#348 Magatte Wade - Why Africa Is Still Poor (And How To Fix It)
Real Talk with Zuby
Zuby
4.8 • 1.2K Ratings
🗓️ 30 January 2025
⏱️ 97 minutes
🧾️ Download transcript
Summary
Magatte Wade is a Senegalese entrepreneur who gained initial fame for a TED Talk she made in 2017 about the excessive regulatory environment in Africa, which pushes young Africans to emigrate for economic reasons. She joins Zuby to discuss her early life, migration to Europe, and introduction to free market capitalism and entrepreneurship. Magatte shares her story of losing friends over political ideology, leaving the left, and her bold goals for Africa in 2050.
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Timestamps:
(00:00) Introduction
(02:27) Magatte’s childhood
(03:57) Magatte’s introduction to capitalism and entrepreneurship
(38:50) Losing friends over capitalism
(50:01) Inherent virtues of the left
(55:39) 2.5 Billion prosperous Africans by 2050
(1:15:33) Cultivating a prosperous business environment
(1:35:08) Outro
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Transcript
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| 0:00.0 | What my three companies have in common is consumer brands, |
| 0:04.0 | bringing back the very best aspects of my African heritage and tradition. |
| 0:08.2 | I embed them in a product, using African ingredients and African botanicals, |
| 0:12.8 | African, you name it, and the manufacturing in Senegal and selling here in the US. |
| 0:20.4 | The first time I did that, so it's a company here in the US, the other one in Senegal and selling here in the US. The first time I did that, so sister company here in the US, |
| 0:23.6 | the other one in Senegal. |
| 0:24.6 | The first time we did that, back in these days, |
| 0:27.6 | we were late 2003, early 2004. |
| 0:30.6 | It took me less than half a day, |
| 0:34.6 | because you know, we were still paper oriented. |
| 0:36.6 | Today it's 15 minutes, shorter, depending on how fast you type. |
| 0:41.3 | To legally register the business, less than half a day in the US. |
| 0:45.3 | In Senegal, it took almost two years. |
| 0:48.3 | I am the man, sick with the slang, sick and I'm destined for fame. |
| 0:57.3 | Dude for the fan, not for the grand, stunting you're destined for pain. |
| 0:58.4 | I do not frown. |
| 0:59.3 | I do not scam. |
| 1:00.6 | Put some respect on my name. |
| 1:02.8 | Sick like a pain, click and I bang. |
| 1:04.0 | Y'all going to remember the name. |
| 1:07.7 | What's up, ladies and gentlemen, boys and girls around the world? |
| 1:11.1 | I'd like to welcome you back to the Real Talk with Zubi podcast. On today's episode, we have got on an entrepreneur, an author, a public speaker, and this is |
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