February is Black History Month, focusing on the contributions and breakthroughs of black professionals.
‘In the black’ is a financial term used to convey that a bank account contains some money or a person is not in debt.
The idiom ‘in black and white’ involves a simple choice between two opposite things (good and evil or right and wrong).
A report funded by the Robert Wood Johnson Foundation found that “Historically, financial institutions have not served people of colour effectively or fairly. Even today, people of colour have less access to credit, pay higher interest rates for loans, and are less likely to receive venture capital funding compared to their white counterparts.”
Despite this, a diverse group of black professionals on the financial and economic landscape have helped pave the way with establishing black banks, insurance companies, hotels and hair care companies, investments in technology and software companies, etc. These groups aim to improve economic justice with a blend of strong social conscience and rigorous risk management.
By breaking career barriers, significantly changing local communities, and fundamentally impacting the financial and economic landscape, black professionals continue to plant the seeds for the modern corporate sustainability movement by challenging the principles of the idiom ‘in black and white.’ Right or wrong, black individuals have long faced hurdles, including lending discrimination and racism in the financial industry. Yet, despite these setbacks, legendary black figures have made extraordinary achievements in the financial sector and are notable for their expertise and influence.
A meaningful way to honour Black History Month is to recognize the importance of education, raise awareness and act on diversity and inclusion initiatives, and strengthen the communities and industries in which we serve. Strive to be more purposeful in attracting, engaging and growing more diverse networks.
Black women, in particular, have shaped their own identities while taking decisive actions to advance the survival, preservation, and growth of countless initiatives. As advocates and catalysts for change, let’s do our part to promote equity and human rights, cultivate and contribute to the economic prosperity of the black community, celebrate the historical and contemporary achievements and contributions of black communities, and strive to protect, preserve, promote, inspire and improve the lives of all black people.
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Jacqueline Biollo is a descendant of Jamaican ancestry. She’s travelled internationally, with many destinations still on her bucket list to visit. She enjoys trying foods that awaken her taste buds. www.linkedin.com/in/s0ngbird
