Black Business. Black Culture. Black Thought. Black Love.

Tag archive

bank

Billionaire Patrice Motsepe to form South Africa’s first Black Owned Bank

in All Posts by
Patrice Motsepe

Billionaire Patrice Motsepe is one of South Africa’s richest men. He’s also the first Black African on the Forbes list. In 2016, he launched a private equity firm, African Rainbow Capital (ARC), focused on investing in Africa. Last week, it was announced that ARC is set to acquire TymeDigital, a South African bank with a strong…

Keep Reading

Chicago Deposits $20 Million Into Its Last Black-Owned Bank

in All Posts/Black Culture by
chicago

Chicago City Treasurer Kurt Summers announced Monday a $20 million city deposit into Chicago’s last remaining black-owned bank, Illinois Service Federal (ISF) Savings and Loan. The deposit will help fund loans under an overhauled business plan for ISF, which is intended to strengthen its service to underserved communities in the Chicago area. “As a lifelong…

Keep Reading

The First Woman Bank Founder Was Black. She Just Got Her Own Monument

in All Posts/Black Culture by
first woman

Maggie Lena Walker was the first woman of any race to start a bank. St. Luke’s Penny Savings, gave loans to Black business owners and residents at fair rates, then recycled the interest earned to keep building the community. In 1901  Maggie is quoted as saying, “First we need a savings bank. Let us put our moneys…

Keep Reading

Black Bank To Receive $1 Million From Billionaire

in All Posts/Black Money by

Billionaire Democratic gubernatorial candidate J.B. Pritzker is making a $1 million deposit in Chicago’s last remaining Black owned bank. As we reported earlier this year, Chicago’s Seaway Bank & Trust failed, leaving Illinois Service Federal Savings as the last Black owned bank left in Chicago. The Announcement Pritzker hinted towards the investment earlier this week…

Keep Reading

Chicago’s Largest Black Owned Bank has Closed

in All Posts/Black Money by
bank

Chicago has lost several Black-owned banks in the last few years, including Highland Community Bank and Covenant Bank. Unfortunately, another has joined the list. Seaway Bank & Trust, the largest Black owned bank in Chicago, was shut down Friday by the Illinois Department of Financial and Professional Regulation. In 2011, Seaway took over Milwaukee’s Legacy…

Keep Reading

6 Black Owned Banks in the UK

in All Posts/Black Money by
Black owned banks

Several members of the Shoppe Black community in London and surrounding areas have reached out to us asking if we know of any Black Owned banks in the UK. The short answer: Of course we do! The long answer: The full effect of July’s Brexit decision is yet to be seen.  Financial experts are watching…

Keep Reading

32 Black Owned Businesses in Philadelphia

in All Posts/Shopping Guide/The States by
Black owned

I recently moved to Philadelphia and I must say, as someone who loves art and food, the City of Brotherly Love doesn’t disappoint. Apart from great restaurants and hole in the wall “hood spots”,  the city has a thriving art scene and an up and coming tech startup scene. Check out some of the many…

Keep Reading

Go to Top