Amira Rasool’s B2B marketplace platform, The Folklore, has achieved another remarkable milestone.  The Folklore has secured $3.4 million in a seed funding round, bringing its total funding to $6.2 million. The funding will fuel further growth and expand the services offered to brands on the Folklore platform. Benchstrength, a VC firm founded by ex-General Catalyst partners Kenneth Chenault Jr. and John Monagle, led the funding round. Existing investors Slauson & Co, Techstars, and Black Tech Nation Ventures participated. “Benchstrength is thrilled to invest in The Folklore,” Benchstre ..read more

Canadian pre-seed venture fund Panache Ventures has partnered with African-focused fintech startup Kora. The partnership will help African tech founders to access venture capital funding. The collaboration announced at a recently concluded event in Lagos, Nigeria, is in response to the challenges that entrepreneurs in the region face, which impede their growth and operations. Facilitating The Growth of Venture Capital in Africa  Panache Ventures and Kora will focus on providing African tech startups with resources such as mentorship, partnerships, and direct guidance on securing venture c ..read more

TechCabal, a leading African tech publication, has released its latest ‘State of Tech in Africa Report.’ One of the main findings of the report is that in Q1 2024 African startups prioritized profitability as they raised $466 million in 2024 Q1; a 45.62% reduction compared to Q1 2023. Published by TC Insights, TechCabal’s data, research, and intelligence unit, the ”State of Tech in Africa” report is a quarterly publication that gives a bird’s-eye view of technology trends in Africa. The Q1 Report, themed “Charting a path to profitability,” provided a comprehensive round-up on the funding winte ..read more

One of West Africa’s age-long debates, the Jollof rice dispute, might finally be resolved soon. Chase Bank has unveiled a campaign film called “A Taste of West Africa.” The film features Nigerian cross-continental Chef Tolu Eros, Black Panther star Michael B. Jordan, ESPN analyst and WNBA player Chiney Ogwumike, former NBA player Pops Mensah Bonsu, producer Sarz, and others.  The short film was masterfully directed “by Oscar-nominated cinematographer Bradford Young.” Taste of West Africa was released on Monday this month in consumer markets while reaching global audiences via social ..read more

In an innovative move to address the industry’s diversity gap, Dark & Lovely, The Sims franchise, and esteemed gaming content creator Danielle “Ebonix” Udogaranya have formed a transformative alliance. Their collective mission is to empower Black gamers by creating new avenues for genuine self-expression within virtual worlds. The Play in Color Initiative Central to this collaboration lies the ‘Play in Color’ initiative, a multifaceted endeavor dedicated to championing diversity and self-expression in gaming. At its core is a powerful social documentary shedding light on the experiences of ..read more

Legendary American tennis player Serena Williams is doing groundbreaking work with her venture capital firm, Serena Ventures. Before announcing her retirement as a professional tennis player in September 2022, Serena Williams had been involved in the world of investments. Building on over a decade of experience, Williams established Serena Ventures in 2014, a venture capital fund supporting women and underrepresented founders. However, the 42-year-old Ohio-born tennis legend recently made an astonishing revelation about her business enterprise. Serena Williams’ Investment Philosophy In a recen ..read more

In recent years Ghana has emerged as one of the hottest destinations for Africans in the diaspora. The relatively small West African country is experiencing a huge surge in popularity, particularly among Black Brits and African Americans. This new wave of visitors peaked in 2019, coinciding with The Year of Return. The year-long campaign by the Ghanaian government encouraged African diasporans to visit, invest, and even permanently settle. The campaign, launched to mark the 400th anniversary of slaves arriving in Jamestown, Virginia, saw a significant increase in UK and US visitors. One of the ..read more

Forbes has released its annual World’s Billionaire list and Nigeria’s Aliko Dangote is the richest black man on the planet.  Only a handful of the 2,781 billionaires on the list were black. Robert F. Smith is the highest-ranking black American, with an estimated net worth of $9.2B. David Steward is another black American who made it into the top 1000.  Still, Michael Jordan, Oprah Winfrey, and Jay-Z made the top five in the World’s Celebrity Billionaires 2024 list. Michael Jordan, who made most of his wealth from endorsement deals with Nike, Hanes, and Gatorade, is worth $3.2B.  ..read more

Meta will enable content creators in Nigeria and Kenya to monetize their content on Instagram and Facebook starting in June 2024. Meta’s initiative, which will see creators earn money through ads and other features, is a move by the global technology company to keep the country’s top content creators on its platforms. Creators can run ads in-stream and Instagram gifts, enabling users to buy digital tokens supporting their favorite content creators. “Nigerian creators have global reach,” Nick Clegg, President of Global Affairs at Meta, told some of Nigeria’s top creators in their Lagos office ..read more

Frobelles, the UK’s first afro-hair-championing dress-up game, launches in the U.S. today. Founded by mother-and-daughter duo Yvonne Ottley and 12-year-old Alyssa, the award-winning app aims to increase the representation of gaming characters. the goal is to educate, empower, and celebrate curly, coily-hair, and natural hair. The game is fun, and educational, and was created as an empowering solution to a problem: the lack of representation in the content consumed by young children can damage their self-esteem. Alyssa was just six years old when she asked her mum why none of her game character ..read more