–> It’s going to take a village but it can work!
The founder of a Black family-owned non-profit is on a mission to give away $50k twice a month for 100 years through grassroots organizing efforts, BlackNews.com reports.
Niamke Muhammad is the founder of The B Network Group, a coalition of individuals dedicated to providing reparations to the African and African American community by funding entrepreneurs. Muhammad is using his decade of experience in finance, working for major companies like Rolls Royce and the Discovery Channel to inform his new grassroots efforts. The family owned organization is looking to create 100 years of wealth by calling on the community to assist with funding Black entrepreneurs.
The group is asking for a one-time donation of $50 from at least 4 million people willing to support Black entrepreneurship. Their goal is to fund any Black entrepreneur with a solid business plan without the help of corporations, celebrities or sponsorships. They want to create a financial infrastructure for the people, by the people, with the goal of assisting Black businesses with getting the finances they need to get started. The goal is to give away $50,000 twice a month for 100 years to anyone with a business plan that will create jobs and industry in the African or African American community across the globe. In addition to the $50k allotment, the organization will also choose one company, corporation or non-profit annually to award $500,000.
“We are simply asking four million people to donate $50. This small one-time donation will provide generational wealth and motivate millions to become entrepreneurs. We believe if we can show the world that by giving up one night of partying, we can provide one hundred years of financial independence. That will be a great start and a true sign of community maturity,” said Muhammad.
While getting 4 million people to donate funds seems like a heavy lift, the organization asserts that it’s not and has a pretty clear strategy on how the funds will be allocated. If 4 million people donate $50, that equates to $200 million raised. The plan is to then take 85% of the donations and donate them to a charitable cause, leaving 15% of funds given to The B Network Group. $120 million will be allotted for giving away $50k twice a month every month for a century and $50 million will be allocated towards the annual $500k giveaway for 100 years, leaving $30 million for The B Network Group.
The organization has plans to not only fund Black businesses but also assist with getting the entrepreneurs products into marketplaces. Their goal is to have an African/African American choice in all fields of businesses in the country and across the globe. Of the $30 million allotted to the or, $10 million will go towards finding and funding educational outlets for the Black community with another $15 million spent on health care outlets for the community and $5 million allotted for operating costs.
All they’re asking is for 4 million Black people to commit to a $50 donation. Together, we can.