Magatte Wade
@magattew
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Mission: 2.5 Billion Prosperous Africans by 2050 🌍 Author & speaker w/ 10M+ views on TED, Lex Fridman, and Jordan Peterson’s Podcast.
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𝕏 has been the best platform for me to educate people about what's REALLY going on in Africa, and share the truth behind why so many African countries stay poor.
That's I'm giving away my audiobook
#HeartOfACheetah
for FREE on 𝕏, for this week. Listen to it here.
[Part 1/7]
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Come to Dakar and you’ll see very clearly where your aid money goes.
So many of the foreign residents you see in Dakar are either working for the UN, an NGO, or an embassy.
Most are living lives of fine dining, with nice cars, large apartments, maids and constant parties.
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I had the most delightful afternoon discussing my beloved Africa and other stuff with
@lexfridman
on his podcast. What a warm, thoughtful and caring soul
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My conversation with
@lexfridman
is out. I am grateful for the opportunity to share my message and vision about my beloved Continent. Bonus: Lex laughing! I knew he was not a robot 😉❤️
Here's my conversation with Magatte Wade (
@magattew
) about Africa, communism, capitalism, and the role of economic freedom in empowering nations to flourish. Magatte is an amazing human being with a powerful vision for Africa & for the future of humanity.
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How did Singapore go from a third world country…
To becoming one of the most financially successful countries in the world?
The answer may surprise you:
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What makes America great? 🇺🇸
The same thing that would solve Africa’s biggest problems:
CAPITALISM.
Capitalism means income.
It means job creation.
It means shelter and food.
And it is the way out of poverty.
Capitalism is Africa’s proven path to prosperity!
Happy 4th!
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Why are so many African countries still poor decades after independence? This is why…
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5 Ways Bitcoin is Currently Being Used to Help Africans Escape Poverty
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They don’t pay taxes and they get extra compensation for their “suffering” for being posted in such a “far away place filled with malaria, tropical diseases and tough climates”.
This raises the cost of living in the city.
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I come from a poor country, where I cannot afford for anybody to look down on capitalism.
• Capitalism is job creation.
• It is a roof over our heads.
• And it is the way out of poverty.
Capitalism is the solution, not the problem.
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That might be worth it if the “work” they did actually made a difference. But it doesn’t. Instead of helping the continent rise, it has a culture of dependency and loss of dignity for the local people.
The first step to a prosperous Africa is to eliminate what's poisoning it.
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People think Africa can't become a global player due to a perceived "lack of education and talent."
They argue that without a highly educated population, we're destined to remain poor and underdeveloped.
But they're missing the point:
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Countries that became prosperous from foreign aid:
1.
2.
3.
4.
5.
6.
7.
8.
That’s right… none.
Foreign aid not only doesn't help...
It actually PREVENTS countries from becoming prosperous.
Be wary of aid offers, in whatever form they come.
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If you believe capitalism is evil, you are not paying attention.
You don't see how choking capitalism to death with regulations in Africa has kept us poor.
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The SURPRISING reason behind Africa’s POVERTY.
(Hint: it’s not slavery, and it’s not colonialism)
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Then, on top of it, UN and NGO contracts way out-price the local market, diverting local talent away from productive, entrepreneurial activity to useless, bureaucratic activity instead. Their budgets don’t make sense anywhere except where you’re dealing “free money”.
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The UN has 17 Sustainable Development Goals dedicated to alleviating poverty, none of which include having a business-friendly environment.
At the end of the day, that’s all we need. We don’t need fake NGO jobs. We need the right environment to be able to create our own jobs.
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My family shaped me into the woman I am today.
When I entered school in Germany, I was absolutely miserable. Curious pairs of eyes looked at me as if I was from another planet. I did not speak German, only Wolof (Senegalese).
Yet, my grandma’s words echoed in my mind:
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@Hebro_Steele
@Stanford
@joboaler
Her children, and those of her friends, including thoseof people like Lauren Powell and Gavin Newson, will not follow the math education she preaches. Of course not. Bigotry of low expectations at its best.
As usual, it will be the most vulnerable among us (those who can’t
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Africa should imitate Singapore:
• Nurture a culture of entrepreneurship
• Focus on economic diversification
• Develop strategic partnerships
• Establish a strong rule of law
• Invest in infrastructure
• Prioritize education
There is NO REASON we cannot prosper.
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In America, it’s easy to forget how easy we have it.
It costs almost nothing to set up an LLC, to start a business, and to change your life. The system incentivizes growth.
But, in Senegal, it does not.
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BITCOIN is skyrocketing.
MicroStrategy just bought 12,000 BTC for $821.7M.
Sounds cool, right?
BUT there’s one thing that most people don’t understand.
For Africans,
#Bitcoin
is more than speculation.
It's a beacon of HOPE. It's revolutionizing how money moves, eliminating
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Why is Africa still POOR in 2024?
It’s not low IQ. It’s not corruption. It’s not colonization.
The answer: Africa’s business environments are the WORST in the world.
It’s because of our laws that Africa’s business owners are in chains. These chains hold us back from ever
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When you run a business you can’t just be paying whatever for things. But in these organizations there are no limits or accountability.
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Many people ACTUALLY think Africa is poor today because of colonization.
Give me a break. Colonization has definitely set us back. By a lot.
But 60+ years later we should be in a much different place…
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Corruption is not the core problem. It is a symptom of overregulation and government interventions.
Every regulation is an opportunity to ask for a bribe. Every tariff is an opportunity to ask for another.
Address corruption at the source to end it.
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Why are countries like the US and Singapore rich, while countries in Africa are poor?
Hint: It has nothing to do with
• IQ
• Genes
• Education
The street sellers in Senegal have university degrees. Yet, their human potential is wasted.
What’s the real problem?
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It's time to move past the narrative of a post-colonial Africa, and instead embrace an Africa of the present: dynamic, innovative, and resilient.
We are not a 'dark continent' but a bright beacon of promise.
Our potential isn't in our past.
It's in our people, and our future.
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Capitalism is about elevating humanity through business.
Capitalism is NOT about corporations lobbying for government privileges.
It is about the creation of prosperity, for all.
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I had given up on all politicians until I heard of
@AndrewYang
’s goals for «Forward Party».
The gist of this new party is to shake up the incentives in the political world so they align with the needs of the people.
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When people in the West talk about African issues they often get discouraged.
But the truth is you have no idea the possibilities that lie ahead for this continent.
There are solutions out there and Africa can leapfrog ahead.
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Let there be no doubt in anyone's minds...
THIS IS WHAT KEEPS AFRICA POOR.
I could go on and on about the regulatory insanity that goes on in so many countries in Africa. It is like swimming through molasses to tart and run a business and lift oneself out of poverty.
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As soon as my parents left Senegal, they made something of themselves they could have never achieved back home.
Yet, they weren’t the problem.
The system was the problem.
The barrier to economic freedom is not education or IQ,.
The barrier is bad laws.
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MYTH: Africa is corrupt.
REALITY: Corruption is not a root cause.
Here’s what is:
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Does racism exist? Yes.
Will it stop me? No.
The victimhood mentality is poisonous.
Avoid it at all costs...
Thanks again for having me on
@lexfridman
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A lot of my friends ask me: Why do I bother?
Why do I go through all the trouble to have my products produced in Senegal when they could be made much more easily in the US?
Why use local forms of transport, when I could get a nice car and avoid 90% of the hassle?
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Most African nations are poor because our entrepreneurs on the ground have not been allowed to create companies.
It is because of layer after layer of senseless government bureaucracy.
And it is WRONG.
We need to unite against the insane obstacles to business in Africa!
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Personally, I am not interested in black characters of Snow White, 007, Cindirella, etc.
I see where those chasing after that are coming from, but the whole thing seems ridiculous and quite pathetic, if you ask me.
Why yearn to be a black version of X or Y? We have many stories
I feel like black people are being used as mascots for DEI, and I wish the entertainment industry and other industries would stop doing this. This is not helping us, this is hurting us. Stop forcefully inserting black people into these old stories and then acting shocked when
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My goal is for every African, young and old, is to realize one thing:
We are not doomed. It’s not over for us.
We have the potential to change, and we will leapfrog. Success is in our hands.
Africa is the future.
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He created the world's most business-friendly legal environment.
As a consequence, Singapore today has one of the highest GDP per capita in the world.
It outranks even its colonizers.
And it did so by welcoming business.
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This african chick is telling you a big, fat, resounding “NO!!!”. We refuse to be today’s sacrifice for a (hypothetical) tomorrow.
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One of the biggest things that holds many African countries back from growth, including my beloved Senegal, is the Civil Law system, primarily inherited from Colonial France.
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Much of the criticism around Bitcoin centers around energy usage. It consumes about as much energy as American dryers do annually.
Whether you believe this is a waste or not depends upon if you think BTC is worth it – particularly, in my case, in regards to the global poor. 1/
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I absolutely love this clip of my friend Abubakar Nur Khalil
@ihate1999
of ₿trust and Recursive Capital from our live call last month on Bitcoin and what it means for Africa.
#bitcoin
#africa
#prosperity
#financialfreedom
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Africa is one of the least known victims of socialism.
How Socialism Destroyed Africa 🚩
The 1950s and 1960s were years of hope across the African continent.
After enduring long periods of oppression, European powers relinquished their colonial rule, allowing Africans to chart their own destinies.
Regrettably, this sentiment
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Mic drop!
I could hear
@SpeakerPelosi
’s teeth falling on the ground
Well done,
@MrWinMarshall
Nancy Pelosi did not like what I had to say...
Populism is not a threat to democracy.
Democrat elites like her are.
Watch my full Oxford Union speech from the debate with her:
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African leaders can use Singapore’s recipe for prosperity!
By creating business-friendly legal environments, we can unleash the potential of our people and drive economic growth.
It's not just education; it's about creating an environment that allows human potential to thrive.
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I have ZERO patience for people who claim they want to help Africans or Black people flourish but who are “anti-capitalists.”
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Lee Kuan Yew reimagined Singapore. Then, he:
• Prioritized education
• Invested in infrastructure
• Established a strong rule of law
• Focused on economic diversification
• Developed strategic partnerships
• Nurtured a culture of entrepreneurship
But most importantly…
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Economic freedom is key.
Let's build systems that support entrepreneurship and innovation, allowing African nations to prosper, just as Singapore and Dubai have done.
The future is in our hands.
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Colonization IS NOT the reason that Africa is poor.
Was colonization horrible? Yes.
Were people treated badly? Yes.
Were resources plundered? Yes.
And were Africans turned into the global poster child for poverty porn and pity? Yes.
Africa suffered the largest and most
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@edithbrou
No full video, Dear. But feel free to check out Poverty Inc () for the trailer and at for the full documentary. It goes deep on this issue
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“Foreign aid is taking money from the poor people of a rich country and giving it to the rich people of a poor country.”
- Ron Paul
I am tempted to take some of the adults behind this to slap others 🤬
Prom scenes from Elite High School Entebbe, Uganda.🔥🤯🙆🏾♂️
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When I lost my husband, I wanted to die.
But as I was about to quit, I met an old woman who said something I’ll never forget.
She said to me: “Child, where your husband is, there is nothing you can do for him. But for us, you can change everything.”
This is why I do what I do.
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Mark your calendars for tomorrow Thursday.
@DavidHundeyin
and I look forward to seeing you all
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The great global financial centers of the world - New York, London, Singapore, Hong Kong, Chicago, Sydney all use the legal operating system of British common law.
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Pre-colonial Africans had some of the most sophisticated trade routes in the world. There were many people doing quite well for themselves. Our pre-colonial forefathers practiced entrepreneurial value creation, made possible by free enterprise.
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“What if we tried economic freedom?”
Geeee! I wonder what happens then!!!!
Meanwhile so many of my African friends believe in yesteryears “strategies” of coups and other disruptive that take us nowhere 🙄
During the 1970s, the Republic of Mauritius became the stage for a radical experiment called “what if we tried economic freedom?”
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Who said what? Posting the real motivations of socialism for those in the back…
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In America, it’s easy to forget how easy we have it.
It costs almost nothing to set up an LLC, to start a business, and to change your life. The system incentivizes growth.
But, in Senegal, it does not.
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Economic freedom is an important metric that measures the health and well-being of every nation. But how does it really affect the daily business of entrepreneurs and why should we make a clear distinction between economic and financial freedom?
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Poverty is not Africa's destiny.
With the right economic framework, we can transform our continent into a bustling hub of innovation and prosperity.
Change is possible, and it starts with economic freedom.
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There is no better solution to global poverty than entrepreneurship.
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Would you hire someone you knew you could never fire?
Of course not.
Yet, where I come from, this is standard.
Africa has the strictest labor laws in the world. They protect workers at the expense of businesses and actively discourage prosperity.
No wonder Africa stays poor.
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Africa has some of the worst business environments in the world, but what does that mean?
If you’re a founder, it may take you up to 50,000X longer to register an LLC than in the U.S.
The key to prosperity in Africa is NOT more aid. It’s better environments for entrepreneurs.
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Africa is NOT poor because of corruption.
Corruption exists everywhere, from Senegal to Chicago to Singapore.
It’s just a fact that there will always be people who try to take advantage of the system.
Africa is poor because of the tangle of senseless laws that entrepreneurs
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“Marxist Socialism was never executed correctly. We just need to do it right!”
How many millions more people are going to die before we acknowledge the utter failure of this ideology?
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When Lee Kuan Yew rose to power, Singapore was facing:
- Poverty
- Poor infrastructure
- Limited access to healthcare and education
Singapore was an island of mudflats and swamps.
But within 40 years, LKW transformed it into a thriving metropolis and global economic leader.
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Many Africans complain, "If only we controlled our natural resources, we’d be SO wealthy!"
It's like they believe that taking charge of cobalt, diamonds, oil, chromium, platinum, or uranium would MAGICALLY fix African poverty.
They've got it all backward.
We need to tackle
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@michaelmalice
’s “the White Pill” was my flight companion on the long haul from Cape Town to Atlanta. Such poignant stories about the horrors of communism and its ancestor marxism, at times very hard to read through. I am so glad you escaped the hell of this all, Michael. In so
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Africa is the poorest region on Earth today because of these 3 representatives of the Devil. Ideas matter.
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We can change Africa’s course and leapfrog our way onto the global stage.
But to do so, we MUST adapt.
• We must enable business.
• We must incentivize creation.
• We must pave a path to prosperity.
If we truly want to become a global leader, we MUST adopt free-markets.
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But I've never been one to complain without seeking solutions.
My mission:
- Dismantle the nonsense laws holding back free markets in Africa
- Empower entrepreneurial Africans to build legal enterprises
- Build startup cities to kickstart economic growth
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For African nations to prosper, they need better business opportunities—not anti-capitalist rhetoric.
Capitalism isn’t the problem.
Bad business environments are.
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Most entrepreneurs don't start a business to become rich.
They start a business because they have identified a problem where they said, “Enough is enough, I’m going to do something about it.”
Entrepreneurship is to criticize by creating.
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Africa’s only defence against racism is prosperity.
Unfortunately, “Blackness” has come to be associated with poverty..
Once we change this narrative, we would have solved racism by over 80%.
“He who makes the gold makes the rules.”
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Should liberals with a brain aka conservatives with a heart unite?
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Show me a country that has become prosperous by having a government-controlled economy.
You can’t find one.
Why?
Because they all failed or became radically free-market (as with China with its SEZs).
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Yep, we the people around the world, do not want to be enslaved by our various governments. The fight is on, and we shall prevail. I come in at around 2:55
Who
@nickgillespie
spoke with at
@AtlasNetwork
's Liberty Forum:
@DeirdreMcClosk
,
@magattew
,
@gladstein
,
@MmadMachine
,
@tonywoodlief
, and
@tomgpalmer
. Podcast.
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Learning Econ 101 really should be as fundamental as learning how to to read and count 😩
Like hundreds of Lyft users, I received an email today that they’re leaving Mpls on May 1st.
What they fail to mention is that they’re choosing to “leave” because they simply do not want to pay their drivers, a largely Black & immigrant workforce, our minimum wage of $15/hr.
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OMG! YES! YES! The hypocrisy, ignorance and meddling must stop!
@gladstein
@HumanProgress
Below is a beautiful example of someone in the global south trying to lift his country out of energy poverty and towards prosperity.
@raycivkit
@magattew
@thetrocro
@BitcoinPierre
@resistancemoney
@jyn_urso
@nayibbukele
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“But Singapore is tiny! How can you compare a country with an entire continent?”
Simple: Because African prosperity will happen…
One.
City.
At.
A.
Time.
Here’s why I am such a fierce advocate for Startup Cities (cont’d)
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Let's create Startup Cities in Africa where regulation is light, entrepreneurship is encouraged, and barriers to business are gone.
Africa deserves no less than environments that foster growth, innovation, and prosperity.
It's time for Africa to rise to its full potential.
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Our regulations hold us back, stifling innovation and discouraging entrepreneurship.
Our permitting timelines impede business, our tariffs make us less competitive, and our labor laws force African leaders to start elsewhere.
If we change our laws, we can change our future.
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Why are so many African nations POOR...
While other countries are RICH?
The answer: Most African nations are ranked as having among the worst business environments in the world.
If African nations change course and develop the best business environments in the world, there's
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In a world of a BEAUTIFUL tapestry of skin colors, it's the shared human spirit that truly defines us ❤️
🎥
@glennbeck
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We must stop seeing Africa through the lens of need and start seeing it through the lens of opportunity.
Our people are ready and eager to create, innovate, and prosper.
All we need is the right systems to make it happen.
We need to enable entrepreneurship.
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Yes, education is essential.
But it's not the sole factor determining a country's prosperity. There are plenty of educated and talented individuals in Africa who are eager to contribute to our development.
The real issue is law and regulation.
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By 2050, 25% of the world’s population will be African.
That’s 1 out of every 4 people walking this Earth.
The average age in Africa is 19 years old.
Africa also has 60% of the world's uncultivated arable land.
Mark my words: the FUTURE is African.
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"No matter what happened to you, you're responsible for what you do for you." - Bishop Omar Jahwar
🎥
@triggerpod
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