Research conducted by the nonprofit Private Equity Stakeholder Project shows that Arizona and Georgia top the list in housing, with more private equity firms purchasing rental homes. Massachusetts and Alabama are on the high end in terms of impact on jobs and employee relations, while healthcare systems operated by financiers have dominated New Mexico and West Virginia.
Lastly, Washington, Louisiana, and Michigan are at a high end in pension risk due to investments in private equity.
In the last few years, private equity firms have been responsible for shifts in the United States economy in a vast group of industries outside of the top four. Other spaces seen under the influence include supermarkets, child care, fast food operations, pet care providers, and senior living centers.
Even the departments of first responders are impacted, as 40% of emergency departments are operated by staffing companies owned by private equity firms.
According to MetLife, by 2030, companies supported by private equity could potentially own 40% of the nation’s single-family homes, adding a risk for areas already facing increased housing costs. In Fulton County, Georgia, the selection of single-family homes owned by corporate landlords has doubled to 6,429 in 2023 from only 3,169 in 2018. With a staggering number of rent increases in Atlanta, nonprofit Housing Justice League’s Alison Johnson said the private equity firms are putting residents in a tough spot. “They have us in a chokehold,” she said.
“They have purchased so many homes here, they get to manage the market. They get to tell us what rents are set in areas where they have absorbed all the housing.”
Patrons of these businesses are unaware of the private-equity ownership since the firms don’t put their names outside the buildings or paperwork. The report’s positive side is that Private Equity Stakeholder Project policy director, Chris Noble, says state leaders have “the tools to protect the people they serve” from these firms.
Since private-equity firm ownership risks a decline in healthcare, lawmakers are pushing to “take for-profit, equity-based companies out of the healthcare system.”
Senate Ways and Means Chairman Michael Rodrigues (D-Mass.) said Gov. Maura Healey must change the damage done to the state healthcare network, Steward Health Care network, and other surrounding hospitals. “I’m worried about health care in general because all of our providers, all of our hospitals, are facing immense pressures — labor and workforce pressure, they can’t get enough nurses; inflationary costs, health care costs generally have increased more over the last year than it has in probably the prior decade,” Rodrigues said, according to Mass Live.
He added that Cerberus Capital Management, who purchased Steward, made $800 million. The Democratic legislator believes that money would have been better off being pushed “back into the healthcare system” instead of into corporate pockets.
While an independent study found that private equity ownership of nursing homes, hospitals and physician practices hurts patients, pro-private equity advocates like the American Investment Council argue that corporate acquisitions only improve their investments. “Private equity investments consistently support quality, affordable health care for patients across America,” the council wrote.
Under a deal with Bantam Books, Bantam will publish the first two novels of the series surrounding Beau Lee Cooper, a Black civil rights attorney who “tackles heart-wrenching cases of corruption and injustice while celebrating Black love, joy, and resilience.” Crump celebrated the news on X, formerly known as Twitter, highlighting both novels as being “informed by my decades of courtroom experience and personal revelations with the world!”
I’m excited to share this series, informed by my decades of courtroom experience and personal revelations, with the world!
The announcement was met with warm congratulations remarks on social media. Some book fans even dropped recommendations on the cases they hoped Cooper would solve.
“Wow. That’s amazing. I hope he solves the mystery of Rachel Jeantel and who Trayvon Martin’s real girlfriend was. Now, that would be a spicy twist!” @OnRecliner tweeted.
As Crump has defended and secured settlements for the families of Trayvon Martin, Breonna Taylor, George Floyd, Henrietta Lacks, and more, the prominent civil rights advocate thinks it’s imperative for people to see the realities of the legal world and the justice system. “I feel it’s important to introduce a charismatic figure to the world who shows the realities of the legal landscape and the justice system through the eyes and experiences of the marginalized and the voiceless,” Crump said.
“A person of color who allows readers to step into an expansive universe of characters they may never otherwise notice or understand and, in the process, hopefully, be inspired to broaden their perspectives and even decide to play a part in moving society towards true justice for all.”
This isn’t Crump’s first venture in the entertainment industry. In 2022, he was the subject of the documentary Civil, which can be found on Netflix. His voice and production skills were utilized as he narrated the documentary short film How to Sue the Klan: The Story of the Chattanooga Five, which was an official selection at the Social Justice Now Film Festival and will premiere at the American Black Film Festival (ABFF) and the Martha’s Vineyard African American Film Festival in late 2024.
The announcement isn’t getting in the way of Crump’s continual fight for the rights of victims of police brutality. Crump recently spoke at the press conference outside a Miami-Dade County courtroom where Donald Lenard Armstrong was scheduled to be arraigned. According to NBC Miami, Armstrong was shot numerous times by police officers following an incident on March 7 and was later charged with aggravated assault on a law enforcement officer and resisting an officer without violence.
Crump and co-counsel Larry Handfield are asking for the charges to be dropped and, if not, request bond. “It’s insult on top of injury, and that is why we are demanding these charges to be dropped,” Crump said. “They shoot and paralyze him, and now they charge him with aggravated assault?”
The team also requested the officer who shot Armstrong be criminally investigated.
These Strategies Will Help You Manage And Lead Multigenerational Teams To Success
One of the most pressing challenges facing managers today is effectively leading multi-generational teams.
Written By Chelsea C. Williams, Founder & CEO, Reimagine Talent Co.
One of the most pressing challenges facing managers today is effectively leading multigenerational teams. With five generational cohorts in today’s workplace–traditionalists, baby boomers, Gen Xers, millennials, and Gen Zers–each brings unique experiences, values, and approaches to work.
Fostering harmony and collaboration among these diverse cohorts is essential for business and team success.
As a founder and CEO, my team and I work with leaders and managers who struggle with multigenerational team dynamics. As retirement patterns shift, individuals are working longer than ever before. Baby boomers and traditionalists are still working because of the COVID-19 pandemic and financial need; this is especially true for communities of color. Meanwhile, Gen Z is hungry for opportunities to advance quickly and move into leadership roles. All generations can become easily frustrated by a lack of understanding of their younger or older co-workers.
All organizations can benefit from learning to lead across generations to build, engage, and retain a multigenerational workforce.
Understanding Each Generation
First, let’s take a moment to clarify what generational analysis means and how it is used to help shape insights into the different cohorts in today’s workforce and workplace.
Accustomed to change and expects it in the workplace.
Values in-person interactions.
Seeks feedback on a frequent, ongoing basis.
Millennials, born 1981-1996:
Wants to be coached and mentored.
Prefers collaborative and technology-centric training.
Must be in alignment with company values.
Generation X, born 1965-1980:
Views change as a vehicle for opportunity.
Embraces a hands-off management policy.
Is entrepreneurial and results-oriented.
Baby Boomers, born 1945-1964:
More reserved in communication style.
Values traditional instructor-led courses or self-learning tools.
Appreciates managers being ethical, fair, and consistent.
Traditionalists, born before 1945:
Believes in hierarchical management styles.
Has a strong work ethic and loyalty to an employer.
Slow to adapt to new technology.
Values Vary Across Generations
First, let’s recognize that employees’ values vary across generations. What constitutes success, fulfillment, and recognition in the workplace differs significantly from generation to generation. Therefore, adopting a one-size-fits-all approach to management is not effective. Instead, managers must tailor their strategies to accommodate each generation’s diverse needs and expectations.
At Reimagine Talent, we are seeing our clients diversify their benefit options, like retirement, 401(K) savings, and student loan repayment, to appeal to younger and more seasoned employees.
We have heard from many students and early career professionals who decide where to work based on an organization’s social image, commitment to “do good,” and team diversity. Many Gen Zers from underrepresented communities have said they do not want to be a company’s “one and only” minority representative.
Furthermore, external realities, such as social, political, and environmental factors, impact each generation differently. While older generations may have experienced similar challenges in wars and economics today, younger generations, like Gen Z, confront these issues with fresh and inexperienced perspectives. Understanding how these external factors shape each generation’s worldview is crucial for effective leadership.
Different Communication Preferences
For managers from older generations, integrating Gen Z and Gen Alpha members (those born entirely in the 21st century) into their teams requires an understanding of the evolving nature of work. Significant differences exist in how these younger generations access and consume information compared to their predecessors. Platforms like YouTube and TikTok are central to shaping their perceptions and behaviors. According to SocialPilot, it’s estimated that 96% of Gen Z and 87% of millennials in the U.S. have a YouTube account.
Managers must adopt a dual role of overseeing and guiding younger team members, providing mentorship and coaching while sharing best practices to support their professional development. By embracing the shifting trends and preferences of younger generations, managers can create an environment conducive to collaboration and growth.
What resonates with one generation may not satisfy another. Use various methods, from in-person and written interactions with older generations to chat platforms and short video announcements with younger workers.
Consider expanding the communication mediums on your team and, most importantly, ask each team member what communication works best for them. In cases where your team may be hybrid or fully remote, this focus on clarifying communications becomes vital in building a strong team culture.
Challenges Facing Older Vs. Younger Generations
Another important factor to consider with a multigenerational team is the personal challenges that may affect their work, finances, and mental health. Be cognizant of life stages and challenges and offer resources and guidance to help your team through them.
Personal finances, economic climate/job opportunities, mental health, and climate change worries impact younger generations. There’s a growing mental health crisis for everyone, but especially younger generations. The Thriving Center of Psychology reported that 1 in 4 Gen Zers and millennials said their mental health declined in 2023, and more than half reported they are going or have gone to therapy. Managers should be mindful of mental health needs and willing to provide reasonable accommodations for some team members.
On the other end of the spectrum, older generations are impacted by concerns about reaching or achieving retirement, receiving fair compensation as they age, having work flexibility to slow down or reduce hours, and stress about using advanced and new technologies. In a recent retirement survey by Schroeders, 61% of non-retired Gen Xers were not confident in their ability to achieve a dream retirement, and 84% of Gen X respondents were concerned or terrified about not receiving regular paychecks. Many older workers plan to work for as long as they can simply because they must. Managers can help alleviate some of this stress by providing financial resources and having open, honest conversations about job security.
Build a Culture of Inclusion
One generational shift that has caused tension in the workplace is the heightened conversations and actions toward diversity, equity, and inclusion.
Fostering a diversity, equity, and inclusion culture is critical for all generations to feel supported and valued at work. When done well, diversity, equity, and inclusion initiatives serve as the bridge in bringing people of differences together toward a common goal. As one example, Employer Resource Groups (ERGs) are a great way for organizations to help create welcoming environments and advance business priorities. For one of our clients at Reimagine Talent, ERGs help bring generations together through powerful educational programming offered to all employees. During Disabilities Awareness Month, three ERGs worked together to shed light on accessibility at work and provided practical resources to help employees advocate for people with disabilities.
Advice for Millennial Managers
As a millennial founder & CEO, I am in the middle of the generational spectrum. I have been challenged with navigating the dynamics between younger and older team members. I’ve learned how important it is to be mindful of differing experiences and approaches to work. Through this journey, I have learned much and seen my leadership skills evolve by simply asking questions, being flexible, and maintaining transparency.
While drawing on established best practices like respect, promptness, and thoughtfulness, millennial managers should remain open-minded to evolving trends with Gen Z team members, such as using A.I. technologies and the gig economy. Flexibility, adaptability, and a willingness to embrace change are essential for millennial managers leading multigenerational teams.
Each generation brings value to your organization. The significance of multigenerational diversity extends beyond your internal teams. As employees and consumers, all generations play dual roles in shaping business success. A multigenerational workforce provides a competitive advantage, offering a deeper understanding of diverse consumer segments. By harnessing insights from different generations, you can create strategies that resonate with today’s growing customer segments.
Navigating multigenerational teams requires self-awareness and the desire to build the bridge within your team! Managers can cultivate team harmony by recognizing and leveraging each generation’s unique strengths and preferences to drive productivity, innovation, and organizational success in 2024 and beyond.
Chelsea C. Williams, an entrepreneur, workplace educator, and mentor, is the founder & CEO of Reimagine Talent Co., a national talent development firm based in Raleigh, NC. Her national team empowers employers, educational institutions, and nonprofits with high-impact HR & career development solutions that support employee engagement, development, and retention.
Chelsea is a trusted contributor to CNBC, Fast Company, Investment News, Insider, and Forbes, focusing on leading multigenerational teams and developing Generation Z. She’s a 2021 Forbes Next 1000 Award recipient, 2022 Tory Burch Entrepreneurial Fellow, and 2023 Entrepreneurial Impact Awardee by J.P. Morgan Chase Commercial Bank and Women Presidents Organization (WPO). She is passionate about redefining workplaces through innovation and inclusivity.
At The Intersection Of Black Culture And Country Music Lies History
Let's talk fact, history, strategy, money, business, and Beyoncé's chart-topping album
Written by: LMarilyn Crawford
Country music, often associated with rural America and the heartland, has deep roots in African American culture. Its origins can be traced back to the African American musical traditions of blues, gospel, and folk music. While the genre has predominantly been represented by white artists, black musicians originated and have played a significant role in shaping its sound and style.
One of the most notable contributions to country music from the black community is the influence of the banjo, an instrument with West African origins. African American musicians such as Darius Rucker and the late Charley Pride have defied stereotypes and garnered widespread acclaim in the industry. Unfortunately, the Country Music industry cherry-picked one or two. When they lost Charley, they then found Darius Rucker. Both extremely talented in their own right, but the industry rarely opened the door and embraced more than one at a time. It’s been a slow process, but recent activities have added some fuel, and now is the time to put the pedal to the metal. These trailblazers have shattered barriers and paved the way for others to follow.
Believe me, there are so many more out there that could pour new life and inclusivity respect into the genre. Then you have the one-time black country music flukes, like Lil Nas X, who had a mega-hit because of Billy Ray Cyrus’s collaboration.
In recent years, we’ve seen a renewed interest in black artists within the country music scene. Beyoncé is a talented, business minded genius, who is a black woman. Yessss! She is already at the top of her game, reigning globally as ‘the’ Superstar, with one of the largest fam bases and audiences in the world.
Beyoncé’s foray into country music was nothing short of genius. It was an expansion of her world, her conglomerate, her empire, her dedication to educating and mobilizing and elevating all of us. It is her commitment to the American Constitution and to our Culture. The timing in her career was optimum.
Beyoncé’s chart-topping song, “Texas Hold ‘Em” album showcased her versatility as an artist and brought a fresh perspective to the genre of country. Moreover, Beyoncé’s groundbreaking collaboration with the Dixie Chicks on the track “Daddy Lessons” further blurred the lines between country and pop, illustrating the evolving landscape of country music. This collaboration not only introduced Beyoncé to a new audience but also challenged traditional notions of genre boundaries, encouraging fans to embrace a more diverse range of musical influences.
Beyoncé’s success in the country music realm serves as a testament to the genre’s ability to transcend cultural and racial barriers, fostering a more inclusive and expansive musical landscape. Her innovative approach to blending genres has opened doors for other black artists to explore and excel in the country music genre, paving the way for a new generation of trailblazers.
However, while artists like Beyoncé have achieved crossover success, there are countless black musicians like Dean Crawford who have dedicated their lives to country music without receiving the recognition they deserve. Crawford, feels, lives, speaks, and bleeds country. Half Jamaican and half black, he is the antithesis of country, yet that has been his lifelong dream and action. From playing backroom bars to huge casinos and The House of Blues, he has never been discovered or given his deserved place at the top. Record companies and executives missed the beat and overlooked this country music treasure. Dolly Parton, the Queen of Country, and Crawford would make a great country duet! Crawford is a prolific songwriter with over 550 songs to his name, and he embodies the passion and dedication of these unsung heroes. Despite their talent and contributions, many black artists continue to face barriers within the industry.
It’s crucial to acknowledge the historical context in which country music emerged and how it intersects with the experiences of black Americans. The term “cowboy” originated from black men who were proficient on farms, working as skilled laborers, and often tending to cattle. Similarly, the term “cattlemen” has a history deeply intertwined with the experiences of slaves and black men in the American South. Cattlemen were used by Caucasian men working on farms, but they chose “boy” to describe black grown men. When it became more popular, they appropriated the name and stole it for themselves.
The acceptance of black country singers by mainstream country fans has been a gradual process. While some fans have embraced diversity within the genre, others have been slower to accept change. However, with the rise of social media and streaming platforms, there are more opportunities than ever for artists to connect directly with their audience and bypass traditional gatekeepers.
The economic, mental, and cultural impact of black artists in the country music industry extends far beyond the borders of America. Their music resonates with audiences around the globe, transcending language and cultural barriers. By embracing diversity and celebrating the rich tapestry of voices within the genre, country music has the potential to continue evolving and reaching new audiences.
In terms of financial impact, the country music industry benefits significantly from the contributions of black artists. Concerts, album sales, and streaming revenue generated by black country music artists contribute to the overall economic health of the industry. According to recent statistics, the country music industry generated over $7 billion in revenue in 2023, with a significant portion attributed to the success of black artists. Moreover, the growing popularity of black country music artists among diverse audiences has led to increased ticket sales and merchandise purchases, further bolstering the industry’s financial prosperity.
As we look to the future of country music, it’s essential to recognize and celebrate the contributions of black artists. Their stories, experiences, and perspectives enrich the genre and ensure its continued relevance in a rapidly changing world. By fostering inclusivity and embracing diversity, we can ensure that country music remains a vibrant and inclusive art form for generations to come. Here’s a salute to Black country music artists and all the fans who embrace them and the music.
New Study Claims The Validity Of U.S. Maternal Mortality Rates Are Up For Debate
A new study proposes an alternative method to collecting U.S. maternal mortality rates, suggesting that the current numbers are an overestimation.
A new study published by the American Journal of Obstetrics & Gynecology has proposed that the CDC’s current U.S. maternal mortality rates are inflated.
The study emphasized that the current categorizations for the statistics contribute to this supposed inflation, as reported by ProPublica. Its alternative resolution suggests only counting maternal mortality if a cause listed on death certificates specifically mentions pregnancy.
The publication did note that there is room for flaws in data collection, especially as direct reporting by doctors on patients’ causes of death is how the CDC gathers this information. It also stated how changes to abortion access across the country had played a role. States with limited or banned access have higher maternal mortality rates.
The CDC, however, refuted the claims that their data misleads Americans on the state of the maternal mortality crisis. In its perspective, changing the categorization will lead to further misinformation and marginalization of the issues causing it.
“To reduce the U.S. maternal mortality crisis to an ‘overestimation’ is irresponsible and minimizes the many lives lost and the families that have been deeply affected,” explained Dr. Christopher Zahn, interim CEO at the American College of Obstetricians and Gynecologists.
The CDC has also noted that it has addressed these challenges regarding data collection in past reports. The health organization has also implemented additional measures to ensure the accuracy of this growing statistic. These included not considering a pregnancy checkbox on the death certificates for women 45 years of age or older. They maintain that their current calculations, even if over the actual number, still correctly detail that the rate is increasing.
“We feel fairly confident that there has been an increase [in maternal mortality], particularly during the pandemic,” Robert Anderson, the CDC’s chief of mortality statistics, told CNN. We went from underestimating to overestimating, so we had to make that correction. But I feel fairly confident that the increases since 2018 are real.”
However, the study’s implementation between two time spans differs from the CDC’s numbers. While the CDC noted an increase in maternal mortality, the study listed a stagnant rate for 1999-2022 and 2018- 2021.
Regardless of the distinct numbers, Black women continue to be most impacted by maternal mortality. The new study also confirmed that their numbers remained higher than the other racial groups. This rate is nearly three times higher than that of their white counterparts, even with the alternative method used.
While the divide persists regarding the best course of action to track maternal mortality, the CDC remains committed to addressing the groups and factors critically tied to the issue.
Jamie Foxx Partners With WES Brands To Release BSB Whiskey
'As an avid whiskey drinker, owning a brand that is sippable and unlike any other has been a life goal of mine; with BSB, I’m finally making that happen.'
Multitalented actor, singer, comedian, and businessman Jamie Foxx has partnered with spirits incubator WES Brands to unveil BSB Whiskey, a flavored spirits brand.
The liquor is a 70-proof whiskey that combines the aromatic spice of cinnamon with the sweetness of brown sugar. The BSB is an acronym for Brown Sugar Blend and is being introduced by Foxx, BSB Whiskey’s brand owner and creative director.
“Life is precious, so I’ve always tried living it to the fullest. As an avid whiskey drinker, owning a brand that is sippable and unlike any other has been a life goal of mine; with BSB, I’m finally making that happen,” Foxx said in a written statement. “BSB is an ode to my personal philosophy – it’s about bringing people together to celebrate life and have fun.”
The 750ml bottle will be sold for $24.99 across the United States, and more info about the brand can be found online at BSB Whiskey. You can also follow the brand on Facebook and Instagram.
WES Brands has also hired Naeemah Leonard, a 15+ year veteran in the wine and spirits industry, as its new Senior Brand Director of Whiskey. Based on her past work in brown spirits and the management of many celebrity partnerships, her expertise will support the company’s focus on BSB Whiskey.
After a well-publicized health scare that prevented Foxx from hosting his game show, Beat Shazam, for season six, the celebrity entrepreneur will return for season seven, along with his daughter Corinne. Last month, the network announced that the Any Given Sunday actor is back. The show will return for season 7 on Tuesday, May 28, at 8 p.m. and will also be shown on Hulu.
“Jamie and Corinne are the heart and soul of Beat Shazam,” said Allison Wallach, FOX Entertainment’s president of unscripted entertainment, in a written statement. “As our undeniably dynamic father-daughter hosting team, they bring a relationship like no other to a show like no other, and it’s wonderful having them back on set this season.”
Are You Electronically Filing In The Best Way Possible And Clocking Those Deductions?
Here how to file your taxes electronically and a list of deductions that you should take advantage of.
Originally Published Apr. 15, 2019.
April 15 is the day that all taxes are due. So how do you digitize your taxes and claim your deductions? For starters, use online services like TurboTax and the IRS’s E-filing system. It makes filing extremely seamless. Here is a list of deductions that you should look into and take full advantage of:
Home Office Tax Deduction
The eligibility rules for claiming a home office vary, but remote workers and self-employed filers make sure you claim this break. You are also eligible to write off expenses that are associated with the portion of your home where you exclusively conduct business. These expenses include rent, utilities, insurance, and housekeeping.
Business Expenses
If you drive for Uber on the weekends or rent out your house on Airbnb, you could qualify as a business owner and should be filing a Schedule C tax form. As a general rule, freelancers can write off business-related expenses, but they have to be necessary.
Student Loan Interest Paid
You can deduct up to $2,500 of student loan interest per return, per year. You can claim the student loan interest tax deduction as an adjustment to income. You don’t need to itemize deductions to claim it. Go to your student loan provider to access the forms and upload them on TurboTax.
Moving Expenses
Don’t be fooled. The moving expense deduction is no longer available in tax years 2018-2025 due to the Tax Cuts and Jobs Act (TCJA) but there are some exceptions to the rule. If you moved to a new location because of work and are a member of the military, you may qualify to use IRS Form 3903 to claim the cost of your moving expenses as a deduction on your federal income tax return.
Claim your Dependents
New tax laws allow you to claim a dependent credit, either $500 or $2,000 depending on the status of the dependent.
Don’t be late and remember if you need to file an extension, you can do so here.
Roc Nation’s Lenny S. Kept On Payroll By JAY-Z When There Wasn’t Work
"I don't even want to take your money. He was paying me as a staff and I didn't even want to take your money and he was like, 'You're good.'"
Senior Vice President of Roc Nation, Lenny S., is also a photographer who has worked with JAY-Z for many years in various roles in his companies.
In a recently resurfaced clip originally aired on the popular financial podcast Earn Your Leisure, the executive revealed that Shawn Corey Carter (JAY-Z) paid him out of his pocket when the billionaire was between record labels and didn’t have employment for Lenny.
During a discussion with podcast hosts Rashad Bilal and Troy Millings, the Roc Nation executive explained that JAY had officially retired before running Def Jam and years before he started Roc Nation, and Lenny was still an employee of Roc-A-Fella Records. Although he received offers from other record labels yearning for his A&R services, JAY-Z advised him to chill. But Lenny took a job with Virgin Records and worked there for about a year.
“When he retires, I leave to go to Virgin Records for a year. I didn’t want to work anywhere else, but Jay really, really wasn’t doing anything, like really. Like, he was done, and there was no work. There was no label. But, I was still on his staff, and I was like, JAY, I’m getting these offers from all these labels, like, yo, let me just come, and he’s like, no, you good, just stay here, and I’m like, we’re not doing anything.”
“I don’t even want to take your money. He was paying me as a staff and I didn’t even want to take your money and he was like, ‘You’re good.’
Lenny said he went to work with Big John Platt at Virgin Records for a year, but not before getting the blessing from JAY-Z because the rapper and Big John were great friends. That made it easier for Lenny to break away from JAY-Z. When JAY-Z became the president of Def Jam, Lenny went back into the fold and has been working with the Brooklyn-bred businessman ever since.
Isipho Capital First 100% Black-Owned Hino Dealership In South Africa
Isipho Capital founders Sipho and Fortunate Mdanda have stepped into history with South Africa's first 100% Black-owned Hino dealership.
Isipho Capital founders Sipho and Fortunate Mdanda have stepped into history as the new owners of South Africa’s first 100% black-owned Hino dealership, according to Times Live. Located in Pomona, Johannesburg, this dealership is also 65% woman-owned.
The acquisition of the Hino Pomona dealership marks a significant milestone in South Africa’s automotive landscape. Equipped with state-of-the-art facilities, including a comprehensive parts and service center capable of servicing modern trucks and trailers, the dealership sets a new standard in customer service and support.
“We at Isipho Capital are truly honored and excited that we are members of the Hino family and look forward to positioning our dealership as one of the star performers in Hino South Africa’s countrywide network of 67 dealerships,” Fortunate Mdanda said.
Anton Falck, vice president of Hino SA, echoed the sentiment, emphasizing the importance of the dealership’s location in Gauteng. “Hino Pomona is an important member of our network, located in the fastest-growing logistics hub in Gauteng, along the R21, in proximity to OR Tambo International Airport, as well as being within the Ekurhuleni manufacturing hub,” Falck said.
The acquisition aligns with Isipho Capital’s broader business interests. The company’s diverse portfolio includes an 80% stake in Mr Coach, specializing in ambulances, mobile clinics, hearses, buses, and other conversions, as well as 100% ownership of Kholeka Engineering, renowned for manufacturing truck bodies, trailers, people carriers, water tankers, and more.
This deal reflects Isipho Capital’s commitment to fostering diversity and inclusivity in the business landscape and underscores its strategic vision for growth and expansion across various sectors.
As Isipho Capital ventures into uncharted territory with the Hino Pomona dealership, it paves the way for future generations of Black entrepreneurs in South Africa’s automotive industry. The Mdandas are poised to make a lasting impact, setting a new standard of success in the nation’s business landscape.
