of my music,” T-Pain said . “This catalog represents years of hard work, creativity, and unforgettable moments, and I’m grateful to see it continue to reach new heights. I don’t plan on stopping anytime soon.” HarbourView Founder and CEO Sherrese Clarke commented: “We are...
The power of representation led Omar Johnson to recognize his potential as a marketer in the technology sector. As AFROTECH™ previously told you, Johnson developed an interest in the field and discovered his passion for marketing. This motivated him to earn an MBA from Emory University in 2004, which paved the way for his career at Nike. He joined the company as an assistant brand manager in 2005 and, within two years, was promoted to content manager for advising and innovation. During his tenure at Nike, he was inspired by Trevor Edwards, who served as chief marketing officer before advancing to executive vice president of global brand and category management from 2003 to 2013. Edwards later became president of Nike Brand, a role he held until 2018. “One of my mentors, his name is Trevor Edwards, he was a president at Nike when I met him…Knew every part of the world that mattered when it came to culture and led this beautiful and big magnanimous way,” Johnson said on the “Black...
The right circle can change your circumstances in the blink of an eye! Calling all early-stage, pre-seed, and seed founders — join the AFROTECH™ Insider Founders Circle to build for the future alongside a network that could lead to your next investor or co-founder. This membership aligns with our mission to empower Black entrepreneurs with the tools to succeed and drive innovation across industries, including fintech, medtech, and consumer tech. “At AFROTECH™, we strive to help make a difference and change the narrative regarding raising capital, starting and scaling a startup, and networking with the right people to help grow your business,” Blavity Chief Revenue Officer Michael Hadgis said on LinkedIn. “We created the AFROTECH™ Insider Founders Circle to help founders navigate the path and their business pitch become investor-ready!” Perks The sky’s the limit! Your direct participation in the AFROTECH™ Insider Founders Circle gives you access to exclusive perks, including office...
MYAVANA is bringing its hair care technology to Africa. Candace Victoria Mitchell is the mastermind behind the company, which launched with a $1,000 investment and a vision to ensure improved hair health for Black women, as AFROTECH™ previously told you. “Originally, my ‘why’ was really to provide a more personalized approach for people to really be seen and heard in the beauty industry,” Mitchell said in an interview with AFROTECH™. “Because, at the time, there were not many products catered to women of color or textured hair. And it just felt like it was just a huge oversight, and we were just kinda out there figuring it out on YouTube. I feel that hair is deeply connected to our purpose and identity, especially in Black culture. So my ‘why’ was just deeply rooted in people understanding who they are and also having the technology that could cater to our personalized journeys.” Technologies released include MYAVANA HairAI, which provides a detailed hair analysis followed by...
Paula Wright has built an empire of McDonald’s restaurants, having made history at the start of the franchise era. According to MetroWest Daily News, Wright and her late husband, Don, became New England’s first Black McDonald’s franchisees in 1984. Before venturing into the fast-food industry, she had a career in technology at IBM. “A co-worker of mine, her husband was in the business,” Wright told the outlet. “That’s how Don and I got involved.” Their first location was in a newly built mall in downtown Boston, MA. However, the business did not fare well due to low foot traffic, with capacity never more than 60%. “There just weren’t enough people there,” Wright recalled to the outlet. The couple then secured a second location, but once again, sales did not match their expectations, which they believe was due to construction for TD Garden, a multi-purpose arena that opened in 1995. However, success would come when they moved into the suburbs. “We lived in Sudbury (MA), so when we...
Beyoncé Knowles-Carter has done it again. Cécred The iconic entertainer, who earned her first Grammy in the prestigious album of the year category for “Cowboy Carter” in 2025, shows no signs of slowing down. Her influence stretches far beyond music and into the business world, where she has made a significant mark in the haircare industry. As AFROTECH™ previously reported, the Houston, TX, native launched the science-backed and self-funded haircare brand Cécred, drawing inspiration from her early years spent at her mother Tina Knowles’ salon. This venture highlights her entrepreneurial spirit and deep connection to the beauty industry. “Hair has always been a very big part of our lives,” Tina, who served as Cécred’s vice chairwoman, told Essence. “Just as fashion saved our family, hair is how we made a living.” The inception of Cécred was six years in the making. Its hair repair technology has led to its first line of products, which includes Clarifying Shampoo and Scalp Scrub...
Cherryrock Capital has raised $172 million to support diverse founders. The venture capital firm, founded in 2023 by Stacy Brown-Philpot (Managing Partner) — head of Alphabet Inc.’s online sales and operations in India and board member at HP Inc., StockX, and Noom Inc. — provides Series A and B funding to underrepresented founders of software companies driving innovation, according to its website. The VC firm, backed by a team with over 60 years of operating experience, has closed its first fund at $172 million, Bloomberg reports. “Today, I’m thrilled to announce the launch of Cherryrock Capital, the first fund focused on investing at the Series A & B stages in underinvested entrepreneurs …Cherryrock Capital is about being the foundation of success for the next generation of entrepreneurs…We’re on a mission to change the face of wealth creation and build an enduring institution. We are looking for founders who have the courage to be audacious in their vision, accountable to their...
Joanna Brooks has been creating a safe wellness studio for people of color for the past 10 years. She developed an interest in yoga as a teenager and, over time, explored different areas of fitness, she wrote in her LinkedIn bio. This exploration influenced her practices, which include Bikram Yoga, Hot Vinyasa Flow, Vinyasa Flow, Ashtanga, and Yin Yoga, ultimately leading to the establishment of Embody YOGA studio in Milwaukee, WI. “These styles contribute significantly to my teaching style. I am experienced in leading both group and private classes and enjoy working with people of all ages. My intention is for my students to leave class with a quiet sense of strength and peace,” she wrote in her bio. View this post on Instagram A post shared by Embody Yoga (@embodyyogamke) In an Instagram post shared on Tuesday, Feb. 18, Brooks honored the instructors who came before her, giving them their flowers for paving the way — including ZenZen Yoga Arts Founder Therese Bailey. “I’ve said it...
Former PepsiCo President and entrepreneur Derek Lewis has added another franchise to his portfolio. Lewis secured a deal with Big Dave’s Cheesesteaks, granting him ten locations in Central Florida, AFROTECH™ previously told you. He is also the restaurant’s first franchisee, which Derrick Hayes founded. According to information shared with AFROTECH™, Lewis celebrated the grand opening of two locations at Camping World Stadium in November 2024. “This expansion represents our commitment to bringing authentic Philly-style cheesesteaks to sports and entertainment venues across Florida,” said Derek Lewis in a news release. “We’re creating more than just restaurants; we’re building community gathering spots where food brings people together.” More recently, Lewis partnered with Philly Pretzel Factory and is spearheading its expansion throughout the Orlando area. “Soft pretzels are woven into Philadelphia’s cultural fabric, and I’ve craved their distinctive taste since childhood,” said...
Black Unicorn Factory has set a historic precedent in equity crowdfunding. Black Unicorn Factory (BUF) is a business development accelerator and equity crowdsourcing platform established by Johnny Stewart in 2012. Through BUF’s Follow Me for Equity app, it uniquely allows individuals to secure stock in pre-IPO companies by simply becoming a follower of a company through the app. “Stop following for free and earn equity,” actor Anthony Anderson said in a promotional video for the company. BUF’s target audience is underserved communities who are being left out of opportunities in the venture capital space. “It is disheartening to observe that the venture capital industry only allocates funds to a mere 1% of businesses led by individuals from underrepresented communities. At BUF, we firmly believe that this disparity cannot persist, and we are committed to providing an alternative to the discriminatory practices prevalent in the traditional venture capital landscape,” a statement on...
Howard University has received a new distinction. According to Diverse Education, the Historically Black College and University (HBCU) has earned the Research One (R1) Carnegie Classification — a first for an HBCU. Not to mention, such an accomplishment is shared with fewer than 150 universities across the country. The criteria entails that institutions allocate at least $50 million toward research and development and award a minimum of 70 research doctorates, the Carnegie Classification website states. Howard University surpassed these expectations in fiscal year 2023, allocating just under $85 million in research expenses and awarding 96 doctorates in a variety of fields — the highest number awarded to Black students at any college or university in America, according to Dr. Bruce A. Jones, Howard University’s senior vice president for research. Dr. Robert T. Palmer, the school’s chair and professor in the Department of Educational Leadership and Policy Studies, mentioned, “Howard...