Black Money: there was progress in inclusion, but the challenge is great, says specialist

In an interview with CNN Rádio, on CNN No Plural, economist and CEO of No Front, Gabriela Mendes, said that there was “substantial advance in the inclusion of the black population in the economy”, but the “challenge is still great.”

She explained the concept of “Black Money”, which is the movement that favors businesses of black people, in addition to encouraging entrepreneurship and the circulation of financial resources.

This becomes even more important when taking into account that the black population represents more than 50% of Brazilians and moves R$ 1.7 trillion per year, according to data from the Locomotiva Institute.

“The advance in awareness and knowledge of these groups creates demand for insertion and comes in parallel with innovations in the financial market that will allow the emergence of financial institutions with other parameters”, he said.

She reports that the need, for example, to present payslips to open a bank account already isolated part of the population, especially the black, who had informal and precarious work. The emergence of fintechs, then, is positive in this regard.

For Gabriela, the economic reality of Brazil “is worrying”. “There is a substantial portion, especially black, pushed towards entrepreneurship by the need to survive, the number of support initiatives has multiplied, but, in practice, people sell lunch to pay for dinner.”

She questions that the black community has always been involved, but there has to be a question of “where they are located” or “why don’t we have blacks on the billionaires list.”

“These are issues that show an abyss in access to opportunity, such as financing, credit. There is a very long way to go”, he concluded.