00:00:00.359 we got you beat over
00:00:02.240 here and so I'm glad to be here amongst
00:00:05.600 this panel to talk about economic
00:00:07.600 opportunities for particularly for black
00:00:09.960 women and I'm looking forward to this
00:00:13.320 discussion thank you Julie next we have
00:00:16.520 Sabrina Stratton she is the senior vice
00:00:19.480 president of Northeast Regional director
00:00:23.039 welcome Sabrina you have a few words
00:00:26.039 thank you so much Cassandra uh I extend
00:00:29.080 my sincere appre appreciation to Oxfam
00:00:31.640 and my fellow panelists um for the
00:00:33.600 opportunity to be a part of this
00:00:35.640 discussion um I spent my entire career
00:00:38.399 for the most part in the financial
00:00:40.039 services sector with most recently I
00:00:42.079 work for Amalgamated Bank um and serve
00:00:44.440 as Northeast Regional director uh
00:00:46.480 overseeing our Commercial Bank uh my
00:00:49.320 personal experience though with banks
00:00:51.399 began long before my career uh right
00:00:54.480 after college I vividly recall walking
00:00:56.840 into a bank with very little knowledge
00:00:58.719 of how accounts work
00:01:00.600 and fortunately someone took the time to
00:01:03.160 really explain good money management
00:01:05.400 leaving a lasting impact on me this
00:01:08.479 experience really sparked my interest in
00:01:11.040 banking and drives my commitment to
00:01:13.280 Equitable Financial access today uh
00:01:15.880 throughout my 20 plus career in banking
00:01:17.880 I've always tried to make sure Equity
00:01:19.640 was a part of the conversation which is
00:01:22.040 why it was an easy decision for me to
00:01:23.759 move over to Amalgamated Bank the
00:01:26.079 country's largest socially responsible
00:01:27.960 Bank where I was part of a team to
00:01:30.119 create aund million racial Equity Loan
00:01:32.640 Fund among other successes um
00:01:35.399 Amalgamated Bank just a little bit for
00:01:37.040 you all um was started by a union of
00:01:39.399 immigrant women um when they uh found
00:01:41.880 that the banking system at that time was
00:01:43.320 not Equitable throughout our 100 plus
00:01:46.040 year history we have prioritized
00:01:47.880 providing banking Solutions and
00:01:49.479 advocating for the most marginal
00:01:51.000 marginalized through our work with
00:01:52.479 unions nonprofit foundations and other
00:01:56.119 organizations um I definitely am looking
00:01:58.200 forward to being a part of the
00:01:59.520 discussion today and um taking part in
00:02:01.719 such an important conversation thank you
00:02:03.960 again Cassandra thank you Sabrina next
00:02:06.520 we have Dr Gloria um bramel tanbu she is
00:02:11.400 the applied Economist and agricultural
00:02:14.560 Economist at tusi University Dr
00:02:18.599 ubu yes thank you Cassandra and good
00:02:21.599 afternoon everyone I am delighted to be
00:02:24.560 here and honored that I was asked to
00:02:27.640 participate on this illustrious panel
00:02:31.239 of amazing uh young women who are doing
00:02:34.760 amazing things um it's kind
00:02:38.920 of I'm a little bit perturbed right now
00:02:42.959 because of the the uh ruling by the
00:02:46.680 court here in Georgia regarding the
00:02:49.040 Fearless fund so today while I had
00:02:52.879 certain prepared remarks I'm going to
00:02:54.959 incorporate some of my feelings
00:02:57.519 concerning that as well um we know that
00:03:01.200 black women business owners are powering
00:03:04.599 this economy and growing fast but to
00:03:08.319 have um this fund be challenged in the
00:03:11.519 way that it was is a is a is a cry or a
00:03:15.560 call for us to unleash our potential
00:03:19.280 when it comes to um economics so and
00:03:22.760 business ownership uh we have to respond
00:03:25.720 to this attack in a
00:03:28.760 very Fierce way and be un uh afraid and
00:03:34.760 fearless in our response so I'm excited
00:03:37.519 to be here and look forward to our
00:03:41.000 discussion Dr tanbu I'm so glad you
00:03:43.560 brought that up and we stand in
00:03:45.400 solidarity with the Fearless fund um as
00:03:47.720 well I know all of us do and so looking
00:03:50.080 forward to educating the public and
00:03:52.720 bringing in that conversation and last
00:03:55.519 but not least uh we have uh rahama right
00:03:59.799 she's the founder and CEO of Shia
00:04:03.360 yalen
00:04:04.879 Rah good afternoon everyone thank you
00:04:07.400 Cassandra and thank you Oxfam for
00:04:09.599 facilitating this conversation it's such
00:04:11.480 an important one I am the founder of
00:04:14.239 shayene which is a DC based social
00:04:16.478 impact Beauty brand I started after
00:04:19.000 serving in the peace score after college
00:04:21.399 and what my company does is we help
00:04:23.400 women in rural communities of Northern
00:04:25.240 Ghana take this seed which is the Sha
00:04:28.199 seed it grows exclusively in subsaharan
00:04:30.400 Africa and they transform it into an oil
00:04:33.000 that I'm sure everyone here knows about
00:04:34.720 shea butter and then we create retail
00:04:36.800 ready products that we distribute to us
00:04:39.080 retailers and through this business
00:04:41.000 model we increase women's income five
00:04:42.919 times their country's minimum wage and
00:04:45.120 at the foundation of our business model
00:04:47.199 is how to incorporate women who
00:04:50.320 historically have been in the informal
00:04:52.320 market and have not been included in
00:04:56.400 formal markets included in Global Supply
00:04:59.080 and value chains in a way that allows
00:05:01.080 them to address systemic poverty in
00:05:03.440 their communities um through building
00:05:06.160 this business we're able to see that
00:05:07.840 women are in a position to send their
00:05:10.039 kids to better schools Access Health
00:05:12.960 Services um access better nutrition and
00:05:16.080 it's a real example of how if you can
00:05:18.199 create business models that include
00:05:21.560 women who have historically been
00:05:23.800 excluded into formal markets you can
00:05:25.840 really see advancements in their ability
00:05:28.639 to generate sufficient income to care
00:05:30.360 for themselves and their children and we
00:05:32.560 are replicating this model in Washington
00:05:34.600 DC I live in DC and we are building uh
00:05:39.280 the first commercial shared Beauty
00:05:41.080 manufacturing facility in Ward 7 for
00:05:44.039 those of you who know about the various
00:05:46.039 Wards in DC it's a one of the wards that
00:05:48.680 historically has been underserved and
00:05:51.280 what we're doing is we're building a
00:05:53.080 facility that will help other Beauty
00:05:55.759 brand owners run by black women run by
00:05:58.280 women of color who have issues
00:06:01.120 addressing manufacturing constraints and
00:06:04.120 so the beauty industry is a huge one in
00:06:06.240 the US uh black women we are one of the
00:06:10.520 biggest consumers of beauty products and
00:06:13.039 the reality is not enough of our
00:06:14.880 businesses actually generate sufficient
00:06:16.919 income and so what we're doing is we're
00:06:19.319 addressing some of those barriers to
00:06:20.840 entry and creating a facility that will
00:06:24.199 allow for brand owners to access
00:06:27.960 resources as well as access
00:06:30.039 manufacturing Solutions so that they can
00:06:32.039 launch and grow amazing personal care
00:06:34.599 and wellness Brands so I'm really
00:06:36.240 excited to be here and be a part of this
00:06:38.560 conversation thank you so much for that
00:06:40.759 that's really inspiring and exciting and
00:06:42.599 I said the name of the company wrong so
00:06:44.680 is Shay Yen that's correct yen is bombar
00:06:49.400 it's the language I learned when I was
00:06:50.840 peace volunteer and it means light and
00:06:52.880 hope so we're bringing light to the
00:06:54.960 issues of disparities for these women
00:06:56.919 that we work with and hope by giving
00:06:58.639 them access to living wage jobs awesome
00:07:02.160 thank you so much I understand um here
00:07:04.440 at the Mississippi black women's Round
00:07:05.720 Table um we you know push um an agenda
00:07:09.680 called uh the Mississippi women's
00:07:11.199 Economic Security initiative where we're
00:07:12.879 advocating for increasing in wages right
00:07:16.759 uh and we understand that we got to be
00:07:18.280 Innovative and we also got to hold you
00:07:20.479 know um elected officials accountable
00:07:23.360 and companies accountable on how they
00:07:25.560 are um treating and paying our women so
00:07:28.479 let's jump right into to um the
00:07:31.160 conversation and I am going to start um
00:07:35.919 uh with you Julie um I'm sorry with you
00:07:40.400 Dr T tanu So Dr tanbu four decades ago
00:07:45.199 you sounded the alarm on the
00:07:47.240 institutionalized land theft experienced
00:07:50.159 by Southern black family land owners and
00:07:53.479 the role that played in wealth
00:07:56.039 disparities now over 40 years later new
00:07:59.520 economic opportunities for family land
00:08:01.599 owners are being created by federal
00:08:03.720 agencies including USDA and FEMA and
00:08:07.080 today you are a lead researcher and
00:08:09.479 author of Tuskegee annual report state
00:08:12.039 of African-Americans in the black belt
00:08:15.199 can you share some of the historic
00:08:17.080 policies and politics that resulted in
00:08:20.000 black women's over representation in low
00:08:22.280 wage jobs and low wealth communities
00:08:30.720 you're on
00:08:33.440 mute thank you
00:08:35.599 Cassandra in order to really give the
00:08:38.880 audience a a good sense of why we're
00:08:42.360 where we are today in terms of the over
00:08:45.399 representation of black women in low
00:08:48.120 wage jobs and low wealth communities we
00:08:50.399 have to start with the beginning of this
00:08:52.440 country the founding of this place right
00:08:55.279 um and I want to share with you a quote
00:08:58.320 from one of my favorite writers Lon
00:09:01.560 Bennett um he wrote a book The shaping
00:09:04.200 of Black America and if you have not
00:09:06.000 read that book I want to make that
00:09:07.880 assignment to you as a former Professor
00:09:11.079 uh at Spelman for nearly 20 years and
00:09:13.160 currently uh an associate professor
00:09:16.079 Tuskegee I want to just let let me share
00:09:18.399 a couple of things with you this is what
00:09:19.959 he said he said a nation is a
00:09:22.839 choice it chooses itself at faithful
00:09:25.800 Forks in the road by turning left or
00:09:28.959 right by giving up something or taking
00:09:31.480 something and in the giving up and the
00:09:33.880 taking in the deciding and not deciding
00:09:36.920 the nation
00:09:38.360 becomes then he goes on to say America
00:09:41.560 became America that way Fork by Fork it
00:09:47.000 became America that
00:09:49.600 way America or to be more precise the
00:09:53.160 men who spoke in the name of America
00:09:55.000 decided that it was going to be a white
00:09:57.240 Place defined negatively by the bodies
00:10:00.200 and the blood of the Reds and the black
00:10:02.440 and that decision which which was made
00:10:04.480 in the
00:10:05.560 1660s a policy
00:10:07.760 decision and elaborated over 200 over a
00:10:11.399 200 year period foreclosed certain
00:10:13.920 possibilities in America perhaps forever
00:10:17.440 and set off depth charges that are still
00:10:20.640 echoing and re-echoing in the
00:10:23.880 Commonwealth what makes this all the
00:10:26.240 more mournful is that it didn't have to
00:10:28.640 happen that way
00:10:30.040 there was another road but that road
00:10:32.000 wasn't taken in the beginning as we have
00:10:34.839 seen there was no race problem in
00:10:36.920 America the race problem in America was
00:10:40.120 a deliberate invention of men who
00:10:43.880 systematically separated blacks and
00:10:46.160 whites in order to make money so that's
00:10:49.560 the foundation that's this that's the
00:10:51.760 stage right and we would later on see
00:10:56.200 that black women as a part of this
00:10:59.720 process were then used as the basis for
00:11:03.600 enslaving generations of people after
00:11:06.120 that because slaves were defined by the
00:11:10.000 the the the the status of their mother
00:11:12.360 so black women were enslaved so all of
00:11:15.120 their forbears
00:11:18.200 were uh their descendants rather were in
00:11:23.399 considered enslaves so black women was
00:11:25.959 the intrical tool that was used in
00:11:28.040 policy from the early days so we lead up
00:11:31.959 to the Civil War so from
00:11:35.079 16007 when the king of England first
00:11:38.760 sent the Virginia Company which was a
00:11:41.040 private company of investors so this com
00:11:45.000 this country was started by folks who
00:11:46.560 were trying to make money in the colon
00:11:49.440 colonization game right maximizing
00:11:53.000 profits and supported by the king of
00:11:55.800 England because they were in poverty
00:11:58.240 because of the en closure movement and
00:12:00.079 all that stuff so that's how this
00:12:01.760 country got started right and and and
00:12:04.600 those policies forever have shaped the
00:12:08.839 trajectory of black people and black
00:12:11.399 women in particular in this country so
00:12:13.680 we get to the the the the American
00:12:16.800 Revolution which didn't change anything
00:12:19.240 for black people and black women because
00:12:21.519 we continued to be enslaved and then we
00:12:24.720 have the short period of
00:12:27.240 reconstruction that began
00:12:29.880 changes for us but then that was
00:12:31.560 shortlived and then we had a hundred
00:12:33.360 years of Jim
00:12:35.519 Crow but but in six
00:12:38.000 1862 President Lincoln created the
00:12:40.880 Department of
00:12:42.279 Agriculture which
00:12:45.160 was affirmative action for the
00:12:47.760 plantation owners because we know if
00:12:50.680 you've been keeping up with what's
00:12:52.399 happening there they were exclusively
00:12:54.199 used to benefit white farmers and so
00:12:57.639 from 16007
00:13:00.079 to today this country has been really
00:13:03.720 affirmative action for the majority and
00:13:08.399 nothing really crumbs for the rest of
00:13:11.360 us in 19 in the 1960s through the Civil
00:13:15.519 Rights
00:13:17.000 Movement they passed laws that did
00:13:20.519 certain things to benefit us but they
00:13:22.600 also gave George Wallace and some other
00:13:25.959 folks the Appalachian Regional
00:13:28.040 Commission
00:13:29.880 which they got a billion dollars to
00:13:32.760 begin to pour into many of the southern
00:13:35.560 states so
00:13:37.880 financially even during the Civil Rights
00:13:40.480 Movement the The South was rewarded for
00:13:43.800 for going along with the Civil Rights
00:13:45.839 Movement just as they were rewarded for
00:13:48.000 going along or or or as a result of the
00:13:50.480 Civil War movement so today we are still
00:13:54.199 as Lon Bennett said Echo echoing and
00:13:57.959 re-echoing all this stuff and it's
00:14:00.360 because of what this nation is and who
00:14:03.680 who it was founded for and I want to
00:14:05.199 share one final quote
00:14:08.360 by Alexander Stevens of Georgia and it's
00:14:12.320 only appropriate that we' talk about him
00:14:14.399 he was the vest Vice President of the
00:14:16.800 Confederacy this is what he said in
00:14:19.560 18661 right right be right after Lincoln
00:14:23.079 was elected president he said our new
00:14:25.759 government which is a conf Confederacy
00:14:28.600 was found founded on
00:14:30.680 slavery its foundations are laid its
00:14:34.160 cornerstones rest upon the great truth
00:14:37.079 that the Negro is not equal to the white
00:14:39.880 man and that slavery which is submission
00:14:43.199 to the superior race is his natural and
00:14:46.800 normal condition this is our new
00:14:50.759 government is is this our new government
00:14:54.199 is the first in the history of the world
00:14:57.199 based upon this great physical
00:14:59.480 philosophical and moral truth it wasn't
00:15:02.079 just the confeder Confederacy it was
00:15:04.880 this entire
00:15:06.519 country that was based on that
00:15:09.519 philosophy that the Negro was not equal
00:15:13.079 to the white man right so this is the
00:15:16.720 foundation that was laid and we've been
00:15:19.759 struggling with this for centuries and
00:15:23.120 unless we shift the trajectory and begin
00:15:27.079 to use the consumer purchase ing power
00:15:29.639 that we have and directing our resources
00:15:32.759 to black women business
00:15:35.560 owners to meet unmet needs in our
00:15:38.360 communities we're going to continue to
00:15:40.639 have the struggle so for me I'm 71 I'm a
00:15:43.560 grandmother I don't my grandchildren and
00:15:46.319 my grandsons and granddaughter will not
00:15:48.560 inherit this me this mess if I have
00:15:50.800 anything to do with it so I'm ready to
00:15:52.639 fight y'all I'm ready to take it to
00:15:55.800 whomever we need to take it to so that
00:15:58.199 we can create a path that is not the
00:16:01.680 path that we've been on since
00:16:04.399 1619 when we came into this country so I
00:16:08.360 don't know how much time I have left or
00:16:10.079 if I've gone over my time you are good
00:16:12.759 on your time right now thank all right
00:16:14.959 so thank you so much we'll talk more but
00:16:17.120 we have all that we need to take it to
00:16:20.279 the next level and we can start here in
00:16:22.319 Georgia just like we started with the
00:16:24.240 election and on the political side it's
00:16:26.800 n it's now time for us to have an
00:16:29.160 economic Revolution led by black women
00:16:32.920 in Georgia thank you so much Dr tanu um
00:16:37.720 you have kicked us off I got Hearts all
00:16:40.680 on the screen you have fired us up
00:16:42.920 absolutely and I think about this so
00:16:45.000 much on the lasting impacts of it being
00:16:48.120 left also in the South and still where
00:16:50.480 we have a majority of black people in
00:16:52.920 the South and where we have households
00:16:54.759 led by women majority of them are black
00:16:57.079 women in the South and so let's just go
00:16:59.839 keep going this is good conversation
00:17:02.360 Julie so you heard Dr tanu um outline
00:17:06.359 some of the historic and institutional
00:17:08.240 challenges that have attempted to lock
00:17:10.760 black women into low wage and essential
00:17:12.919 jobs and undermine their economic
00:17:15.000 Mobility um as the executive director of
00:17:17.319 the Council of black architecture and
00:17:19.199 engineering companies can you share the
00:17:21.640 role of local government contracts and
00:17:24.119 upward Mo economic mobility and the key
00:17:27.520 barriers or challenges that black women
00:17:30.000 own firms face in winning city and state
00:17:33.720 contracts this is important
00:17:46.960 conversation I'm sorry y'all it it it is
00:17:49.640 an important U conversation and Dr T has
00:17:53.320 me fired up as well goodness I want to
00:17:55.720 go outside and just really get to work
00:17:57.760 on anything to make make us go further
00:18:00.039 but one of the things that I put a lot
00:18:02.360 of my energy and effort into is public
00:18:05.400 policy around public Contracting public
00:18:08.400 Contracting is anywhere between 50 and
00:18:10.760 20% of our GDP of our economy think
00:18:14.039 about it anything you can think about
00:18:15.799 the government buys from designing and
00:18:17.880 constructing schools Parks airports
00:18:20.840 hospitals playgrounds providing Health
00:18:23.880 Services daycare repairing roads Bridges
00:18:27.480 IT consulting food beverages you name it
00:18:30.799 the government box and I think what
00:18:33.440 we're looking at is really focusing on
00:18:35.799 activities where the government's
00:18:37.679 purchasing power can drive economic
00:18:41.080 Mobility think about this that
00:18:43.480 purchasing power is one of the biggest
00:18:45.120 job creators that we have in America and
00:18:48.760 the counterweights I think someone
00:18:50.520 talked about it earlier the society all
00:18:53.000 attached to our jobs like Health Care
00:18:55.440 the ability to afford decent housing
00:18:57.880 educational supps for our children
00:19:01.000 transportation and one of the things
00:19:02.840 that I find that most people view public
00:19:05.240 Contracting is is like they're giving
00:19:06.960 something away to us like it's a social
00:19:08.960 program but truly the essence of public
00:19:11.640 Contracting because it creates jobs and
00:19:14.200 all the everything around that that's
00:19:15.840 tangental to that it's it's it's a
00:19:18.200 economic development program and one of
00:19:20.760 the things that I think that we have to
00:19:22.400 look at when we look at public
00:19:23.799 Contracting is
00:19:25.679 intentionality and and one of our
00:19:28.760 biggest barriers is access to
00:19:31.039 Opportunities and so one of the things
00:19:33.000 that I want to talk about is some good
00:19:34.799 public um programs and good public
00:19:38.120 policy that really moves forward our
00:19:41.360 economic agenda and our ability to
00:19:44.120 participate in the economy through one
00:19:46.600 public Contracting which creates jobs
00:19:49.360 and one of the first programs I want to
00:19:50.919 talk about is a New York City has a
00:19:53.600 community hiring program and that's one
00:19:55.880 of they're looking to harness their
00:19:58.039 public procur
00:19:59.440 opportunities to create local jobs for
00:20:01.919 folks in those communities where these
00:20:04.480 opportunities and these projects are and
00:20:06.799 I think that's really good because
00:20:08.400 there's a lot of stuff I mean you think
00:20:10.360 about I'm gon build a bridge and you
00:20:11.720 think about the engineering and the
00:20:13.799 construction management and some of the
00:20:15.320 Professional Services but there are a
00:20:17.400 lot of things that are adjacent to that
00:20:19.360 that especially low economic women or
00:20:22.320 low to low moderate income women can do
00:20:25.240 on these projects they hire everything
00:20:27.039 from secretaries to flag folks to you
00:20:29.960 name it they hire them and I think that
00:20:31.880 we need to really look at getting into
00:20:33.679 those opportunities because we are in
00:20:36.480 this worldclass investment and
00:20:38.440 infrastructure like we haven't seen in
00:20:40.520 this time any time in history and I
00:20:44.000 think the usdot also has a great program
00:20:47.200 where they're looking to expand local
00:20:49.080 hiring and Workforce Development and the
00:20:51.679 whole purpose is so that these good jobs
00:20:53.840 can create meaningful careers as well
00:20:56.200 because think about this some of these
00:20:57.840 projects last 20 years and so if you get
00:21:00.360 on one of these projects in a job you're
00:21:02.559 going to get higher wages and also have
00:21:04.799 opportunity to have economic means for
00:21:07.000 years one of the things that I'm excited
00:21:09.480 about the Biden Administration that they
00:21:11.240 did is what the first executive order
00:21:13.760 the first thing he did when he and vice
00:21:16.520 president Harris took office was he
00:21:18.640 signed executive order
00:21:20.799 13985 which is um furthering advancing
00:21:24.279 racial equity and support for
00:21:25.799 underserved communities through the
00:21:27.679 federal government the harness the power
00:21:30.000 of the federal government to create
00:21:31.400 economic opportunities and if you look
00:21:33.840 at that executive order number section
00:21:36.279 seven talks about advancing Equitable
00:21:39.480 procurement and they they put in place
00:21:42.400 where the government wide goal for
00:21:44.559 federal procurement dollars awarded or
00:21:46.760 on all of each agencies and all of these
00:21:49.799 projects to really include
00:21:52.120 socioeconomic disadvantage individuals
00:21:55.039 and so they looking at a whole approach
00:21:57.480 of government through procurement to one
00:21:59.919 create economic opportunities and these
00:22:02.400 good paying jobs will kind of lessen the
00:22:04.120 wealth Gap that's something that we
00:22:05.360 don't talk about too much and one of the
00:22:08.240 things that I work with this wonderful
00:22:09.919 agency in New York is one of my favorite
00:22:11.480 agencies and there's a guy there who's
00:22:13.760 really an economic activist Dr Keith
00:22:16.600 Wright we work together with him and the
00:22:18.640 executive director Rick cotton to put
00:22:21.080 together a discretionary program and a
00:22:24.039 small contracts program so that smaller
00:22:27.039 businesses smaller women black and
00:22:30.320 Latino owned businesses can have an
00:22:33.080 opportunity to compete against each
00:22:34.919 other in discretionary Awards with small
00:22:37.840 contracts most people tend to think of
00:22:40.000 agencies as uh having all these big Mega
00:22:42.480 projects and big contracts when really
00:22:45.159 they buy in smaller increments so this
00:22:47.360 was an intentional program set to look
00:22:49.679 at those smaller projects and those
00:22:51.240 smaller um opportunities so that that
00:22:54.360 they can put them to us so that we can
00:22:57.200 compete against each other and and
00:22:58.720 actually be successful in winning today
00:23:01.080 they've put the I want to say they've
00:23:02.840 awarded hundreds of million dollars to
00:23:04.640 small women and and um economically
00:23:08.640 underserved or underutilized businesses
00:23:10.880 it's been great and one other thing that
00:23:13.200 I will talk about that I know that a lot
00:23:15.960 of folks don't know is section three of
00:23:18.200 the 1968 Housing and Development act and
00:23:21.600 that says that certain programs that are
00:23:24.120 covered by Hud funds that they are to
00:23:27.080 the greatest extent feasible required to
00:23:29.440 provide training employment Contracting
00:23:32.440 and other economic opportunities to low
00:23:34.520 and very low income persons and so
00:23:37.240 especially those who are the recipients
00:23:39.039 of public housing and to the businesses
00:23:42.039 that are providing services in those
00:23:43.720 areas and I think looking at the
00:23:45.640 government and the opportunities that
00:23:47.360 they have to drive um wealth and and
00:23:50.559 create economic opportunities is very
00:23:52.559 important just think about this 20% of
00:23:55.000 our economy and a lot of us are not
00:23:57.799 involved in in and I think from when
00:24:00.400 they're buying from food to beverages
00:24:02.760 there's a lot of us that provide a lot
00:24:04.279 of services that we can take advantage
00:24:07.760 of these economic
00:24:11.360 opportunities and oh some of the
00:24:13.120 barriers and access opportunities one of
00:24:15.520 the biggest barriers that we have and
00:24:17.559 through the intentionalities of these
00:24:19.320 programs that some of the policy that I
00:24:22.120 spoke of I think we can address some of
00:24:23.960 those and one of my biggest pet peeve is
00:24:26.159 when I hear them say oh they don't have
00:24:27.880 the Capac capacity to do work well
00:24:30.279 opportunity creates capacities not the
00:24:32.320 other way around and I think we've been
00:24:35.000 at the as Dr um said earlier we've been
00:24:38.240 at the Forefront of all this we lead a
00:24:39.880 lot of this stuff think about this when
00:24:41.919 we were in slavery we we innovated a lot
00:24:44.679 of the things that we use today we put
00:24:47.159 together a lot of programs then when we
00:24:49.159 came out we had the opportunities to use
00:24:51.640 that and what they tell us then in
00:24:53.440 slavery when we were doing all this work
00:24:55.279 we had all these skills we they wanted
00:24:57.480 us to do all this work then as soon as
00:24:59.360 we start asking for equal pay or right
00:25:01.360 to be paid all of a sudden we have no
00:25:03.000 capacity no skills and no ability where
00:25:05.960 where did it go where did it disappear
00:25:07.440 to so that's where I spend my time and
00:25:09.679 energy looking at public policy to
00:25:12.039 address some of these disparities and
00:25:14.360 especially for our underutilized black
00:25:16.120 women on businesses Julie wow you did
00:25:19.799 you just I know I talked fast and I said
00:25:21.880 lot did you just say opportunity creates
00:25:24.120 the capacity opportunity creates
00:25:26.520 capacity yes yes and we're going to come
00:25:28.880 back around on that I completely agree
00:25:32.240 uh you got to provide the opportunities
00:25:34.559 for people to you know step into these
00:25:38.440 roles and these positions because now
00:25:40.360 we're talking about you know not lifting
00:25:42.799 up that individual but lifting up a
00:25:44.960 household and a household lifts up a
00:25:46.840 whole community and they all are
00:25:48.960 interconnected and so yes this is this
00:25:52.559 is really good okay the next go Ahad yes
00:25:55.960 I was just gonna say our economy is
00:25:57.480 circular we're all interdependent on
00:25:59.600 each other and if I can provide a job I
00:26:02.279 get a a contract I provide a job I'm
00:26:04.120 going to go buy me some
00:26:05.360 shaying and she's going to be able to
00:26:07.240 keep some people in work and so that's
00:26:09.720 the one thing that when you listen to
00:26:11.600 the all the talk on the economy it's not
00:26:13.840 Wall Street it's our street it's Dr
00:26:16.240 Martin Luther King Boulevard that keeps
00:26:17.799 our economy going I say that because
00:26:19.279 every Community has a MLK Boulevard
00:26:21.960 absolutely thank you let's switch a
00:26:24.760 little bit to Solutions and models
00:26:27.279 Sabrina um you are the head of
00:26:30.159 Commercial Banking and Amalgamated Bank
00:26:34.320 um Bank America's most socially
00:26:37.600 responsible Bank uh what is the role of
00:26:41.159 the banking sector in closing the racial
00:26:43.880 wealth Gap in spurring investment in
00:26:46.720 underserved communities and more
00:26:49.399 specifically can you outline some of the
00:26:51.880 steps that low wage earners can um take
00:26:55.399 towards assessing Capital to start their
00:26:58.279 their own
00:26:59.360 businesses absolutely and um you know
00:27:02.600 the first thing I'll do is take the
00:27:04.440 question um around discussing the role
00:27:08.320 of the banking sector in closing the
00:27:10.000 racial wealth Gap um these are most of
00:27:13.880 what I will say today all of us know and
00:27:18.600 um you know some of this um you know may
00:27:21.240 be new to you but a lot of this are
00:27:23.279 facts that we just we we already know
00:27:25.279 exist today including that the sign ific
00:27:28.559 earnings Gap that exists between black
00:27:30.799 women white women and men drives the
00:27:34.320 racial disparities that we see today so
00:27:37.399 um what I like to let people know is
00:27:39.320 like the primary wealth building years
00:27:41.480 which is typically ages 20 to 35 for po
00:27:44.720 people um again I want to stress the
00:27:47.320 wealth building years coincide with the
00:27:50.720 largest earnings Gap that black women
00:27:53.960 face among their white counterparts and
00:27:57.120 white men this is a critical time where
00:28:00.200 black women face lower access to higher
00:28:03.399 return generating assets such as home
00:28:05.640 ownership and
00:28:06.919 Investments but they have higher
00:28:09.120 exposure to higher cost
00:28:11.559 liabilities uh compared to their white
00:28:13.679 counterpart so you can see they have
00:28:15.760 lower access to higher return assets but
00:28:20.240 higher exposure to high cost
00:28:23.519 liabilities um in addition to that
00:28:26.679 private business owners who contribut
00:28:28.480 significantly to Total wealth um even
00:28:31.960 though they only comprise the 15% of the
00:28:34.559 population um comprise and contribute
00:28:37.360 significantly to the total wealth of
00:28:38.960 this country however black business
00:28:41.360 owners particularly black women often
00:28:43.679 have to are not a part of that you know
00:28:46.039 contributing to Total wealth and often
00:28:47.600 have to rely on personal debt rather
00:28:50.480 than bank loans um which are more
00:28:53.240 expensive to be able to fund their
00:28:54.960 financing needs um we all know is needed
00:28:59.159 hence why I just want to plug in the
00:29:01.320 Fearless fund why funds like that are so
00:29:03.760 critically important because these
00:29:06.200 disparities exist and we have uh funds
00:29:10.760 like The Fearless fund providing Direct
00:29:12.760 Solutions to be able to help uh lower
00:29:16.039 these disparities so again you know just
00:29:18.600 want to express my support um with Dr
00:29:22.080 tbu and and others with the Fearless
00:29:24.640 fund um there are a few things that the
00:29:26.640 banking sector can do one of is support
00:29:28.919 The Fearless fund among other um funds
00:29:32.480 um but also increasing business loans
00:29:35.960 products uh and supporting um other
00:29:39.000 types of Investments that are
00:29:40.559 specifically targeted for black women we
00:29:43.480 need a little bit more than the
00:29:45.000 superficial Outreach that we often see
00:29:47.799 um in the uh from the banking sector
00:29:50.080 where they have these like Grand
00:29:51.760 announcements but then we don't hear
00:29:53.559 anything later on about the results of
00:29:55.760 those like did they really impact the
00:29:57.679 black
00:29:58.760 Community um investment in the community
00:30:01.679 investment in programs that help women
00:30:04.279 to be able to uh achieve um the uh the
00:30:09.399 wealth uh in in reducing the racial
00:30:11.440 wealth Gap um a couple of things that
00:30:13.679 I'll say um from Amalgamated standpoint
00:30:15.960 is we're proud supporters of funds
00:30:17.919 similar to The Fearless fund um
00:30:19.519 particularly the entrepreneurs of color
00:30:21.120 fund the black Vision fund where we
00:30:23.440 actually take our dollars um within the
00:30:25.919 bank and um increase uh increase capital
00:30:29.720 for black and other minority owned
00:30:32.120 businesses I want to just you know one
00:30:34.600 of the things that I'll I also want to
00:30:36.760 add is um it's very important to um hire
00:30:40.279 black women I think it's Julie you
00:30:43.120 mentioned this as well like you know um
00:30:45.519 I'm just using your quote with
00:30:46.919 opportunity creates capacity when you
00:30:49.799 give black women the opportunity to lead
00:30:52.440 especially in the financial services
00:30:54.080 sector it has been proven um without a
00:30:57.600 doubt
00:30:58.679 um that profitability increases I'm
00:31:01.440 proud to say that Amalgamated Bank is
00:31:03.159 led by a black woman Priscilla Sims
00:31:04.960 Brown um and since she has taken
00:31:07.000 leadership within our bank the
00:31:08.919 profitability we have experienced the
00:31:10.360 highest profitability we've ever
00:31:11.639 experienced in the history of our bank
00:31:13.960 now what happens is when you hire black
00:31:15.519 women they in turn approach their hiring
00:31:18.039 process and a little bit more more
00:31:20.159 Equitable and when that happens what you
00:31:22.440 are doing is you are increasing the
00:31:24.960 opportunities that black women have um
00:31:27.600 to be be able to uh be wealth drivers
00:31:30.440 Wealth Builders um within their personal
00:31:32.679 lives and the communities that they are
00:31:34.799 uh that are around them um again you
00:31:37.760 know stressing that um my perspective is
00:31:40.200 coming from the financial services and I
00:31:41.840 think there's so much work that needs to
00:31:43.200 be done including making sure that we're
00:31:44.880 uplifting the black the voice of black
00:31:46.679 women um in the work that is being
00:31:49.159 done now uh I'll address the second part
00:31:52.000 of the question which is regarding low
00:31:53.519 wage earners um can take and what they
00:31:56.159 can what roles they can take and except
00:31:58.039 in capital to start their business the
00:32:00.399 reason why I started with the financial
00:32:02.279 the responsibility of the financial
00:32:03.799 sector first because there are
00:32:05.240 structural issues that are set up now
00:32:07.880 that um prevent low-wage workers um and
00:32:11.799 or workers that uh black women um and
00:32:15.639 other um and black men men from being
00:32:19.360 able to have a successful thriving
00:32:22.240 business over a long period of time but
00:32:25.799 when we put those things aside there are
00:32:28.120 some things that I would just highly
00:32:29.760 recommend that uh anyone does when
00:32:32.600 thinking about starting a business one
00:32:34.600 of them being is to take the time to
00:32:36.320 educate yourself on running a business
00:32:38.519 including developing business plans
00:32:40.399 Financial Wellness measuring
00:32:42.240 profitability competitive Advantage
00:32:44.200 market analysis among other things um
00:32:47.000 most communities have small business
00:32:49.200 hubs through public and private
00:32:51.120 Partnerships that are accessible and
00:32:53.720 offer education around what I just
00:32:55.840 mentioned at no cost at all and I would
00:32:58.559 definitely recommend exploring that in
00:33:00.960 addition in most low to moderate income
00:33:03.600 communities there are what we like to
00:33:05.440 consider community development financial
00:33:07.679 institutions and Community Banks the B
00:33:10.519 these Banks typically have a goal to
00:33:12.799 increase Financial Services in those
00:33:15.440 communities um I would just highly
00:33:17.480 recommend developing a relationship
00:33:18.880 making sure you know that they exist in
00:33:20.679 your community developing a relationship
00:33:22.480 with the people um that work there and
00:33:26.039 uh and do this before you need capital
00:33:27.799 so do this before you need loans if
00:33:29.320 you're thinking about starting a
00:33:30.480 business if you're thinking about um uh
00:33:33.760 you know doing something differently
00:33:35.240 start developing those relationships you
00:33:37.519 can visit you can speak online you can
00:33:39.440 ask questions um typically these kind of
00:33:41.679 Community Banks and Comm and Community
00:33:43.519 Development financial institutions known
00:33:45.559 as cdfis they are set up to not only
00:33:48.440 provide lending Capital um in Grants but
00:33:51.399 they're also set up to be able to um
00:33:53.919 answer questions and to be able to help
00:33:56.000 you and provide guidance and what frame
00:33:58.320 what they term as technical assistance
00:34:01.360 um again these lenders are here to serve
00:34:03.519 underserved communities um typically in
00:34:07.480 addition to providing loans typically
00:34:09.359 their loans are a little bit more laxed
00:34:10.679 than Banks um so whereas a bank may have
00:34:13.480 these very strict requirements for lend
00:34:16.040 um for you to be able to get a loan
00:34:18.639 typically with cdfi they're a little bit
00:34:20.960 more um they're a little bit more leant
00:34:23.440 as far as their terms um they also offer
00:34:25.639 grants as I mentioned technical
00:34:27.079 assistance and other
00:34:29.000 support um and uh you know just want to
00:34:33.918 uh round out the conversation by saying
00:34:36.239 that um again a lot of work needs to be
00:34:39.159 done from the financial sector
00:34:40.879 standpoint from financial institutions
00:34:42.839 to really use their power use their um
00:34:46.879 the you know their their kind of
00:34:48.599 influence in the market to really make a
00:34:51.159 change and really make this process more
00:34:53.320 Equitable um thank you thank you Sabrina
00:34:57.200 I think you something really important
00:34:58.880 which was um it's really important to
00:35:01.880 hire black
00:35:03.440 women um and when we're hiring black
00:35:07.480 women and I always say when you put
00:35:10.000 black women in any space we are thinking
00:35:12.400 about not just ourselves but our
00:35:14.000 families our communities and so um it's
00:35:17.280 really good to have you in that space
00:35:19.200 and Priscilla um as well and you being a
00:35:22.079 part of this important conversation
00:35:23.680 because we know when black women are
00:35:25.240 there we are there um not just a faith
00:35:28.040 but we bring expertise and we also are
00:35:30.040 bringing problem solving Solutions um to
00:35:32.760 our community so thank you for that um
00:35:35.800 we'll round off this first part of this
00:35:38.240 conversation um with uh
00:35:40.640 rahama uh you have been an entrepreneur
00:35:43.359 for almost 20 years and congratulations
00:35:46.240 to you for that um you are now building
00:35:49.599 a beauty maker space in Southeast DC w 7
00:35:53.920 is it w 7 yeah w s uh which is is
00:35:57.800 chronically underserved so can you just
00:36:00.599 tell us a little bit um why this Venture
00:36:04.319 why now and your advice for other black
00:36:06.599 women entrepreneurs especially uh women
00:36:09.760 who are currently earning minimum wage
00:36:12.640 and right now Mississippi uh minimum
00:36:15.280 wage is still
00:36:17.200 $725 wow so can we just talk through
00:36:20.200 that yeah well really quickly Cassandra
00:36:22.880 I just wanted to um piggy back and
00:36:25.640 respond to some of the things I've been
00:36:26.960 hearing because all of it has just been
00:36:28.520 so rich um and from a policy perspective
00:36:32.440 Julie when you were talking one of the
00:36:34.680 things that really stood out to me is
00:36:36.599 that there have been programs in other
00:36:40.839 communities that our institutions have
00:36:43.640 supported but for some reason they don't
00:36:45.760 want to support those programs in Black
00:36:48.560 communities so that's one thing that I
00:36:50.440 think is really important uh for example
00:36:53.960 Universal basic income Alaska since the
00:36:56.960 late 7 has been doing this for their
00:37:00.119 residents and for people who live in
00:37:02.160 Alaska that's a clear program that we
00:37:04.680 can look at where they essentially have
00:37:06.920 created a public trust where households
00:37:09.720 if you live in Alaska if you're a
00:37:12.000 resident of Alaska you get a check from
00:37:14.520 the government for your household
00:37:16.200 anywhere from $1,000 to $10,000 we need
00:37:19.440 that in our communities reparations now
00:37:23.839 reparations now reparations now
00:37:28.160 we need to stop playing around as a
00:37:31.560 black community collectively we need to
00:37:34.720 demand
00:37:35.800 reparations period um Dr tanbu you
00:37:40.200 really gave us the historical
00:37:42.079 perspective and the truth that we all
00:37:44.599 know is that the US would not be the US
00:37:47.760 without the Free Labor of enslaved
00:37:51.640 Africans black people were not slaves we
00:37:54.480 were enslaved we need to change that
00:37:57.520 language we were never slaves we were
00:37:59.599 enslaved subjugated oppressed and that
00:38:03.280 needs to be compensated we need
00:38:06.400 reparations for that and that is not a
00:38:09.599 freebie it is not you know giving us
00:38:13.920 extra help this is what we
00:38:16.920 deserve as a demographic Block in this
00:38:21.480 Society period and that is something
00:38:23.800 that we need to collectively agree on
00:38:26.040 and fight for um so from a policy
00:38:29.000 perspective we've seen this other groups
00:38:30.839 have gotten reparations the Jewish
00:38:32.800 Community got reparations the Japanese
00:38:35.119 Community got reparations there are very
00:38:37.400 clear models that we can point to and
00:38:39.280 say well they got it why aren't we
00:38:41.200 getting it and I think that that is
00:38:42.680 something from uh policy perspective as
00:38:45.440 well as just us as a community boldly
00:38:49.520 asking boldly fighting for these things
00:38:53.400 because here's the truth no one's coming
00:38:55.960 to save us and no one's going to be
00:38:57.800 fighting for us we have to do it
00:38:59.760 ourselves and that's the reality that we
00:39:01.880 live in with that I think it's really
00:39:04.800 important that um also to Sabrina what
00:39:07.520 you were talking about everything that
00:39:10.000 we are discussing is about systems every
00:39:13.880 single thing that we are experiencing as
00:39:16.200 black people in this country and as
00:39:17.880 black people globally is because of
00:39:21.200 intentional systems that were created
00:39:24.440 implemented funded supported to ensure
00:39:28.280 that we stay back and behind and so for
00:39:31.560 me the only way we change this is by
00:39:34.200 creating new systems it's not simply
00:39:37.880 breaking down the systems that
00:39:39.400 historically have been racist but it's
00:39:41.520 about how do we create new systems how
00:39:44.760 do we challenge those systems not only
00:39:47.560 simply by using our voice and objecting
00:39:50.960 but by saying you know what we're going
00:39:52.400 to build different things and to your
00:39:55.160 point Dr tanbu it is about putting
00:39:58.000 dollars into our businesses and being
00:40:01.680 Unapologetic about supporting black
00:40:04.480 businesses period that is so critical
00:40:07.520 and important and so I've been an
00:40:09.640 entrepreneur since my early 20s I had no
00:40:12.400 business being an entrepreneur I had
00:40:14.319 never taken a business class I knew
00:40:16.240 nothing about financial models nothing
00:40:18.839 about you know marketing none of that
00:40:21.359 all I knew is I was a peace score
00:40:23.079 volunteer in a community where I saw
00:40:26.440 consistently
00:40:27.839 people who did not deserve to be living
00:40:30.160 at such levels of poverty living at
00:40:32.240 those levels of poverty and knowing very
00:40:35.400 well that their labor and their
00:40:37.280 knowledge someone else was financially
00:40:39.319 benefiting from that and that's some of
00:40:41.119 the things we need to talk about here
00:40:43.319 people are financially benefiting from
00:40:45.599 black people
00:40:47.119 daily we are contributing to our
00:40:50.359 economies locally and Global economies
00:40:53.839 and we are not being benefit we are not
00:40:57.319 benefiting from that but other people
00:41:00.079 are and I think that that's the fallacy
00:41:02.640 that we see often in traditional media
00:41:04.960 it's like black people are just chilling
00:41:06.520 in their homes not doing anything no we
00:41:09.240 are actually tremendous contributors to
00:41:11.760 the global economic system yet for some
00:41:14.880 reason when we say we should also
00:41:16.760 benefit from our labor from our
00:41:18.680 knowledge it becomes a problem and
00:41:20.640 that's what we're seeing with the
00:41:21.640 Fearless
00:41:22.960 fund and so what we need to do is call
00:41:26.200 out what these things are name him and
00:41:29.359 build new systems and so being an
00:41:31.640 entrepreneur seeing and being a
00:41:33.960 volunteer and seeing these disparities
00:41:36.560 it's what brought me to become an
00:41:38.920 entrepreneur I was I did not plan to do
00:41:40.880 this I wanted to become a Foreign
00:41:42.400 Service Officer and work at embassies
00:41:44.240 globally but after living in these
00:41:46.000 Villages and seeing the disparities I
00:41:48.119 said to myself there's got to be another
00:41:50.240 way there's got to be something that can
00:41:52.079 be done and again there was absolutely I
00:41:55.720 had no business doing this because if
00:41:57.800 you looked at what I had in terms of
00:41:59.560 resources I didn't have very much you
00:42:01.880 know I knew nothing about the beauty
00:42:03.280 industry nothing about Supply chains I
00:42:05.640 did not have any money you know I didn't
00:42:07.960 come from a wealthy family I am African
00:42:10.599 on my mom's side from Ghana and so I did
00:42:12.880 have that emotional connection to the
00:42:14.599 region and and to the community and so
00:42:17.640 over the last two decades I've been
00:42:19.880 thoughtfully building this brand in a
00:42:21.720 way that incorporates these women into
00:42:23.800 our supply chain and one of the things
00:42:25.880 that I've realized is a couple of things
00:42:29.720 one we are more than capable of Smashing
00:42:34.040 these institutions and creating our own
00:42:36.880 I did it with absolutely no resources
00:42:39.800 and to your point Julie it's the
00:42:42.119 opportunities that open the doors that
00:42:44.520 allow us to fully realize our potential
00:42:48.160 right two there is an inherent
00:42:52.400 opportunity between black people in
00:42:55.040 America and black people on the
00:42:56.839 continent
00:42:57.720 and in the Caribbean everywhere you see
00:42:59.800 black people until we figure out how to
00:43:02.720 create a stronger bond between the
00:43:05.640 diaspora we are going to continue
00:43:07.880 perpetuating these issues we need to
00:43:10.599 figure out Africa as a continent has
00:43:13.640 some of the fastest growing economies in
00:43:16.119 the world everyone is racing to the
00:43:18.720 continent to figure out what they can do
00:43:20.760 to land grab to control natural
00:43:23.200 resources because those natural
00:43:24.920 resources are powering the rest of the
00:43:27.240 World black people in America need to
00:43:29.880 show up on the continent and actively
00:43:33.119 participate in this Economic
00:43:36.319 Development the third thing is we need
00:43:39.640 to build systems in our communities here
00:43:42.280 that have been overlooked and
00:43:43.599 underserved for decades building this
00:43:46.760 facility in Washington DC our nation's
00:43:49.839 capital where we continue to see whyde
00:43:52.480 disparities and economic inequality
00:43:55.200 between black folks and white people in
00:43:57.240 this city and intentionally building
00:43:59.960 something that is addressing a very
00:44:02.000 clear paino around
00:44:04.079 manufacturing is the types of systems we
00:44:06.559 want to be building in our
00:44:08.319 communities right now in the beauty
00:44:10.599 industry McKenzie estimates that over um
00:44:14.520 the $60 billion dollar that is made in
00:44:16.920 the US beauty industry black businesses
00:44:19.960 only capture 1.5 billion of that 60
00:44:22.800 billion despite Black customers shopping
00:44:27.359 6.6 billion
00:44:30.160 annually we want that entire 6.6 billion
00:44:33.400 in our community if we're the ones
00:44:35.599 buying it it needs to be going into our
00:44:37.599 businesses but here's the reality even
00:44:40.400 though people love to say black women
00:44:42.400 are starting businesses at a higher
00:44:44.480 percent the reality is we're also
00:44:46.240 closing businesses at a higher percent
00:44:48.480 the reality is that over 96% of black
00:44:51.559 businesses in America are not employer
00:44:54.119 businesses they're sole proprietorships
00:44:56.520 the reality is according to JP Morgan
00:44:58.640 Chase if you're running if you're a
00:45:00.359 black woman running a business in
00:45:01.800 America you're generating less than
00:45:03.599 $25,000 a
00:45:05.640 year that those are the things that
00:45:07.760 we're navigating through so what does
00:45:09.880 that mean it means that we need to have
00:45:12.720 resources that are financing us so this
00:45:15.680 is why the attack on The Fearless fund
00:45:17.640 is absolutely
00:45:19.680 Insanity it means that we need to have
00:45:22.839 the mentorship and the new relationships
00:45:25.520 that can open doors and unlock
00:45:28.160 opportunities with
00:45:30.319 retailers with government contracts with
00:45:34.599 funding and then of course the technical
00:45:37.839 support to understand how to build a
00:45:40.240 business I've literally failed my way to
00:45:42.720 the success I've had it was then that
00:45:45.480 part of the reason it's taken so long is
00:45:47.760 because of the all of these systemic
00:45:49.640 things that I'm talking
00:45:51.680 about and so I want to get back to why
00:45:54.640 we're building this space if you are in
00:45:57.839 the beauty and wellness industry or you
00:46:00.720 are selling a product you can't sell
00:46:03.400 what you can't make back in the 60s and
00:46:06.000 70s black people in the beauty industry
00:46:08.760 owned manufacturing they were making
00:46:11.280 their own products when we think about
00:46:14.800 um madam CJ Walker and what she did she
00:46:18.440 was making her own product she was
00:46:20.200 building factories and then what happens
00:46:22.880 in the 80s and 90s is a lot of the
00:46:25.960 factories and the main manufacturing
00:46:27.640 that was blackowned black Le started
00:46:29.480 getting bought up by large conglomerates
00:46:32.559 right and up until now we do not have as
00:46:36.240 much um ownership in the manufacturing
00:46:39.720 industry not just in Beauty but in every
00:46:43.640 vertical that we see in every sector
00:46:45.559 that we see so for me I want to be able
00:46:48.800 to for our community to own sourcing to
00:46:52.720 own manufacturing and
00:46:55.200 distribution it's not simp simply just
00:46:57.480 one part of the supply chain we want to
00:47:00.160 own all of it and we can and we should
00:47:03.880 because we are participating in all of
00:47:05.960 it so building this facility five 10
00:47:10.280 years down from from now what we want to
00:47:12.680 be able to show is that we have small
00:47:15.920 businesses Indie businesses in the
00:47:17.839 beauty and personal care sector run by
00:47:20.880 black people run by people of color who
00:47:23.880 are owning Manufacturing who are owning
00:47:28.040 as much of the process as possible and
00:47:31.040 we've been able to do that because we've
00:47:32.880 tapped into
00:47:35.000 resources like local government grants
00:47:37.839 Sabrina we've worked with a local cdfi
00:47:40.480 the Washington AA Community investment
00:47:42.280 fund we've tapped into corporate
00:47:44.200 philanthropy to dat we've raised over a
00:47:46.440 million dollars to build this facility
00:47:48.880 and we're almost at the finish line and
00:47:51.559 I'll just leave here because I know
00:47:52.760 we're going into Q&A ownership ownership
00:47:56.079 is so important and none of this is a
00:47:59.839 handout this is what we deserve this is
00:48:02.520 what we boldly come together and ask for
00:48:05.800 because as you said Dr tinu you don't
00:48:08.000 want your grandchildren growing up
00:48:09.800 dealing with the same issues that we
00:48:11.520 have dealt with and the only way we can
00:48:14.359 do that is by building our own
00:48:19.040 systems amen
00:48:22.839 amen amen if I was in church and had my
00:48:25.800 napkin I'll just
00:48:27.920 like that but I'm just do the paper and
00:48:31.280 uh he
00:48:33.040 man that is so right um we're talking
00:48:36.760 about a system and I think you ended
00:48:39.520 where Dr tanu uh began which is this was
00:48:44.680 a deliberate system that was
00:48:47.079 created and so you know to keep black
00:48:51.119 folks black women black families um
00:48:54.599 oppressed and now it's going also take
00:48:58.559 black women to build these solutions to
00:49:02.160 rebuild the system and impact the system
00:49:04.359 so do the systems change work and we're
00:49:06.400 all in that um and so wow thank you this
00:49:11.079 this was so incredible we will go into
00:49:14.040 Q&A so I'm just going to ask folks if
00:49:16.280 you have questions go ahead and populate
00:49:18.760 them um into the chat and we're going to
00:49:21.799 get an opportunity to um to respond to
00:49:25.920 that so you all can can talk back um and
00:49:28.960 you will be able to come off mute and
00:49:31.200 ask those questions I believe that is
00:49:33.839 correct and my tech people can tell me
00:49:36.280 if if that makes sense um as you all are
00:49:39.319 doing that I just have one other
00:49:41.400 question that I want to ask um our
00:49:45.040 panelists I think some of you all have
00:49:46.680 already talked about this uh which are
00:49:50.079 which is you know what Solutions again
00:49:53.520 you know what can people do um is there
00:49:56.960 way they can get
00:49:59.160 involved um so I think some of you all
00:50:02.400 kind of hit on this but if you have um
00:50:05.200 opportunity anyone can speak um what can
00:50:08.559 people do and how can they um get
00:50:11.040 involved and we know there are um
00:50:14.160 diverse people that's on this call but
00:50:16.920 we want the folks on the call or on the
00:50:19.079 webinar to be able to take this back to
00:50:21.079 community and we will be sharing this
00:50:22.720 recording as well so what can people do
00:50:26.000 um and how can they get involved Dr uh U
00:50:29.599 you got off mute right away and then I'm
00:50:31.720 get to
00:50:32.520 you so one of the things is that we can
00:50:36.119 do is this blacks account in Georgia
00:50:39.280 let's look at its state of Georgia black
00:50:41.200 account for 33% of the
00:50:43.880 population generate only 2% of the
00:50:46.960 revenues in the state of Georgia 33% of
00:50:50.680 the population 2% of the revenues and 5%
00:50:55.000 of business ownership we need need to
00:50:57.000 change that that's the first thing we
00:50:58.880 got to work towards and we've got to set
00:51:00.920 some goals for 2030 over the next six
00:51:05.040 years and by
00:51:08.799 2040 we need to be in parody with our
00:51:12.160 pop with the population and we can put
00:51:14.280 in place systems as sister raah hmer
00:51:18.280 said that we can make that happen right
00:51:22.160 whites population is
00:51:24.599 52% they gener they account for 88% of
00:51:28.040 the revenues the business re revenues so
00:51:31.079 you see where our revenues are going we
00:51:34.040 we need to get we need to get busy 70
00:51:37.559 and they account for 79% of all business
00:51:40.200 ownership we account for
00:51:43.359 5% they account for 55% of the
00:51:46.240 population 79% of business own ownership
00:51:49.520 and 88% of business revenues there was a
00:51:52.119 study done by McKenzie and company that
00:51:54.040 says that there's over and and by the
00:51:55.920 way blacks in the state of
00:51:58.880 Georgia generate 128 billion in consumer
00:52:04.839 spending so we have the dollars already
00:52:08.079 circulating within our community that
00:52:10.839 can be spent with blackowned businesses
00:52:13.799 McKenzie and com company did a a survey
00:52:16.520 that says right now blacks are
00:52:19.359 underserved there's about $300 billion
00:52:21.960 dollars nationally that could go to
00:52:25.119 blackowned businesses or any kind of
00:52:27.119 business and and like the sister said it
00:52:29.200 needs to come to us because we are being
00:52:31.400 underserved in five areas in food in
00:52:34.839 housing in health care in broadband and
00:52:38.440 in banking my sister Sabrina those five
00:52:41.880 areas there's no reason why we can't
00:52:45.520 begin to generate businesses to meet
00:52:48.319 that undeserved demand it's about 300
00:52:50.880 billion in
00:52:52.440 business that they indicated and they've
00:52:55.440 even said that blacks are even willing
00:52:56.960 to spend a little bit more money for
00:52:59.079 those Services if they're the right kind
00:53:00.599 of services and who know better what the
00:53:02.960 right kind of services black folks need
00:53:05.280 than black
00:53:09.480 women I'm gonna stop for right now
00:53:11.720 because I want to give my others this is
00:53:12.920 the opportunity to say something I thank
00:53:15.000 you thank you
00:53:17.640 Julie yes um one of the things that I
00:53:20.640 think we can do is really educate inform
00:53:23.240 and engage and all of these programs and
00:53:26.839 opportunities we talk about I think it's
00:53:28.720 on us before social media and all this
00:53:31.400 now we have a bigger platform we knew
00:53:33.400 about everything that was going on in
00:53:35.079 the C we had a drum beat we had a a
00:53:37.920 underground communication Network and we
00:53:40.200 got to get that back going think about
00:53:42.599 this I talked about public Contracting a
00:53:44.440 trillion dollars of the economy is that
00:53:47.520 and we participate at a rate at black
00:53:49.839 women
00:53:51.880 0.2% of public contracts and it's it's
00:53:55.119 it's sad and I I think we need to change
00:53:57.280 that how can we be locked out of 20% of
00:53:59.520 the
00:54:00.400 economy think what that would mean with
00:54:02.440 home ownership and everything else
00:54:04.680 that's important to us and so I think
00:54:06.960 that we need to make sure that we inform
00:54:09.200 let folks know that these programs are
00:54:11.119 out there get um certified if you need
00:54:14.000 to um take whatever free opportunity um
00:54:18.440 technical assistant classes because
00:54:20.000 there's a lot almost every agency has
00:54:21.920 something I talked about the port author
00:54:23.640 they do things to really put us in place
00:54:25.720 to engage and be a part of it and that's
00:54:28.119 on us to really move and motivate our
00:54:30.559 folks and pull everybody along to do
00:54:34.400 that thank you great comments uh I don't
00:54:37.400 know if Sabrina of rahama if you all
00:54:39.040 want to share anything and then um
00:54:41.240 Cameron I'm just gonna ask if anyone
00:54:43.079 have their hands up we can't see that
00:54:45.280 part um we can take them off you but
00:54:47.799 I'll take it over to uh rahama and then
00:54:50.960 Sabrina yes no of course um supporting
00:54:54.640 companies like mine Shay Yen Beauty I
00:54:58.400 will drop some links in the chat and I
00:55:00.440 know that the organizers will also share
00:55:02.680 our contact
00:55:03.960 information but
00:55:06.079 um write your local politicians I think
00:55:09.480 being politically involved is very
00:55:12.000 important even though sometimes it feels
00:55:14.400 like we're just not making the progress
00:55:17.559 and when we do make progress we get
00:55:19.359 rolled back so it can be an exhausting
00:55:21.400 process but I think that there it's
00:55:23.720 really important for us to be actively
00:55:25.960 involved in the political process um
00:55:28.520 writing our Representatives you know the
00:55:30.920 Fearless fund is one great example that
00:55:33.039 we can rally around um but show up at
00:55:36.680 the City Council meetings show up at the
00:55:38.720 PTA meetings you know run for office and
00:55:42.440 there are programs like vote run lead
00:55:44.599 that help black people get into
00:55:46.920 political office and I think that it's
00:55:49.400 not just one thing that is going to
00:55:51.599 address a lot of these systemic issues
00:55:53.640 it takes all sorts of people all s of
00:55:56.720 sectors you know the private sector the
00:56:00.559 public small business owners teachers it
00:56:04.119 takes all of us but I also think too
00:56:06.559 this is such such an important thing is
00:56:09.520 there is a mindset right that the things
00:56:12.400 that we're experiencing as black people
00:56:15.200 I think that quote that you were talking
00:56:16.599 about earlier Dr Tino where it's like
00:56:19.119 this is how we are just naturally we're
00:56:22.280 just naturally supposed to be oppressed
00:56:24.359 is a fallacy but I do think think that
00:56:27.079 that is a mindset that has been
00:56:29.400 perpetuated for hundreds of years and
00:56:32.359 unfortunately we need to be healed from
00:56:34.799 that mindset and we need to we we as a
00:56:38.599 community Need To Boldly and
00:56:41.760 aggressively stand up for ourselves and
00:56:44.839 this honestly is a time where we need to
00:56:47.480 all be ten toes down this is a ten toes
00:56:50.200 down situation and we all need to say
00:56:53.359 you know what we're sick and tired of
00:56:55.400 being sick and tired you can't do this
00:56:57.119 to us anymore no and it requires us to
00:57:00.640 be um in what is the word like I I don't
00:57:05.599 know if you all remember when Issa Ray
00:57:07.599 at the global Golden Globes I think she
00:57:10.000 was like I'm supporting everyone black
00:57:12.720 right she said that and then t-shirt
00:57:14.319 started coming out support everyone we
00:57:16.680 just need to say this is where we are we
00:57:19.200 are supporting our institutions we are
00:57:21.480 supporting each other we are supporting
00:57:23.760 our businesses and we're not going to
00:57:26.240 apologize about that because again if we
00:57:28.720 want to change this for the Next
00:57:30.400 Generation we can't we we have to be
00:57:32.920 bold and aggressive and demand it and I
00:57:36.200 think we see other people doing it and
00:57:38.119 it seems to work for them right I'm not
00:57:41.280 gonna you know this is being recorded I
00:57:43.799 don't want to it to come back and but we
00:57:46.920 need to be
00:57:49.240 as you know as aggressive as some other
00:57:52.559 groups are when it comes to demanding
00:57:54.280 the things they feel they deserve
00:57:56.599 absolutely
00:57:58.079 Sabrina I will be quick because I know
00:58:00.160 we're at time um I will say like
00:58:02.880 everyone should understand the power of
00:58:05.240 their dollar the power of their voice
00:58:07.280 when it comes to financial systems um
00:58:09.960 you know think about you know with
00:58:11.520 everything that you do whether it's you
00:58:13.000 know your bank or uh you know where you
00:58:15.720 shop at for hair products where you shop
00:58:17.480 at for anything you know what are those
00:58:21.480 companies what are those people doing to
00:58:23.160 support black people and can you divert
00:58:25.000 those dollars to black business
00:58:26.079 businesses I think everyone needs to do
00:58:27.799 that hard assessment we say this day in
00:58:29.440 and day out but when I hear uh
00:58:31.680 statistics like the one rahama mentioned
00:58:33.920 around only one billion out of6 billion
00:58:36.680 dollars is being diverted to Black
00:58:38.200 businesses we really need to be doing a
00:58:40.839 very uh critical self assessment with
00:58:42.960 where our money is going um so I'll
00:58:44.920 leave everyone with that it is very
00:58:46.640 important to do that and then also one
00:58:48.280 other thing is if you don't want to run
00:58:49.440 for office if you don't you know feel
00:58:51.559 like you can't make time to show up to
00:58:54.160 meetings Etc then support the
00:58:57.359 organizations and people who are doing
00:58:59.480 this work because they need your support
00:59:02.039 so remember we support with time and we
00:59:04.280 or we and or we support with money um so
00:59:07.359 please please um do that and if all else
00:59:09.680 fails let's create a new
00:59:12.520 system you know I wanted to add one
00:59:15.760 thing that I think we needed you talked
00:59:17.680 about the Fearless fund one thing that's
00:59:20.000 important to note is that those folks
00:59:22.400 used a n 1860 law that was made for us
00:59:27.160 coming out of slavery against us this
00:59:29.680 anti- dni which now I saiding it stands
00:59:31.960 for discrimination exclusion and
00:59:34.680 Injustice um they are taking everything
00:59:38.039 that was put in place to redress Jim
00:59:40.000 Crow and turning it against us so we're
00:59:42.280 at a major inflection time and and Miss
00:59:45.160 Wright I can't agree with you even more
00:59:46.799 everything you said everything that
00:59:48.480 everyone said is inspiring but I think
00:59:50.160 that's important to understand the
00:59:51.559 context of where we're going with all of
00:59:53.440 our conversation
00:59:56.680 yes oh Dr tanu and then we do have a
00:59:59.680 question in here okay do you want to
01:00:01.720 address that question first and I I'll
01:00:03.680 save my comment um okay let me get to
01:00:06.559 the question um so Charlene
01:00:10.640 Tarvin um says that she lives and work
01:00:13.240 in Syracuse New York which has the
01:00:15.079 highest concentration of black and brown
01:00:17.640 child poverty in the nation uh we host
01:00:21.039 an an expo incubator and are developing
01:00:24.119 an affordable housing Pro however it's
01:00:26.720 been very difficult to secure corporate
01:00:28.760 and philanthropic funding because we are
01:00:30.920 not in the major Metropolitan Market
01:00:34.079 despite the need for entrepreneurial
01:00:35.880 lead economic development companies like
01:00:38.559 Chase Amazon Walmart Coca-Cola
01:00:42.680 Starbucks um they don't invest in black
01:00:45.839 women here are there any suggestions for
01:00:50.799 her um I'll I'll jump in and I'm happy
01:00:53.960 to talk with Charlene one one um if we
01:00:57.520 can exchange contact information I'm not
01:00:59.119 sure um I you know I can definitely
01:01:01.079 provide some suggestions I think you
01:01:03.440 know there are defin there are alliances
01:01:05.480 that you can check with um just know I
01:01:09.000 mean one thing that and I hate to answer
01:01:10.400 it like this is that there's a lot of
01:01:11.760 people looking for corporate right
01:01:13.200 funding and a lot of people with uh
01:01:15.200 initiative specifically focused on
01:01:16.799 reducing the racial wealth Gap and and
01:01:18.640 investing in black women and the I think
01:01:20.760 part of uh some of the issues you may be
01:01:22.640 finding is that um you know there's only
01:01:24.920 so many dollars out there there uh but
01:01:27.440 I'm happy to provide some direct
01:01:30.000 guidance um if that makes sense and
01:01:32.400 again you know would love for to be able
01:01:34.400 to share my contact information maybe
01:01:36.160 I'll just put it in the chat for
01:01:37.400 everyone any person that wants to follow
01:01:39.160 up with
01:01:40.599 me I'd like to briefly respond to that
01:01:44.119 you know there has to be something
01:01:45.720 called
01:01:47.599 reciprocity um the dollars that we pour
01:01:50.000 into cocacola and Walmart and Amazon and
01:01:54.039 Starbucks the billions of dollars that
01:01:56.400 we pour in and the little bit of money
01:01:58.520 that they give
01:02:00.880 back it's not reciprocal we have to
01:02:03.880 demand some level of re reciprocity and
01:02:07.279 we have got to put the data out front
01:02:09.240 and say this is what we put it pour into
01:02:11.520 you and this is what you get back we're
01:02:13.440 not doing this
01:02:15.240 anymore so we've got a demand as sister
01:02:20.559 rahama said that we've got to demand and
01:02:23.720 not be fearful love it we've got to be
01:02:28.079 Fearless as The Fearless One is name
01:02:30.680 Fearless when it comes to this that's
01:02:33.760 right so um that's my response but I
01:02:35.880 wanted to make one one more comment
01:02:37.640 whenever you want to take comments
01:02:39.279 sister Cassandra okay go ahead yeah so
01:02:43.599 so what so mik I don't know if you have
01:02:45.240 a question about what we do next but one
01:02:46.680 of the things that we can do we know
01:02:49.359 that we have power we have consumer
01:02:51.559 power we have consumer power as members
01:02:54.240 of the African diaspora as as the sister
01:02:56.440 said uh my I'm married to a Nigerian my
01:02:59.359 children are half Nigerian and half
01:03:01.240 American and my grandchildren are a
01:03:03.319 fourth or whatever maybe more than that
01:03:05.200 because I don't know my Heritage because
01:03:06.839 I was born in South
01:03:09.000 Carolina but what we can do is what they
01:03:11.559 did in 1774 when they did the Articles
01:03:14.920 of Association that they created to
01:03:17.920 bring themselves together as not just
01:03:20.200 desparate colonies but as a country what
01:03:23.799 we can create our own article
01:03:26.279 of Association and particularly black
01:03:28.480 women can do that within the the
01:03:31.079 diaspora to say exactly what we've said
01:03:33.440 here today we're gonna support black
01:03:36.480 we're gonna all through the supply
01:03:39.680 chains for various goods and services
01:03:42.400 that we spend monies on and and that's a
01:03:45.960 tremendous impact we've got the
01:03:48.440 resources natural resources much of it
01:03:52.119 on on the African continent that we can
01:03:54.039 Source from whether it's you know fche
01:03:56.799 butter or whatever it is cocoa whatever
01:03:59.960 we can do any and everything there we've
01:04:02.000 got relationships in terms of potential
01:04:05.160 relationships with our land grant
01:04:07.799 colleges and universities when it comes
01:04:09.960 to entrepreneurship and engineering and
01:04:12.559 agricultural stuff there's no reason why
01:04:14.760 we shouldn't and I think that the
01:04:16.440 project that I'm working on at Tuskegee
01:04:18.680 state of African-Americans and the black
01:04:20.559 belt we Define the black belt as the 15
01:04:23.839 former slave states
01:04:26.559 that's where the slaves were the most
01:04:28.359 numerous and it's within that framework
01:04:31.640 that we can begin to really connect and
01:04:34.559 do what we need to do and we can use
01:04:36.279 Georgia as the example of what we can do
01:04:38.760 here but I just I I'm excited about the
01:04:41.720 possibility I am pissed off and and I
01:04:44.920 think the worst thing you can do is
01:04:46.160 pissed off piss off a black woman that's
01:04:48.200 the worst thing that you can do and
01:04:50.640 they've done it and we about to to show
01:04:54.799 we we're about to step into who we are
01:04:57.119 step into our greatness that's right
01:05:00.160 that's right thank you I am getting
01:05:02.760 ready to turn this over to um sfia and
01:05:06.480 before she um says her closing remarks I
01:05:10.279 just want to say thank you ladies um for
01:05:14.599 bringing your expertise um bringing your
01:05:17.960 commitment to black people um to on this
01:05:21.000 forum today and I want to say to
01:05:23.640 everyone else who is watching elections
01:05:26.599 are coming up and we can't have this
01:05:28.440 conversation without talking about the
01:05:30.240 vote the power of the sister vote Dr
01:05:33.160 tanu this is how we show up we show up
01:05:36.400 at that poll we know that black women
01:05:39.119 turn out always have turn out at the
01:05:43.440 poll this is the time that we are
01:05:45.599 educating our communities and getting
01:05:47.799 them ready to turn out at the poe for
01:05:50.319 this upcoming election is going to be
01:05:52.200 key and critical um and so I just want
01:05:55.039 to thank you you all so much um for what
01:05:57.680 you do in your communities um and what
01:06:00.400 we all bring together collectively to
01:06:02.839 make sure and what I say shifting power
01:06:05.520 at the voting booth at the policy table
01:06:08.160 for black women and girls so thank you
01:06:10.240 all so much and I turn it back over to
01:06:11.880 you
01:06:13.839 Sophia wow my heart is so incredibly
01:06:18.279 full I I cannot thank you Cassandra all
01:06:21.799 of you pan all of the panelists for
01:06:23.520 agreeing to participate in this convers
01:06:26.119 ation I hope you saw the reaction
01:06:28.960 because we were with you the entire way
01:06:32.160 we appreciate your leadership we
01:06:33.960 appreciate your passion and your
01:06:36.119 Devotion to us as a people so thank you
01:06:38.640 so much for your words thank you to the
01:06:40.720 audience for joining us we did go a
01:06:42.680 little bit over but thank you so much
01:06:44.720 for sticking with us um we are having as
01:06:47.960 Cassandra said we're GNA have one more
01:06:50.520 webinar in the series the next topic is
01:06:54.039 on the vote democ rcy on the ballot we
01:06:57.599 do have an election coming up and we do
01:06:59.440 want to inform all of you on what those
01:07:01.920 election issues are particularly for the
01:07:04.119 black community and and low-wage workers
01:07:06.520 cassandre will be back she'll be a a
01:07:08.599 panelist this time um and that's going
01:07:10.640 to happen on Monday July 22nd hope you
01:07:13.279 all can join us and um thank you so much
01:07:16.279 for your participation look out for a
01:07:18.400 thank you email from us with additional
01:07:20.520 resources please stay involved and
01:07:22.880 please continue the fight
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