HBCU Money™ Business Book Feature – Mistaking Africa: Curiosities and Inventions of the American Mind

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For many Americans the mention of Africa immediately conjures up images of safaris, ferocious animals, strangely dressed “tribesmen,” and impenetrable jungles. Although the occasional newspaper headline mentions genocide, AIDS, malaria, or civil war in Africa, the collective American consciousness still carries strong mental images of Africa that are reflected in advertising, movies, amusement parks, cartoons, and many other corners of society. Few think to question these perceptions or how they came to be so deeply lodged in American minds. Curtis Keim’s Mistaking Africa looks at the historical evolution of this mind-set and examines the role that popular media plays in its creation. Keim addresses the most prevalent myths and preconceptions and demonstrates how these prevent a true understanding of the enormously diverse peoples and cultures of Africa.

Updated throughout, the third edition includes a new chapter, “Where Is the Real Africa,” discussing the multifaceted nature of the question and the importance of not grasping onto stereotypes of Africa’s mythical past. Keim also includes new examples and new images to expand the visual narrative of western views about Africa. Mistaking Africa is an important book for African studies courses and for anyone interested in unraveling American misperceptions about the continent.

HBCU Money™ Dozen 2/2 – 2/6

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Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure. We have made some changes here at HBCU Money™ Dozen. We are now solely focused on research and central bank articles from the previous week.

Research

State-sponsored Chinese hackers suspected in Anthem breach l Computerworld ow.ly/IzSMS

IBM brings more Watson smarts to developers l Computerworld ow.ly/IzSRv

Sail, fish, hike, swim & more in the 28 National Estuarine Research Reserves l NOAA Digital Coast 1.usa.gov/1y6rlPt

How can a particle accelerator help scientists understand the history of a glacier? l Symmetry ow.ly/IzTd5

5 top enterprise-grade business gadgets l Network Worldbit.ly/1I9RqXT

Direct measurement of key molecule will increase accuracy of combustion models l Phys.org ow.ly/IzT2G

Federal Reserve, Central Banks, & Financial Departments

Measuring the effects of consumer bankruptcy protection l NBER bit.ly/1BXkRE2

Is the youth labor force participation rate dropping because people are staying in school? l St. Louis Fed bit.ly/1DCF2t0

“It’s not us versus the machines; it’s us and the machines.” l World Economic Forum wef.ch/1yLKI0M

House passes bipartisan regulatory reform bill l Housing Wire hwi.re/8Py83d

An opportunity for East #Asia in plunging #oil prices l World Economic Forum wef.ch/18QWpwR

Explore arts’ vital contributions to the economy l Atlanta Fedgoo.gl/V9UcFf

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important research and finance articles of the week.

The HBCU Money™ Weekly Market Watch

Our Money Matters /\ February 6, 2015

A weekly snapshot of African American owned public companies and HBCU Money™ tracked African stock exchanges.

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $8.60 (0.00% UNCH)

M&F Bancorp (MFBP) $4.50 (0.00% UNCH)

Radio One (ROIA) $2.09 (5.02% UP)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  254.33 (0.37% UP)

Botswana Stock Exchange (BSE)  9 457.70 (0.03% DN)

Ghana Stock Exchange (GSE)  2 149.80 (4.92% DN)*

Nairobi Stock Exchange (NSE)  168.19 (N/A)

Johannesburg Stock Exchange (JSE) 51 998.32 (0.60% UP)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 847.51 (0.45% DN)

London Stock Exchange (LSE)  3 681.48 (0.15% DN)

Tokyo Stock Exchange (TOPIX)  1 417.19 (0.50% UP)

Commodities

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Currencies Of The African Diaspora – Cote d’Ivoire

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Cote d’Ivoire is heavily dependent on agriculture and related activities, which engage roughly two-thirds of the population. Cote d’Ivoire is the world’s largest producer and exporter of cocoa beans and a significant producer and exporter of coffee and palm oil. Consequently, the economy is highly sensitive to fluctuations in international prices for these products and in climatic conditions. Cocoa, oil, and coffee are the country’s top export revenue earners, but the country is also producing gold. The country also produces oil and boasted two offshore oil finds in 2012. Since the end of the civil war in 2003, political turmoil has continued to damage the economy, resulting in the loss of foreign investment and slow economic growth. In June 2012, the IMF and the World Bank announced $4.4 billion in debt relief for Cote d’Ivoire under the Highly Indebted Poor Countries Initiative. Cote d’Ivoire’s long-term challenges include political instability and degrading infrastructure.

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Source: Economy provided by CIA World Factbook Africa

The 20 Year Review: 1994 & 2014 HBCU Endowments Then & Now

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The 2014 HBCU Top 10 Endowments list is out. Going forward we will review where HBCUs are today and where they were 20 years ago. NACUBO’s list this year included 851 reporting institutions from the U.S. and Canada. So here are a few fast facts of then and now in regards to HBCUs place in the whole of the endowment conversation.

  • Of the 851 reporting institutions in 2014, only 1.7 percent were HBCUs. HBCUs comprise 3 percent of American colleges and universities. In 1993, Of the 446 reporting institutions in 1994, only 0.9 percent were HBCUs.
  • 20 years ago, the 4 HBCUs who were present on the list had a combined endowment value of $356 993 000 versus the top 4 HWCUs who had a combined endowment value of $17 726 252 000.
  • The endowment wealth gap between the top HWCUs/HBCUs in 2014 was 106:1. In 1994, it was 50:1.
  • In 1994, 17 HWCUs reported endowments over $1 billion and 2 HBCUs reported endowments over $100 million. In 2014, there were 92 HWCUs with reported endowments over $1 billion or an increase of 441 percent. HBCUs increased their ranks of $100 million endowments from 2 to 5 or an increase of 150 percent – unchanged from the 1993 to 2013 review.

The suspected widening in the HWCU/HBCU endowment gap was no surprise in this year’s endowment numbers. A combined factor of under market returns and major capital campaigns raising billions at HWCUs is only bolstering their endowment strongholds. While there is a great focus on the household wealth gap between African American households and other groups, very little attention remains paid to the institutional wealth gap that is often more reflective of a group’s health than any other. Meanwhile, just how many hundreds of millions or perhaps billions the Parent Plus Loan debacle by the US Department of Education ultimately will cost HBCU endowments long-term is immeasurable. This is especially true when 11 percent of HWCUs reporting in 2014 have over $1 billion plus in endowments. On the flip side, only 7 percent of HBCUs are over $100 million. The gap can be closed, but how? That has to be on the mind of every HBCU president, development office, and most importantly the alumni.