National Bank is contributing $6.25 million to empower Black organizations and
businesses in Canada
TORONTO, Feb. 26, 2021 /CNW Telbec/ - Black
Opportunity Fund is happy to announce today a partnership with
National Bank, which includes a $1.25
million donation and a $5
million investment fund for Black entrepreneurs. National
Bank will support the Black Opportunity Fund's operations
throughout Canada as well as the
creation of its Francophone program.
"Black Opportunity Fund is committed to investing in Black
communities to build up Black organizations and businesses in
Canada and help them achieve their
full potential," said Dennis
Mitchell, co-founder of the Black Opportunity Fund and CEO
of Starlight Capital. "This partnership with National Bank will
open countless doors for Black entrepreneurs and non-profit leaders
in Canada."
The funding will support the ongoing work of the Black
Opportunity Fund and invest in Black businesses that continue to
face barriers in accessing education, employment, and the capital
required to fully participate in the growth of our economy.
"We have deep roots in the business community and a
long-standing commitment to support the entrepreneurial mindset in
the communities we serve. We're proud to partner with the Black
Opportunity Fund, which enables us to pursue this mission,
strengthen our support for Black entrepreneurs and contribute to
the economic and social empowerment of Canada's Black communities. This partnership
is also part of our ongoing efforts to promote diversity and
inclusion, and to build a better future for all our stakeholders,"
said Louis Vachon, President and
Chief Executive Officer of National Bank.
More information about this partnership can be found at
www.blackopportunityfund.ca.
About the Black Opportunity Fund
In 2020, a diverse team of Black Canadians, from around the
country, came together to create a new way to serve and empower
Black communities. They established the Black Opportunity Fund
(BOF) – with an ambitious goal of raising $1.5 billion in 10 years – to fund Black-led
initiatives.
Black Opportunity Fund will be a catalyst to dismantle
anti-Black racism by supporting the cultural, social, economic and
political changes required to advance diversity and inclusion at
all levels in Canada's
institutions, governments, and businesses.
The Black Opportunity Fund is a new approach, leveraging
partnerships between government, Black communities, corporations,
philanthropic foundations and individuals to drive a historic
transformation of Canada's Black
communities.
About National Bank of Canada
With $344 billion in assets as
at January 31, 2021, National Bank of Canada, together with its subsidiaries, forms
one of Canada's leading integrated
financial groups. It has more than 26,000 employees in
knowledge-intensive positions and has been recognized numerous
times as a top employer and for its commitment to diversity. Its
securities are listed on the Toronto Stock Exchange (TSX: NA).
Follow the Bank's activities at nbc.ca or via social
media such
as Facebook, LinkedIn and Twitter.
SOURCE Black Opportunity Fund