CAF and Preta Hub join forces to learn about black entrepreneurship

CAF and the NGO PretaHub will sign on May 3 a technical cooperation agreement with the Feira Preta Institute, chaired by Adriana Barbosa. The cooperation was made official in São Paulo, during the opening of the 2024 edition of Feira Preta, with the participation of Estefanía Laterza, CAF representative in Brazil, and Eddi Marcelin, senior executive of the Gender, Inclusion and Diversity Management of CAF's Corporate Vice-Presidency of Strategic Programming.

At that time, the panel “The Strength of Black Entrepreneurship in Latin America” was held, a joint discussion with Adriana Barbosa; Epsy Campbell Barr, economist and first Afro-descendant woman to assume the Vice-Presidency of Costa Rica; Chelsea Jackson, representative of the Schwab Foundation; and Daniel Manjarrés, from PretaHub, together with Estefanía Laterza and Eddi Marcelin.

Profile of entrepreneurs

Given the scarcity of data on the participation of black entrepreneurs, especially women, in the countries of the region, CAF partnered with the Feira Preta Institute to conduct an unprecedented study in Latin America, covering a total of 2,000 Brazilian, Argentine, Colombian, Peruvian and Panamanian entrepreneurs.

For Estefania Laterza, profiling black entrepreneurs in Latin America will be a very important step to broaden the participation of investments in these businesses. “To better understand the phenomenon of African-descendant entrepreneurship, we need data,” said the representative.

Important aspects

“This study will help to understand the ecosystem on which the entrepreneurship of black populations in Latin America developed,” explains Eddi Marcelin.

According to the executive, the initiative has several important aspects: “The first is that it will help to understand what are the challenges surrounding the entrepreneurs of these populations in Latin America and also what are the opportunities”. Understanding this context, Marcelin believes that CAF could subsequently help governments to promote actions to advance and support programs and projects aimed at these populations.

Another important aspect of the study, in the executive's opinion, is that this is an exercise that also seeks to understand how the traditional knowledge of these populations is valued to generate income and, with this, help in social and economic mobility. “For many years, all issues related to the entrepreneurship of these populations have served to advance the search for opportunities through the preservation of identity and income generation,” concludes Marcelin.

In addition, the executive believes that by implementing the axis of partnerships with identity, CAF's diversity strategy, this study can help to promote alliances and partnerships with the private sector in the countries, in addition to the programs developed with governments. Marcelin highlights that these partnerships with the private sector are already happening in Brazil and that this model should now be taken to other countries in the region.

PretaHub

According to Adriana Barbosa, PretaHub's performance in promoting black entrepreneurship is a reference in Brazil and the results of this work have opened doors and opportunities for the dissemination of this experience internationally. “With this, we have advanced in exchanges with different countries in Latin America and Africa,” said the executive director of the NGO.

“The technical cooperation agreement with CAF, which contemplates these exchanges and also the realization of a research on black entrepreneurship in this territory, is fundamental to provide tools and qualify PretaHub's performance in synergy with similar institutions in the countries, which will undoubtedly strengthen in an unprecedented way entrepreneurship in the block and, of course, the quality of life of entrepreneurs”, Adriana emphasized.