The Case for the Afro Gold Dollar Stablecoin
On Saturday, February 15, the NAACP released the Black Consumer Advisory, urging Black Americans to wield their $1.7 trillion in spending power to hold corporations accountable. The advisory praises companies like Apple, Ben & Jerry’s, Delta Air Lines, and Costco for maintaining their commitments to diversity, equity, and inclusion (DEI). At the same time, it calls out companies like McDonald’s, Meta, Walmart, and Target for rolling back their DEI efforts under increasing political and legal pressure.
This backlash against DEI is not surprising. Corporate America has long profited from the exploitation of Black labor and African resources. Now, when asked to give back even a fraction in the form of inclusive hiring and equitable policies, these same corporations claim victimhood. It is a predictable but shameful cycle.
How They Got Rich in the First Place
I often wonder why Western corporations are eager to exploit Africa’s vast resources but reluctant to hire or fund African companies. The answer lies in history. Institutions like Lloyd’s of London, which insured slave ships, amassed massive wealth by underwriting human trafficking. That company is now one of the world’s largest insurers, built on the suffering of enslaved Africans. These same institutions, and the corporations that grew from them, are now crying foul over DEI initiatives that barely scratch the surface of historical injustice.
Centuries of extracting Africa’s resources, enslaving its people, and controlling its economies through institutions like the IMF and the World Bank have cemented the West’s economic dominance. And now, these companies complain about being required to dedicate a small percentage of jobs to melanated people. It is pitiful.
We Have the Power
Rather than relying on reparations — which will never come — we must recognize our power. Zimbabwe, for instance, is not waiting for reparations. The only people demanding compensation there are white farmers who want to be paid for the land they stole from Indigenous Zimbabweans. Their real outrage is not about land but about the gold mines they covertly operated under the guise of agriculture. These farms were never just farms; they were fronts for illicit gold mining and money laundering. The fact that they never declared their mining operations exposes the true source of their anger.
Western institutions like the IMF and World Bank have since blocked funding to Zimbabwe until these farmers receive payment. It is a farce. These same financial institutions claim to champion democracy and fairness, yet they continue to strong-arm African nations into submission whenever they resist economic neocolonialism.
Leveraging Economic Power for Change
The NAACP’s Black Consumer Advisory is a step in the right direction. It highlights an essential truth: our collective economic power can dictate the direction of corporate responsibility. If corporations refuse to respect DEI principles voluntarily, then we must force their hand by strategically directing our spending. The goal is not just better representation in corporate America but a broader economic shift that reclaims power from the exploiters and reinvests it into Black and African-owned enterprises.
Rather than begging for seats at their tables, we should build our own. That means supporting Black-owned businesses, funding African innovation, and demanding accountability from global corporations that rely on our labor, resources, and consumer dollars.
History has shown that these companies will not change unless forced. The question is: will we use our power to make that happen?
