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Tyra Banks Expands Her Hot Ice Cream Business Venture To The US

Tyra Banks is introducing her “Hot Mama” hot ice cream to the United States, with the dessert’s debut planned in New York City this winter, Parade reports. The product, part of Banks’ SMiZE & Dream ice cream brand, was first released in Australia, in late September. Unlike traditional ice cream, “Hot Mama” is served warm and designed to be sipped rather than scooped, according to the outlet. The dessert’s smooth, creamy texture and unexpected temperature quickly gained attention online following its international debut.   View this post on Instagram   A post shared by SMiZE & DREAM (@smizeanddream)   “At first, we tried just heating standard ice cream bases, but they turned sticky, gloopy, or too thin,” Banks said in a press release, per Business Insider. “The breakthrough came when we found the perfect viscosity — not too thick, not too thin — where hot ice cream still felt as dreamy as cold ice cream.” Parade notes that Banks and her team are working with several partners across...

Oct 14, 2025

Cheryl McKissack Daniel Is Carrying On Her Family’s Legacy — Leading the Nation’s Oldest Black-Owned Construction Firm

Cheryl McKissack Daniel is president and CEO of McKissack & McKissack, the nation’s oldest Black-owned architecture , construction, and engineering firm, according to UATL. The McKissack family has helped to build over 6,000 projects nationwide, with around 50 recognized as historic landmarks, the outlet reports. Although McKissack Daniel’s company is based in New York, she has partnered with Atlanta-based H.J. Russell Construction Company — a 70-year-old Black-owned, family-run construction firm — on the expansion of the Metropolitan Atlanta Rapid Transit Authority (MARTA). McKissack Daniel noted that her team’s risk analysis expertise complements H.J. Russell’s project work. She praised Atlanta for supporting Black construction designers and investing in projects that expand accessible transportation for communities. “I think (public transportation) definitely affects the economics of a group of people if they can’t get to where they need to get at a reasonable cost,” McKissack...

Sep 18, 2025

Issa Rae Says ‘Impulsivity’ Almost Cost Her All Her Savings After Proceeding With A Project That Lacked Full Investor Buy-In

Issa Rae is opening up about a pivotal moment in her career that nearly drained her savings. In her new essay collection, “I Should Be Smarter Now,” the 40-year-old “Insecure” creator reflects on how her impulsivity has influenced her career in Hollywood. “My impulsivity, the character trait I’ve benefited from and paid dearly for, is both a gift and a curse,” Rae wrote, according to Us Weekly. “The gift is that I can be fearless in the pursuit of anything I want to achieve…The curse is, of course, that I don’t properly think through the consequences of my actions,” Rae continued. Rae pointed to 2014 as one of the toughest periods, when she and producing partner Deniese Davis tried to launch three TV pilots at once, per Us Weekly. Despite having an early interest, they didn’t secure investors before moving forward. “I was so excited about our undeniable idea and confident that we eventually would [find investors], so we proceeded anyway,” Rae shared with Us Weekly. “We found some...

Aug 27, 2025

Sahel Capital Secures $10M From Mastercard Foundation Africa Growth Fund To Grow African Agri-SMEs

The Social Enterprise Fund for Agriculture in Africa (SEFAA), managed by Sahel Capital, has secured a $10 million investment from the Mastercard Foundation Africa Growth Fund, according to a LinkedIn post. The fund is managed by MEDA (Mennonite Economic Development Associates) in Mauritius. A press release further notes that the investment will allow SEFAA to expand support for small and medium-sized agribusinesses (agri-SMEs), creating 10,000 jobs across 13 sub-Saharan African countries. These businesses, often excluded from traditional financing, play a critical role in empowering smallholder farmers and generating income opportunities for women and youth. “Since the inception of the fund in 2021, we have processed 33 facilities to 18 companies in seven countries in sub-Saharan Africa,” said Mezuo Nwuneli, managing partner of Sahel Capital, in the release. “This $10 million commitment from the Mastercard Foundation Africa Growth Fund, through MEDA Mauritius, is a testament to our...

Aug 26, 2025

This New Platform Aims To Close Africa’s Funding Gap For Women Founders

The LaunchPad, a new platform by Alami Capital with the National Information Technology Development Agency (NITDA) and the Securities and Exchange Commission (SEC), will debut at GITEX Nigeria 2025, spotlighting women founders and addressing Africa’s funding gap for women-led startups, according to a news release. Across Africa, women own 27% of businesses and contribute 13% of the continent’s GDP, per the release. Yet, they only receive 7% of total venture capital funding. The LaunchPad aims to change that by deploying $250,000 in catalytic capital to five selected ventures after the event, per the release. Along with funding, founders will receive mentorship, regulatory readiness, and connections across the ecosystem to help their companies scale. “Who gets funded determines what gets built, and what gets built will define the economic future of Africa,” Kashifu Inuwa Abdullahi, director general of NITDA, said in the news release. “The LaunchPad ensures women founders are not just...

Aug 26, 2025

Caroline Wanga Departs As President And CEO Of ESSENCE Ventures

Caroline Wanga is stepping away from her role as president and CEO of ESSENCE Ventures. Wanga, who took the helm of the company in 2020, had been on a health-related leave since September 2024. ESSENCE, the widely known Black media company, announced her departure in a news release nearly a year later, on Monday, Aug. 25, 2025. “We are profoundly grateful to Caroline for her leadership, vision, and unwavering advocacy of Black women and culture,” said Richelieu Dennis, founder and chairman of ESSENCE’s parent company, Sundial Technology & Media Group. With hearts full of appreciation, we share that President & CEO Caroline Wanga will not be returning to her role as she embraces her next chapter — one guided by purpose, conviction, and continued impact. Arriving at Essence Ventures in 2020, she took the helm during a moment of… pic.twitter.com/I2aeEf8Ane — ESSENCE (@Essence) August 25, 2025 “Her expertise in culture, equity, and organizational change has fueled progress across the...

Aug 26, 2025

Founding Director Jo Opot Leads Rihanna-Backed Gather Ventures, Which Is Investing In African-Led Businesses Building Climate Resilience

When Jo Opot was just 13 years old, she spent her school holidays managing her family’s small roadside food shack in Nairobi, Kenya. She’d start her days before sunrise cleaning vegetables and end them late, balancing the books and paying workers. “I have never worked so hard and earned so little,” she said in an interview with AFROTECH™. Those early days taught her about grit, resilience, and the struggles that small business owners face, especially women trying to make ends meet with limited support. Fast forward to today, and Opot is Founding Director of Gather Ventures, an impact fund with a mission close to her heart: investing in “ventures that both create climate resilience and drive asset creation for women and girls across Africa.” With a background that spans the United Nations, social innovation fellowships, and roles at TerraCycle and Acumen, she’s combining global experience with deep local understanding to make a difference. Why Climate Action And Women’s Empowerment...

Jul 21, 2025

Liquify, A Woman-Owned Trade Financing Platform, Raises $1.5M To Scale Across Africa

A woman-owned trading finance platform is now positioned to scale its footprint in Africa. Liquify Established in 2023 by Nadya Yaremenko and Alberta Asafo-Asamoah, the Ghanaian company is the “f irst fully digital trade finance platform on the continent,” its website mentions. It exists to connect small and medium-sized enterprises in Africa with capital markets across the globe. The Condia reports that the platform allows exporters to turn unpaid invoices into cash in the same day while investors can tap into a high-yielding asset class with the added perks of short maturities and low market correlation. What’s more, Liquify has integrated AI into its due diligence process to create more competitive rates for exporters selling to investment-grade buyers along with lower operational costs. “We built Liquify to unlock the $120 billion trade-finance gap holding back Africa’s most dynamic SMEs,” Yaremenko (CEO) said, according to The Condia. $1.5M Raise Liquify has already financed $4...

Jul 9, 2025

HarbourView Equity Partners, An Investment Firm Founded By Sherrese Clarke Soares, Raises $500M In Debt Financing Backed By KKR

HarbourView Equity Partners just landed a major financial boost to supercharge its growing empire. The Black-founded investment firm, led by Sherrese Clarke Soares, has secured $500 million in debt financing from KKR, according to a press release. The funds will be used to expand the firm’s portfolio of music, media, and sports-related intellectual property. The financing was structured by Barclays, with Barclays and KKR Capital Markets serving as placement agents and Fifth Third Bank as passive placement agent. “We are thrilled to have KKR’s continued support as we further scale the firm,” Soares said in the press release. “This additional capital will help us accelerate our strategy to align with where the media, sports, and entertainment markets are headed. We see a tremendous opportunity to continue investing in evergreen intellectual property, which we believe is historically uncorrelated to broader market volatility and forms a powerful diversification tool.” The new capital...

Jun 11, 2025

Women CEOs Reach Record High On 2025 Fortune 500 List, But With Only 2 Black Women Listed Representation Is Still Lacking

For the first time in its 71-year history, the 2025 Fortune 500 list shows that women lead 11% of the largest U.S. companies by revenue. Surpassing the 10% mark is a historic milestone in corporate leadership, Fortune reports. Now 55 women serve as CEOs of Fortune 500 companies, up from 52 in both 2023 and 2024. While this is positive news, only two of the 55 women are Black: Thasunda Brown Duckett, CEO of TIAA, and Toni Townes-Whitley, CEO of Science Applications International Corp. Historic Progress, But Representation Gaps Remain The rise in women-led companies is largely due to internal promotions. Per Fortune, companies such as Freeport-McMoRan, Principal Financial Group, Ulta Beauty, U.S. Bancorp, J.B. Hunt Transport, and Marathon Petroleum Corp. all appointed women from within their executive ranks to the CEO role. Notably: Kathleen Quirk was promoted from CFO to CEO at Freeport-McMoRan. Deanna Strable-Soethout now leads Principal Financial Group. Kecia Steelman was elevated...

Savannah James Expands Her Entrepreneurial Empire With A Skincare Line That Aims To Reframe How Clinical Skincare Is Viewed

Savannah James — podcast host, entrepreneur, and mother of three with husband LeBron James — is expanding her growing portfolio with Reframe, a skincare brand backed by two years of research and proven results. Released on May 15, 2025, Reframe enters the beauty space with three core products: the Pigment Processor, a daily brightening serum priced at $115; Compression Complex, a facial sculpting moisturizer for $95; and Circadian Cream, which is an overnight collagen moisturizer that costs $135. In an exclusive interview with PEOPLE Magazine, James shared that her passion for skincare dates back to at least middle school, when she would watch her mother apply Noxzema to her flawless skin. Reframe was born from a desire to shift how clinical skincare is seen, experienced, and presented.   View this post on Instagram   A post shared by The Cut (@thecut) “I really love clinical skincare. But it’s not always cute, and it’s not always really innovative,” James told PEOPLE. “So I think...

May 19, 2025

Aruwa Capital Management, A Woman-Led Firm Based In Lagos, Nigeria, Raises 90% Of Its Fund II Target

Aruwa Capital Management, one of Africa’s few woman-led private equity firms, has secured $35 million for its second fund to invest in inclusive, impact-driven businesses across Nigeria and Ghana, according to a press release. Aruwa Capital Fund II drew backing from major institutions, including the Mastercard Foundation Africa Growth Fund (MFAGF), Visa Foundation, British International Investment (BII), and Nigeria’s Bank of Industry (BOI), the fund’s first local institutional investor, based on the release. It also attracted capital from global family offices and others with a target of $40 million. However, that number has since changed to $50 million, with a hard cap of $60 million. “In the midst of the current challenging fundraising environment, we are excited to have raised 90% of our target fund size for Fund II and to be upsizing due to strong investor interest,” said Adesuwa Okunbo Rhodes, founder and managing partner of Aruwa Capital Management, in a press release via her...

Dr. Christine Izuakor Launched A Marketplace Connecting Small Business Owners To Top Cybersecurity Experts

Dr. Christine Izuakor is making it easier for people in technology to forge meaningful connections. The Houston, TX, native is a cybersecurity professional with over a decade of experience leading cybersecurity functions at Fortune 100 companies. Her career journey could have looked very different had she pursued the medical field, a path favored by her Nigerian parents. However, she “failed miserably” in her attempt to become an eye doctor. Her pivot came after taking a course on encryption, which sparked her interest in cybersecurity. “I immediately switched my major and went on to earn a Ph.D. in security engineering. From there, I spent about 10 years leading different security functions at United Airlines, was a graduate cybersecurity professor, and so that’s what really kind of got me into this space and then allowed me to grow,” she told AFROTECH™ in an interview. Cyber Pop-up Today, Izuakor works part-time as an adjunct professor in cybersecurity at various schools and...

Apr 17, 2025

Community Advocate Corenza Townsend Is Why Louisville’s Majority-Black West End Now Has Its First Hospital In Over 150 Years

Chief Administrative Officer Corenza Townsend has opened a hospital in Louisville, KY. According to CBS News’ “Eye On America,” the idea was first planted eight years ago when Townsend was working as a nurse manager at a hospital in the Norton Healthcare system. She boldly pitched the concept of opening a hospital in Louisville’s majority-Black West End neighborhood to Norton Healthcare’s CEO. “We had this plan,” Townsend explained, according to the outlet. “It wasn’t in writing yet. We happened to see Russ Cox, our CEO, walking to the bathroom. So we stalked him outside the bathroom… Nobody thought he would actually say yes. He said, yes. He just listened to us and he said, ‘Let’s do it. What do you need?'” In late 2024, the Norton West Louisville Hospital reached the finish line after a two-year-long process. Its opening is especially timely, as the area had been without a hospital for over 150 years. “The life expectancy in West Louisville is about 12-and-a-half to 15 years...

Apr 8, 2025

Costco's Board Of Directors Requests For Shareholders To Vote Against A Policy That Would Remove Its DEI Program

Costco is doubling down on its decision to maintain its DEI policies. This comes amid several major companies retracting their commitments, such as Google. CNBC reported that Google had established new programs to empower Black staffers following the murder of George Floyd in 2020. At the time, its CEO, Sundar Pichai, stated the intention “to build sustainable equity for Google’s Black+ community, and externally, to make our products and programs helpful in the moments that matter most to Black users.” The company aimed for a benchmark of 30% of leadership being composed of underrepresented groups by 2025. However, in the years since, Google has fallen significantly short of that goal by reducing staff and shrinking programs related to diversity, equity, and inclusion (DEI), as has its parent company Alphabet. By mid-2023, DEI job postings by companies in general were showing a downward trend. Job site Indeed offered data that revealed a drop of 44% in postings compared to the...

Dec 31, 2024

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