According to Nielsen, black spending power now hovers around 1.2 trillion dollars. That’s a lot to spending power. However, the length of time the black dollar circulates in the community is not nearly long enough. According to the Austin Weekly News, Black people in America have a gross national income of about $1.3 trillion. Only 2 percent – or about $26 billion of those $1.3 trillion – is re-circulated in the Black community.
So, platforms such as Afroganix are very necessary. They have the potential to impact the circulation of black dollars in the black community on a global scale. Listen to the podcast interview here.