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Meet Sangu Delle, one of Africa’s Most Successful Investors

Sangu Delle is a Ghanaian investor, entrepreneur, activist, and author. He has received several international accolades including being named Africa’s “Young Person of the Year”, a TEDGlobal Fellow, one of Forbes’ top 30 most promising entrepreneurs in Africa.

Sangu serves as CEO of Africa Health Holdings, an innovative company focused on building Africa’s healthcare future.

In November, African Health Holdings raised $18 million to expand its telemedicine service beyond Ghana to Nigeria and Kenya, and scale its network of health facilities.

He is also the Chairman of Golden Palm Investments (“GPI”); an investment holding and advisory company focused on building world class technology companies in Africa.

Via GPI, Sangu has been an early investor in several African tech startups including Andela and Flutterwave, two of only three West African companies valued at one billion U.S. dollars.

In this interview, Sangu and I discuss:

  • His journey from Ghana to the U.S. and back to Ghana.
  • Why he pivoted from investing in agriculture to focus exclusively on technology
  • What inspired his passion for building Africa’s healthcare future.
  • The importance of Africans and the Black diaspora collaborating on economic and social issues.
  • Advice for those interested in investing in startups based on the continent.

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Tony O. Lawson


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How is Cryptocurrency Taxed? Everything You Need To Know

Cryptocurrency continues to be the talk of the town, with the whole world watching the increasing price of Bitcoin as it hit its highest ever price twice this year. In October 2021, its price reached $64,000.

As of October 2021, the total crypto market cap reached $2.6 Trillion. With such an increase in adoption, it’s important to understand how cryptocurrency is taxed so that they can better manage their wealth.

Here in this article, we have discussed everything you need to know about how cryptocurrency is taxed.

What is Cryptocurrency?

Cryptocurrency is a virtual currency that does not depend on intermediaries such as banks. Instead, it utilizes blockchain ledger technology to store and verify transactions.

The ledger is secured using strong cryptography. Cryptocurrency is designed as the medium of exchange.

Many different types of cryptocurrencies are available globally, such as Ethereum, Dogecoin, Cardano, Aave, etc.

How is Cryptocurrency taxed?

Many people believe that the government does not back cryptocurrency; therefore, it does not involve taxation. However, that is not true. In the United States, cryptocurrency is taxed almost the same way as traditional assets.

Crypto exchanges report user activity on gains and losses to IRS (Internal Revenue Service) because the IRS treats cryptocurrency as a capital asset which one must pay tax on gains and losses.

How to calculate tax on your Cryptocurrency

Tax on cryptos depends on various factors such as:

Capital gains: When you sell crypto, and its price exceeds the original cost.

Capital loss: When you sell crypto, and its price is less than the original price.

Duration: The length of time you held the assets. The time duration of holding assets determines the gains or losses as “short term” or “long term” and are subjected to tax differently.

Short-term capital gains or losses: If you buy a Cryptocurrency and sell within 365 days, it is considered a short-term gain if the cryptocurrency made a profit.

According to IRS, the Short Term Capital Gain Tax on Cryptocurrency profits is 10% to 37% in 2021.

Tax Rate

Single Married

Head of Household

10%

$0 – $9950 $0 – $19,900 $0 – $14,200

12%

$9951 – $40,525  

$19,901 – $81,050

 

 

$14,201 – $54,200

22%

 $40,526 – $86,375  

$81,051 – $172,750

 

$54,201 – $86,350

24%

$86,376 – $164,925 $172,751 – $329,850  

$86,351 – $164,900

 

32% $164,926 – $209,425 $329,851 – $418,850

$164,901 – $209,400

35%

$209,426 – $523,600 $418,851 – $628,300 $209,401 – $523,600
37% $523,601 or more  $628,301 – more

$523,601 – more

Long-term capital gains or losses

If you own a crypto asset and sell it after one year, the difference between the sale price and purchase price determines long-term capital gain or loss.  Long Term Capital Gains are 0% to 20%, which depends on your income.

The chart below shows how cryptocurrency profits (Long Term Capital Gains) are taxed when held for more than a year.

Tax Rate

Single Married

Head of Household

0%

$0 – $40,400 $0 – $80,800 $0 – $54,100
15% $40,401 – $445,850  

$80,801 – $501,600

 

 

$54,101 – $473,750

20%

$445,851 – more  

$501,601 – more

 

$473,751 – more

 

The Bottom Line

The taxation of cryptocurrency is not as simple as it seems. Cryptocurrencies are highly volatile, therefore, challenging to determine tax. However, crypto gifts below $15,000 do not involve taxation but are subject to capital gain tax if you sell the gift. Inherited cryptos are also subject to tax like other assets.

Its also important to stress that not reporting your Bitcoin earning is considered tax evasion by the IRS, and you have to pay the penalty if you don’t pay the tax after the deficiency notice from the IRS.


Presented by CryptoShare, a lending platform that allows people to lend and borrow money without banks or credit checks.

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Africa Focused Private Equity Firm Raises $900 Million

Development Partners International (DPI), a premier investment firm focused on Africa, today announced that African Development Partners III Fund (ADP III), has exceeded its US$800 million target, and is set to hold a final close at US$900 million, with an additional US$250m of dedicated co-investment capital. This brings a total of US$1.15 billion for investments on the continent. The fundraising establishes ADP III as one of the largest funds dedicated to investing global capital in Africa.

ADP III will invest in established and growing companies in industries that benefit from Africa’s fast-growing middle class and the increasing digital transformation of the continent. All investments have the highest standards of impact and environmental, social and governance (“ESG”) work. In doing this work DPI is using its proprietary DPI Management System (“DPIMS”) toolkit to deliver impact in line with 10 of the UN Sustainable Development goals, as well as driving the highest standards of ESG.

Runa Alam, co-founder and Chief Executive of DPI commented: “Africa remains an exciting investment destination with positive demographics, rising adoption of technology, and rising consumer and business spending. Against this backdrop, DPI has continued to generate top quartile returns by leveraging our team’s deep-rooted local expertise across the African continent.

“As we look towards the future with our ADP III fund, we will focus on innovation-driven companies leading the digital transformation of the economies in which they operate. In addition, our deep integration of impact and ESG initiatives in the investment life cycle has been widely recognised and ensures we are known as a trusted partner.”

ADP III secured capital from a broad range of leading pension and sovereign wealth funds, development finance institutions, endowment and foundations, insurance companies, fund-of-funds, asset managers, and impact investors. The global investor base represents 20 countries across North America, Europe, Middle East and Africa. In addition to strong support from existing investors, DPI welcomed over 25 new LPs into its investor base. This is testament to DPI’s track record and ability to create institutional-grade investment opportunities in Africa, while continuing to deliver sustained environmental and economic impact.

Joanne Yoo, Managing Director at DPI, said, “The strong support for ADP III validates our strategic focus, creative approach and investment discipline. We are grateful for the trust that our investors have placed in DPI, and we are confident that our talented team will continue to deliver competitive returns and impact.”

ADP III has made four investments to date, including:

  • Channel VAS, a leading global fintech business providing mobile financial services;
  • SICAM, a leading Tunisian tomato producer, in one of the largest private equity transactions undertaken in the country;
  • Kelix Bio, a biopharmaceutical platform broadening access to speciality generic drugs across Africa; and
  • MNT-Halan, Egypt’s leading fintech ecosystem.

Additionally, DPI has a significant pipeline of investment opportunities across the continent, focused on key sectors of the economy such as financial services, healthcare, agri-business, education, and telecom infrastructure.

DPI places an emphasis on promoting best in class standards in ESG through its investments, with the aim of creating institutionalised high-performing companies at exit. Working with its portfolio companies, DPI seeks to contribute to the UN Sustainable Development Goals by implementing its proprietary Impact and ESG Management System based on three key impact themes: Job Quality, Climate Change, and Gender Balance.

ADP III was the first African fund signatory to the Operating Principles for Impact Management (“Impact Principles”), an international market standard for impact investing and the first to be granted 2x Flagship Fund status, as part of the 2x Challenge, a gender-lens initiative.

PJT Park Hill acted as advisor and placement agent for ADP III, and Debevoise & Plimpton LLP served as legal adviser for the Fund.

Tony O. Lawson


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$126.5 Million SPAC Formed to Acquire Black Owned Firms

Shawn Rochester is the CEO of Minority Equality Opportunities Acquisition Inc. (“MEOA”) the first minority-led special purpose acquisition company (SPAC) listed on the Nasdaq.

The company will focus its search and transactions on historically undercapitalized minority-owned/controlled businesses in various industry sectors across the country.

In this episode, Shawn discusses:

  • Being the only SPAC working with a Black owned bank
  • MEOA exceding its initial $100M goal and and raising $126M
  • How his company plans to help Black businesses grow through aquisition
  • What MBE’s need to have in place in order to qualify as an ideal investment
  • The need for more Black capital providers and Black led investment firms
  • The cultural disconnect that prevents some non Black firms from investing in Black companies.
  • The importance of building a well capitalized business infrastructure in the Black community
  • The inspiration behind his book “The Black Tax: The Cost of Being Black in America”

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Tony O. Lawson


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Barbershop App theCut Raises $4.5M, Has Helped Barbers Generate $500M in Revenue

theCut is a mobile platform for barbers and clients modernizing the barbershop experience. Today, the company announced that they have raised $4.5 million in new funding.

The Northern Virginia-based startup provides information and reviews on barbers for potential customers while also helping barbers manage mobile payments, appointments, and other back end tasks.

Clients can easily search for and discover new barbers, then book and pay for haircuts at their convenience. After completing an appointment, clients can review the barber and shout out a job well done.

Barbers can then manage all those clients, appointments, and payments with one easy to use tool.

Founded in 2016 by high school best friends, Obi Omile Jr. and Kush Patel, theCut has successfully booked 2 million appointments by over 350,000 clients who visited 22,000 barbers across the country. This has helped barbers generate more than $500 million in revenue since the app launched.

Nextgen Venture Partners led the funding round and was joined by Leadout Capital, Elevate Ventures, and Singh Capital. This brings total funding to $5.35 million.

The new investment will be used to hire additional talent, marketing and grow the business across the country.

Tony O. Lawson


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Breakr Raises $4.2M to Amplify New Artist’s Music With The Help of Influencers

Breakr is a music marketing marketplace startup founded in late 2020. It recently announced that it has raised $4.2 million in seed funding. The announcement comes after Breakr has garnered attention from a long list of investors, including rap artist Nas.

“Independent artists have more opportunities than ever to break through, but those opportunities have required busywork that should’ve been solved already,” said Breakr’s co-founder and CEO, Tony Brown, in a recent interview. “Problem 1? Spending all day messaging to try and get your song heard. TikTok influencers have been pushing songs to the top of the charts, and with the shift to Twitch and Instagram Live DJ sets during the pandemic, we knew the world needed a solution.”

The app will serve as a marketplace where up-and-coming artists can connect with social media influencers and get their music heard, while influencers get paid to host listening sessions. Breakr has already produced over 150 million views for independent artists, put thousands of dollars into influencers’ pockets.

“We’ve worked with companies as big as Warner and Sony, as small as the SoundCloud rapper, and everybody in between,” mentioned founder and head of Product Ameer Brown, who formerly worked at Adobe.

The founders, including Ameer Brown, Dan Ware, and Rotimi Omosheyin, met while attending Florida A&M University. The group of studies witnessed the power of one-to-one communication and word-of-mouth marketing by promoting successful parties on campus.

“I immediately knew it would be the future. Having cultural icons like Erykah Badu and Dave Chapelle rock with my music and amplify me on their platforms was major for me. Now, with Breakr, we can make this happen for artists and influencers at every level,” said Tobe Nwigwe, an artist and one of Breakr’s co-founders.

As the world of music business and commerce continues to change, we’ll look to startups like Breakr to provide a solution to monetization for both artists and influencers alike.

Written by Reese Williams


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Collab Capital Raises $50 Million To Invest In Black Founders

Collab Capital is an Atlanta-based investment firm on a mission to establish an institution that provides a viable pathway to sustained wealth for the Black community.

In 2018, the firm launched with $2 million in capital, a $50 million target, and a mission to focus on investing in Black founders specifically.

Despite being told that their focus on Black founders was too narow and that there aren’t enough qualified Black founders to back, Collab Capital perservered and today announced that they have now raised over $50M to invest in the best Black led early stage startups over the next few years.

Black founders
Collab Capital founders: Barry Givens, Jewel Burks Solomon and Justin Dawkins

Backers include Apple, Goldman Sachs, Google, The Andrew W. Mellon Foundation, Mailchimp and PayPal, making it one of the largest funds closed from an entirely Black-led firm solely committed to Black founders.

The firm will invest in 50 startups across the US over the next 3–5 years. The majority of the investments will fund companies in cities like Atlanta,  DC, Houston, Detroit, St. Louis, and New Orleans, which have a high concentration of Black entrepreneurs and a low concentration of risk capital.

Tony O. Lawson


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Upsie Raises $18.2 Million To Offer Lower Priced Consumer Warranties

Upsie is a more affordable warranty option for your electronic devices, appliances, and fitness equipment. They offer the same warranties and coverage as other companies and cost up to 70% less.

“I’m sure you’ve walked into a Best Buy or a Target, and when you’re checking out somebody at the register is offering you a warranty. But what most customers don’t know is that you’re paying as much as 900% more for that warranty than you should,” Upsie founder Clarence Bethea told TechCrunch.

upsie
Upsie founder, Clarence Bethea

“There’s no transparency at the register and you never get to ask what’s covered and what’s not covered, or what should you do if you need to make a claim.”

Upsie just finalized an $18.2 million Series A round that Bethea hopes will encourage other Black founders.

“Getting more dollars to Black and Brown founders is always top of mind in conversations—there’s still such a deficit,” Bethea said. “Today represents that it’s possible.”

True Ventures, a Silicon Valley-based firm, was the lead investor in the round. Other Twin Cities-based firms such as Matchstick Ventures and Bread & Butter Ventures also participated.

Tony O. Lawson


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Black Journalist Creates App To Help Viewers Connect and Review Favorite TV shows and Films.

PopViewers is an app that allows fans to connect and critique all of their favorite TV shows and films.

With user-generated content scores and reaction videos, PopViewers is ultimately shifting how we engage with content online and helps content providers when developing new movies and tv shows.

popviewers

They want to democratize the voices of those who watch, consume, and pay for all of this entertainment and empower them to get into the boardroom and pull up a chair at that table.

In this interview, I spoke with founder Chris Witherspoon about how Pop Viewers can be used to empowering Black creatives. We also discussed how PopViewers can help bring more diverse voices and opinions to Hollywood.

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Tony O. Lawson


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Black Data Scientist Creates a Digital Wallet For Lending and Borrowing Cryptocurrency

The World Data Science Institute is an SEC-registered financial data science research and development company. They develop Blockchain and financial technology applications.

So far, the startup has raised over $145,000 to launch its flagship product, CryptoShare. CryptoShare is a digital wallet and peer-to-peer lending app that provides the unbanked and credit challenged with the ability to borrow money.

THE PROBLEM

According to Fico statistics, African Americans have the lowest credit scores and are declined for loans three times as much as white applicants. Nearly 30% of African Americans and Hispanics do not have a bank account at all!

African Americans and Hispanics are also disproportionately forced to use high-interest cash advances and pawnshop loans that can be up to 500%.

This clearly shows that an inexcusable amount of African Americans and Hispanics do not have access to adequate loan products.

THE SOLUTION

CrypstoShare replaces the need for a bank account (think Paypal) and allows peer-to-peer lending to be done within the app, giving users the option to use physical and digital assets as collateral at much lower interest rates.

Physical assets can be placed in a Blockchain Smart Locker similar to the Amazon lockers that are used for deliveries.

The borrower places physical assets in the locker and if they don’t pay, the lender will have access to collateral in the locker or it will be mailed to them.

The digital wallets come with a Digital Debit Card so borrowers can use funds immediately to shop online and if they need cash they can withdraw from ATMs.

The most important part is interest rates will range from 10 – 20%. Essentially eliminating the need for expensive high interest loan options that plague the African American and Hispanic communities.

THE FOUNDER: Anade Davis

Anade Davis

What inspired you to start CryptoShare?

I have struggled with either credit and access to funding to grow businesses my entire life. Sometimes I struggled to have access to both at the same time!

As I grew older and traveled to different countries; I realized how many people were dealing with the same struggles internationally.

The problem is the current global banking and credit system excludes billions of people. One thousand US dollars ($1,000) is enough in many countries to jumpstart a business.

These are the reasons that inspired me to create a lending solution for people around the world utilizing Cryptocurrency and ATMs.

What advantages does CryptoShare offer borrowers and lenders?

  • It’s convenient. The only document borrowers will need to provide is their ID.
  • It’s flexible. Ability to customize the loan terms to suit lenders’ needs. Both borrower and lender can customize their loan terms according to their requirements.
  • It’s accessible to everyone because there is no need for a bank account, credit score, or income statement.

How can people support you right now?

You can support us by investing as little as $100 before the investor close date of October 1!

 

Tony O. Lawson


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